Global media powerhouse Conde Nast, which attracts more than 144 million readers and 435 million monthly visitors, is testing Ripple-backed Coil in an effort to monetize its web content.
A tech enthusiast, Eric Dadoun, called out Conde Nast’s tech publication Wired for enabling the online payments platform Coil. It allows users to stream real-time crypto micropayments to writers, artists and online content creators by using Ripple’s native cryptocurrency XRP, as well as other digital assets.
Wild article re: long-distance eavesdropping research out of Israel but also … when did @WIRED enable #webmonetisation with @Coil? https://t.co/dR4MsWtP6i pic.twitter.com/olWJxXPqZw
— Eric Dadoun (@EDadoun) June 14, 2020
Ripple community members were quick to pick up on the development and discovered that most of the media company’s brands in the US have enabled Coil.
- The New Yorker
- Vanity Fair
- Teen Vogue
- GQ
- Allure
- Conde Nast Traveler
- Architectural Digest
- Bon Appetit
XRP Arcade, an independent media source, revealed that other US-based Conde Nast brands are also web monetized with Coil including Vogue, Epicurious, Glamour, Self, Pitchfork, GQ Style and Them.
Coil co-creator Niels confirms that the media giant is testing the platform on their websites.
“They are doing a limited test. So probably no access to ‘subscriber-only’ content yet.”
As a decentralized web content monetization platform, Coil is designed to offer online publishers more control over their work as it allows fans to reward content creators in both crypto and fiat currency.
The team at Coil recently announced a number of developments including a new WordPress plug-in and a partnership with money platform Uphold. Coil is one of Ripple’s key investments and has received a one-billion XRP grant and $4 million in a 2019 funding round.
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