Ripple-Backed Startup Giving Away $100 Million to Transform Web Monetization

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The Ripple-backed startup Coil is partnering with Mozilla and Creative Commons to launch a $100-million grant for content creators and developers.

Coil is designed to give online publishers a way to directly monetize their work by allowing fans to reward them in both crypto and fiat currency.

The new grant program is designed to boost coders 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.

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.

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.

Popular sites like CSS-Tricks are experimenting with Web Monetization as a more user-friendly, privacy-preserving way to make money. And over at js13kGames, indie game developers have built some of the first web-monetized games.”

Each grant will range from $1,000 to $100,000.

Anyone interested in submitting a proposal can sign up at grantfortheweb.org.

Ripple recently invested 1 billion XRP into Coil to help push the adoption of XRP and the Interledger Protocol (ILP), an efficient method of routing payments across different ledgers.