Coil Offers Content Creators a Monetized Platform, Enables Payment with Interledger Protocol

Coil provides the first glimpse at the envisioned business model for content creators along with streaming micropayments as well as an alternative to advertising and site-by-site subscriptions.
On May 1, 2019, Coil announced its new publishing platform designed to help creators monetize their content.

San Francisco-based startup, Coil was formed by the former CTO of Ripple. Coil as a platform supports creators over the spectrum, comprising writers and journalists, video creators, podcasters, streamers, musicians, photographers, and artists.

Executive Opinion

CEO and founder of Coil, co-creator of ILP (Interledger Protocol) and former CTO of Ripple, Stefan Thomas, stated, "Content creators are the fabric of the internet, but too few can make a living doing what they love. People want writers, artists, and other creators to thrive. People don't want their online experiences to be interrupted by ads and their data sold to the highest bidder. Coil is reimagining the way creators make money so that they can provide their fans with an effortless way to experience and support their work.

What’s new?

• Customizable Creator Page- For the first time creators can now post public and exclusive content using a customizable creator page on the website which is automatically empowered for streaming payments.
• Monetize- Creators with their own website, can now monetize their website with a normal hashtag.
• Creator Support- People who support the new Coil ecosystem and creators can now join the community with a 5$ monthly subscription (neither subscription fee nor membership fee is charged to be a creator).

Coil streams micropayments to creators in real time with the help of Interledger Protocol. Interledger Protocol grants any currency or asset to be used for sending and receiving payments. All this happens while the subscribers enjoy the content, notes the announcement.

Currently, creators have the choice to be paid out in USD via cheque, ACH (Automated Clearing House) or wire transfer or in the cryptocurrency XRP. Although, in future creators will even get the option to receive their payments in any currency or asset using Interledger.