Coil, a Ripple-backed content platform, has recently partnered with Mozilla, a major open-source browser, in order to give away nearly $100 million grant for web monetization.
The team behind Coil revealed in a Sept. 16 blog post that the company together with Creative Commons — a nonprofit organization which provides offers creators with free licenses — and Mozilla will jointly donate $100 million to fund a program that facilitates the improvement of web monetization.
Launch of “Grant for the Web”
“Grant for the Web” is the grant mentioned above that would award creators as well as promote the open Web Monetization standard. The nice thing about Web monetization is that it eliminates the third party like payment platforms or companies since users are able to independently reward creators.
In that perspective, Creators and developers who advocate for and support web monetization will benefit from $1,000 to $100,000 grants courtesy of the companies. The openly licensed software, as well as content, would benefit from the majority of the grant money.
The news has come after Xpring, XRP adoption initiative, gave Coil a 1 billion XRP — which at that time was worth roughly $265 million — grant and Ripple offered infrastructure development.
Stefan Thomas, CEO of Coil, made the following comments:
“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.”
Brave Browser’s achievements
After unveiling a feature that would tip content creators earlier this year, Brave — a blockchain-based decentralized browser — went on to add the option to Vimeo and Reddit. Over the past year, there has been a 1,200% increase in the number of publishers using Brave.
Specifically, Up to August, the publishers who were using the Brave Reward program included 2,917 Reddit publishers, over 12,000 Twitch publishers, 166,698 YouTube publishers, 17,417 Twitter publishers — totalling to 29,278 website publishers.