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First party ads (and trackers) are those originating from the same domain as they are on. Orion blocks those by default, Brave does not.

If facebook.com loads ads from fbcdn.net (also owned by Facebook), is the ad first or third party?

Doesn't matter if you use Orion, it blocks them all.

> By default Brave will not block first Party ads which are actually part of the sites you visit

I'd guess something like ads running from their own domain, hence first-party ads.