Giving creators control over distribution and monetization
Ripple’s infrastructure development and XRP adoption initiative Xpring announced a 1 billion XRP (roughly $265 million) grant to web monetization platform Coil on Aug. 15. Coil will reportedly use the funds to build an ecosystem of creators, developers, companies and nonprofits that use XRP through the Web Monetization open standard.
Coil is a platform that provides an alternative method for creators to monetize their content on the internet. Users can post public and exclusive content on the platform, which is automatically enabled for streaming payments. Alternatively, creators can monetize their own websites by adding a simple tag. Coil CEO Stefan Thomas commented:
“Creators want more choice and control over how their content is monetized and distributed […] Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe.”
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