Revolutionizing Content Monetization with Coil's XRP Grant

A Big Boost for Creators

On August 15, Ripple’s Xpring initiative made headlines by announcing a staggering 1 billion XRP grant, valued at approximately $265 million, to the web monetization platform, Coil. This funding is set to create a thriving ecosystem involving creators, developers, companies, and non-profits, all utilizing XRP via the innovative Web Monetization standard.

Empowering Content Creators

Coil provides a refreshing alternative for content creators seeking better monetization options online. This platform allows users to publish both public and exclusive content with a unique twist: it seamlessly enables streaming payments. In layman’s terms, creators can pepper their websites with just a simple tag, and voilà, their content is ready for compensation!

The Vision of Coil’s CEO

“Creators want more choice and control over how their content is monetized and distributed […] Web Monetization provides a solution that is more fair, open and inclusive for creators and fans around the globe.” – Stefan Thomas, CEO of Coil

How Does It Work?

As fans interact with content, Coil employs an open API, known as Web Monetization, to stream micropayments to creators in real-time—talk about instantaneous gratification! This method is powered by the Interledger Protocol, co-developed by Thomas, who also has a rich background as Ripple’s former CTO.

A Disruptive Shift in Monetization

Ethan Beard, Xpring’s senior vp, chimes in, highlighting the pending disruption in traditional advertising and subscription models: “The low cost and fast transactions of XRP makes it an ideal tool for Coil to offer an alternative monetization method and have a positive impact on creators.” Looks like the digital payment world is ready for a facelift!

What’s at Stake for Ripple?

Now, before we pop the bubbly, it’s worth noting that while Ripple’s grand funding can potentially change the game, not everyone is singing its praises. Veteran trader Peter Brandt cautions that XRP could tumble an additional 20%, criticizing Ripple for alleged price manipulation. To add more spice to the story, Ripple is currently under scrutiny from the Securities and Exchange Commission (SEC), with an ongoing lawsuit claiming that they sold unregistered securities. Ah, just another day in the world of cryptocurrency!