San Francisco based web browser platform Brave has raised $35m through an initial coin offering crowdfunding campaign. The funding was secured through selling Basic Attention Tokens, whose value is based on crypto-currency Ethereum, to supporters.
Brave is the brainchild of Brendan Eich, the co-founder of the Mozilla Foundation, maker of the original Mozilla browser. Eich's new web browser is designed so that users can make micropayments to web publishers they like using crypto-currency, based on how many articles they read. "We are pleased with the sale, and we're looking forward to disrupting digital advertising and building a user-centric platform for supporting the Web," Eich told CoinDesk. The Brave browser's payment system uses what are called Basic Attention Tokens, whose value is based on the crypto-currency known as Ethereum, a popular alternative to bitcoin. Eich has said his company plans to release the code behind the tokens as open source so that anyone can build publishing systems or services that use them for payment.