Revolutionizing Web Monetization: Ripple-Backed Startup Gives Away $100 Million
There are some pretty interesting moves that are currently being made in the crypto space, moves which support innovation and development.
Now, it seems that a new way of performing web monetization is being developed which seems to be more profitable and safe.
Coil teams up with Mozilla and Creative Commons
Coil which is a Ripple-backed startup is teaming up with Mozilla and Creative Commons in order to launch a $100-million grant for developers and content creators, according to the latest reports coming from the online publication the Daily Hodl.
Coil has been designed to offer online publishers a way to directly monetize their work by allowing fans to offer them rewards in crypto and fiat money as well.
Promoting web monetization
This new grant program has been designed with the main focus to boost developers and creators who support and promote web monetization.
“We believe that this will disrupt siloed content subscription services in the same way that siloed ad-based online services providers like AOL were disrupted by the emergence of the open Web,” according to official notes.
The notes continue and say: “Audiences prefer to watch content on their terms and tend to punish companies who erect unnecessary roadblocks. Key pieces of infrastructure have already been built.”
The same grant program also highlights the fact that the “Puma Browser is the first browser with native Web Monetization support. Cinnamon is the first video sharing site entirely financed by Web Monetization. Stronghold (for US dollars) and XRP Tip Bot (for XRP) are two of the first Interledger enabled wallets.”
The notes also say that there are more platforms that are currently experimenting with web monetization in order to provide a more user-friendly and privacy-preserving way of making money for clients.
It’s been also noted that each one of the grants will range from $1,000 to $100k.
Coinbase is a digital currency exchange headquartered in San Francisco, California.