A new platform that allows content creators to monetize their content and earn XRP on YouTube, Twitch, and across the web says it has witnessed a surge of sign-ups since its beta release.
Coil, which launched their beta last month, says creators aren’t waiting around for invites to the platform. More than 500 websites and YouTube channels have now reached out to sign up.
The San Francisco-based startup gives web surfers a new way to send micropayments to the websites they visit. Websites sign up to receive XRP and other assets on the Interledger protocol, while web surfers sign up to pay a flat monthly fee to Coil to send spontaneous donations around the web.
As the user engages on various platforms across the net, Coil automatically sends micropayments to the website’s content creators, directly rewarding them for their efforts, creations and causes.
Ripple’s former CTO Stefan Thomas says the project is just getting started.
“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.”
Coil says it has removed monetization for Wikipedia and Archive.org because of misconceptions that Coil has 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.
Unfortunately, a lot of people mistook our decision to support Wikipedia as an official partnership or endorsement, so we want to be very clear that that was never our intent, and we apologize for any confusion.”