Coil, Mozilla, Creative Commons Offer $100M Grant for Web Monetization
Ripple-backed content platform Coil and open-source browser Mozilla have teamed up to give away a $100 million grant for web monetization.
Ripple-backed content platform Coil and major open-source browser Mozilla have teamed up to give away a $100 million grant for web monetization.
In a Sept. 16 blog post, the team behind Coil revealed that it, Mozilla and Creative Commons, a nonprofit that provides free licenses for creators, are jointly donating $100 million for a program aimed at facilitating and improving monetization on the web.
“Grant for the Web”
The aforementioned grant that intends to benefit creators and promote the open Web Monetization standard is dubbed “Grant for the Web.” Web monetization lets users independently reward creators, thus eliminating a third party such as companies or payment platforms.
The companies are planning to provide $1,000 to $100,000 grants to developers and creators who support and advocate for web monetization, wherein the majority of the grant money will be allocated to openly licensed software and content.
Initiatives on content monetization
The announcement follows Ripple’s infrastructure development and XRP adoption initiative Xpring’s 1 billion XRP grant to Coil on Aug. 15 — worth roughly $265 million at the time. Coil CEO Stefan Thomas commented:
"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.”
Earlier this year, blockchain-based decentralized browser Brave announced a feature for tipping content creators and subsequently added the option to Reddit and Vimeo. The number of publishers using Brave increased by 1,200% over the past year.
As of August, 29,278 website publishers including the Washington Post and Smithsonian Magazine, 17,417 Twitter publishers, 2,917 Reddit publishers, 166,698 YouTube publishers and over 12,000 Twitch publishers used the Brave Reward program.