Condé Nast, the 111-year-old global mass media company, is testing the Ripple-backed Coil online payment platform, for monetization with the help of its 144 million readers.
On Sunday, June 14, Eric Dadoun, a tech start-up investor and enthusiast, took to Twitter to question when “Wired enabled web monetization with Coil?” Wired is one of Condé Nast’s most popular digital publications. Its integration with Coil allows users to support content creators by using the Ripple (XRP) cryptocurrency.
In response to Dadoun’s query, a Ripple enthusiast in New Zealand listed the several US media companies that have followed Wired’s footsteps in monetizing web content with the help of Coil. Some of the notable brands listed include:
- The New Yorker
- Condé Nast Traveller
- Vanity Fair
The use of crypto to pay content creators such as writers and artists in real-time is revolutionary. By using Coil, content creators can receive payments in over 50 fiat currencies or in crypto (XRP or other altcoins). Readers are required to make payment before gaining access to each content on the above-listed websites.
In 2019, Coil was awarded over $4 million and an XRP grant of one billion. Last month, Coil onboarded WordPress onto its platform by releasing a plug-in. Coil is one of Ripple’s largest investments.
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