A new platform created by Ripple’s former CTO is now integrated with YouTube and Twitch, allowing content creators to accept XRP. Internet content creators can now accept XRP tokens as payments from the users directly. The whole tipping-for-content has become possible because of Coil. The company Coil has been founded by the former CTO of Ripple Labs – Stefan Thomas.
Coil, a company that aims to give internet content creators new ways to monetize their work, is now in beta. So far, the company has integrated with YouTube and Twitch, allowing viewers to donate XRP to their favorite channels.
Coil is actually the first when it comes to paying out websites using Web Monetization, an Interledger-powered standard that would enable browsers to pay websites. Towards that goal, Coil will be compatible with some of the biggest names in the web industry, including YouTube, Wikipedia, Twitch, Internet Archive, and Beat, for starters.
Stefan Thomas said:
“Others have created subscription services that bundle content. But micropayments and subscriptions have always been built as closed systems, which fail to capture the huge variety of content on the web. Coil will be the first when it comes to paying out websites using Web Monetization — the Interledger-powered standard enabling browsers to pay websites. The Coil will be compatible with popular web industry names that include YouTube, Wikipedia, Twitch, Internet Archive, and Beat, among others.”
For future adoption, there are a number of possibilities that Coil has and especially in the field of subscription-based content. Reportedly, Coil offers a use case, as the browser extension could promise to release web content for XRP, be it text, video, sound, or anything else.
A redditor wrote:
“Think Spotify, think Uber, think ads on the web – or no more ads on the web,” while commenting on the additional features of Coil. This is just the beginning of Internet of Value! COIL is big, COIL is huge – Coil deserves as much attention as we are giving Ripple!”