Yes and no. They have a browser with a normal adblocking function. They serve ads themselves, and use these to fund services like Brave News, Brave Talk and B

Yes and no. They have a browser with a normal adblocking function. They serve ads themselves, and use these to fund services like Brave News, Brave Talk and Brave Search. They have an option for the browser to use the OS's toaster popup system to show you ads at predetermined intervals. If you sign up for this, Brave will use a part of their ad revenue to buy BAT from the open market and give it to users who watched these toaster popups. They have a tipping service where content creators, commenters on eg. Twitter and websites can be tipped with BAT. The people who got tips now have stuff Brave regularly buys from the open market with their ad revenues. So they serve ads on their own services same as anyone else, they just build them to be privacy respecting. The tipping service + toaster popups combo is intended to replace some of the lost revenue from adblockers like Brave Shields and uBO nuking most ads since most ads are tracking driven. But ads on websites are never replaced, just blocked the same way uBO blocks them, with the same filter lists.