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- Web monetization is an alternative revenue model as it does not rely on advertising your work, virtually or digitally.
- Content creators will receive micropayments in the form of XRP for his work and the creator can also accept payment in other cryptocurrencies.
- Cryptocurrencies like BTC and Ethereum are part of this payment network. This will enable even the smallest of creators to earn and grow.
Conde Nast, with over 366 million consumers in digital media and 384 million in social media platforms, is testing web monetization platform Coil for all its users.
How Does Web Monetization Work?
Web monetization is an alternative revenue model as it does not rely on advertising your work, virtually or digitally. Coil uses the Interledger Network, which allows quick movement of money in all forms for the content that you create. For Coil membership, users have to pay $5.0 to stream monetized content from all over the world.
It is a creation of Ripple’s Xpring’s investment arm which provided a grant of ‘1’ billion XRP tokens last year which equals approximately $260 million. The platform allows you to earn money in various forms regardless of your geographical location. Advertising and individual subscription to all websites are a thing of the past with the latest financial technology disruption. Content creators will receive micropayments in the form of XRP for his work and can also accept payment in other cryptocurrencies.
The Future of Coil
Cryptocurrencies like BTC and Ethereum are part of this payment network which will enable even the smallest of creators to earn and grow.
Coil facilitates the monetization of digital content. Its founder and former Ripple CTO Stefan Thomas exclaims, that it will benefit the transfer of finances between various forms at a brisk pace. Users of Conde Nast will be able to use websites such as The New Yorker, Teen Vogue, and Vanity Fair among others with the help of digital currency. A group of companies, including Coil, have agreed to give away $100 million as a grant for web monetization. It has a bright future for creators as well as digital currencies around the world. Thus, Creators have more control over their content and are free to accept payments in their desired mode.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
