Coil is a new platform that is helping creators monetize their content while earning Ripple XRP on YouTube and Twitch. The platform reports that it’s experiencing an increase in the number of sign-ups since releasing its beta version.
It seems the lure of earning some crypto for their content is proving strong for some content creators. Users are moving to the platform in large numbers, and as Coil says, they have already received requests from over 500 YouTube channels and websites to sign up.
Coil Offers Surfers A Way To Send Micropayments
The San Francisco based startup is now giving internet surfers a new way to send micropayments over the web. YouTube channels and websites sign up to receive XRP on the interledger protocol while internet surfers sign up and pay a flat monthly fee to Coil. It allows them to send instant donations around the web.
As the user engages with various platforms on the internet, the platform automatically sends micropayments to content creators directly. Helping reward them for their creations, efforts, and causes.
Stefan Thomas, the Founder of Coil and the former CTO at Ripple, says it’s just the beginning for the project.
“One of the unique features of web monetization is that the website is paid in real time. This allows creators to provide ad-free experiences, exclusive content and new kinds of applications. While Coil today is largely about donations, very soon we want to show how web monetization can improve your browsing experience.”
The startup also says it has had to remove monetization for Archive.org and Wikipedia. The reason being a misconception that the platform had officially partnered with those organizations.
“With many web-monetized sites coming online, we’ve decided to remove our integrations with Wikipedia and Archive.org which were intended to give our very first users some places to try out web monetization.”
The platform adds that the decision was based on the fact that many people mistook their decision to support Wikipedia as an official endorsement or partnership.
Interested in learning more about XRP—the token that Coil utilizes? You can read our prediction on XRP price here.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology