Coil Enhances Web Monetization with Real-time XRP Payments via GateHub

A New Dawn for Content Creators

In an exciting twist for online content monetization, Coil has teamed up with the payment gateway and XRP Ledger wallet provider, GateHub. This partnership, announced on October 1, empowers Coil users to receive payments in the form of XRP in real time. If you’re wondering how to turn those shiny XRP coins into cold, hard cash, fear not—GateHub allows for seamless conversion into euros, USD, Bitcoin, and Ethereum.

The Mechanics of Micropayments

Coil isn’t just your average “pay to play” platform. It’s revolutionizing how content creators get rewarded through a method called Web Monetization. When subscribers enjoy your content, Coil employs an open API to send micropayments your way—no waiting for the end of the month like in traditional models.

• Quick Payouts: Creators receive funds in real time, which can be life-saving when you’re on a tight budget.
• Open API: The magic happens through a system called Interledger Protocol, co-pioneered by Coil’s CEO, Stefan Thomas.

Backing from the Big Players

Coil isn’t just scrambling to make things work in the shadows. This platform has solid backing from Ripple’s investment arm, Xpring, which recently swooped in with a $4 million seed round and a staggering grant of 1 billion XRP (worth about $265 million). It’s the kind of financial security that would make any startup blush!

A Decentralized Future

In an intriguing development, on September 17, Coil joined forces with the open-source browser Mozilla and Creative Commons to create a $100 million grant program aimed at promoting web monetization. The funding will range from $1,000 to $100,000, nurturing developers and creators who push for decentralized content monetization.

Why Subscribe?

So, what’s the catch for content consumers? Well, to access the treasure trove of creative content on Coil, they’ll need to fork over a modest $5 monthly subscription fee. Think of it as your ticket to a newly available world of journalism, music, photography, and podcasts—all while supporting creators directly.