Ripple’s Xpring Gives $265 Mil in XRP to Content Platform Coil
Jack Martin's original article for cointelegraph.com reduced by 43%
Ripple's infrastructure development and XRP adoption initiative Xpring announced a 1 billion XRP grant to web monetization platform Coil on Aug. 15. Coil will reportedly use the funds to build an ecosystem of creators, developers, companies and nonprofits that use XRP through the Web Monetization open standard.
Coil is a platform that provides an alternative method for creators to monetize their content on the internet. "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." As subscribing fans enjoy content, Coil uses an open API called Web Monetization to stream micropayments to creators in real time. "Advertising and site-by-site subscription models are ready for disruption 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." If Peter Brandt is correct, then Coil should start putting that XRP to work straight away.
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