GateHub XRP Ledger gateway and wallet provider is working together with Coil to create a new payment channel for web creators. Read our official press release here.
An increasing number of writers, artists and streamers want to earn a living by creating content on the web. The prominent way of monetizing content right now is by advertising, which negatively impacts content designs and user experience, or subscriptions which create paywalls that may defer prospective consumers.
To tackle these challenges, GateHub and Coil have stepped together to create a unique way for creators to earn and consumers to pay for web content.
Introducing streaming payments powered by Coil and GateHub where web creators can monetize their content easily and consumers can pay via browser plug-in.
How does it work?
Coil is using Interledger to pay content providers a fixed amount per second for every visitor on their website, reader on their blog or viewer on their YouTube video. GateHub allows creators to receive micropayments in XRP and cash them out in USD, EUR, XRP, BTC or ETH.
How does it benefit the creators?
Creators get a unique Interledger address which is used as a payment pointer for incoming streams to their GateHub account. The setup is simple as all a creator needs to do is get their payment pointer from GateHub and paste it into their Coil account. With that, creators can easily monetize their website, blog and YouTube channel.
How does it benefit the consumer?
By paying a fixed amount per month Coil aims to unlock more and more content on the web for their users. The adoption of this business model will eliminate paywalls, take out intrusive ad practices, and reduce the need for individual subscriptions for each service.
How to participate?
Creators need to create an account on GateHub.net to generate their own unique payment pointer and then create a Coil account to web monetize their content. More about how to receive funds can be read here.
Consumers can pay directly to creators by creating a Coil account and subscribing to their service.
Who we are?
GateHub is an XRP Ledger gateway and wallet provider developing financial services based on Interledger, blockchain and traditional banking networks.
Coil is designed to build a better business model for the web by making it easy for creators to monetize their content on the internet.