— Coil (@Coil) May 1, 2019
In an interview with CoinDesk, Thomas reveals that the closed beta of the Coil blogging platform, which includes an optional $5 monthly subscription that automatically pays content creators as you browse, saw more than 1,000 test users.
Coil is working with digital asset management platform Stronghold to develop numerous cash-out options for users, including USD. The platform currently sends payments via the Ripple Interledger Protocol and allows users to connect their profile directly with the XRP Tip Bot.
“Every participant can decide what currency they want to use,” Thomas told CoinDesk. “Part of the next phase is really to experiment with what works, both from a creator’s side – where the constraints are, ‘How do I get some good quality bonus content without investing a huge amount of effort?’ – and from the users’ perspective of, ‘What will people actually sign up for?'”
Apart from the Coil platform, which will feel familiar to anyone who’s used Medium, website owners, Twitch streamers and other content creators can utilize Coil to monetize their content as long as users have the browser extension active.
“The standard that we’re built on, called Web Monetization, is intended to be a browser standard someday. But in order to be a browser standard, first you have to show some market traction, so that’s what we’re building out right now,” said Thomas.
Content creators and users can now sign up for Coil and join us on the platform.
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.