Website owners have searched for the ultimate web monetization method since the waxing days of the internet. In the 1990s, banner ads and sponsored content were popular, but those quickly gave way to something much more robust. Pay-per-click (PPC) advertising wasn’t invented by Google, but Google took it up a notch with AdSense, giving web publishers an opportunity to earn revenues from web traffic clicks. For a long time, it was the best option web publishers had.
Membership sites have been around almost since the first day of the commercial internet. After WordPress became the open-source web publishing standard, their numbers grew.
The rise of social media has also played a part in the evolution of web monetization. Facebook introduced ad retargeting, a way for users to view ads based on websites they visit while not logged into the platform. Most Facebook users aren’t even aware that they’re the product.
Today, web monetization is taking another turn. The advent of Bitcoin, which reinvented the structure of data, has given birth to new forms of monetization.
An Introduction to Coil and Interledger
In his three-part series titled The Internet of Money, author Andreas M. Antonopoulos said the future will be more about protocols than platforms. I agree. That is especially true of web monetization.
Coil is simple, versatile, and easy to implement. Any web publisher can use it to increase revenues because all it takes is a payment pointer and a little bit of code. Users can pay a $5 monthly fee, similar to Medium, which is used to pay web publishers using the protocol. After implementing the non-invasive code into the <head> section of their websites, web publishers sit back and let their current traffic dictate their income.
The Coil monetization engine is fueled by Interledger, an open protocol suite designed for sending payments across different blockchains and distributed ledgers. Its super power is making blockchains interoperable.
It isn’t necessary to subscribe in order to implement the Coil protocol. Once you add the code to your websites, you’ll earn 36 cents per hour of web traffic. If you have 60 website visitors, for instance, and each one spends one minute interacting with content on your website, that hour will earn you 36 cents. Granted, that’s not a groundswell of revenue, but if you have multiple websites each attracting thousands of visitors per month, you could supplement your current revenue sources with some decent Coil monetization.
What Crypto Do You Have In Your Wallet?
Unlike many cryptocurrency projects, Coil doesn’t make you jump through hoops. But you do need a wallet. Currently, you have two options: Uphold or Gatehub. Once you set up your wallet, you’ll need to find your payment pointer and add that to your Coil account. You’ll receive micropayments for your traffic as you earn it. The default currency is XRP. I’m hoping Coil, with no native currency, will add other options.
There are other ways to earn with Coil, so you don’t have to own any websites. For instance, you can monetize your video content on YouTube and Twitch. Other platforms that allow users to monetize using the Coil protocol include:
- Cinnamon
- Dev
- Exposure
- Hashnode
- Hackernoon
- Simmer
- Flood Escape
- write.as
Monetizing through third-party sites means even coders, gamers, journalists, and photographers can monetize their content using the Coil and Interledger protocols.
In addition to third-party platforms, Coil has a native blog platform for creators. You can publish your content on the Coil blog platform and earn from that too. As a bonus, you can create content that is public or create content exclusive to Coil subscribers.
Coil is not yet a household name, and it may never be, but I see protocols similar to Coil taking web monetization toward new and exciting futures. I want to be there to see it happen. Don’t you?
DISCLAIMER
I am not a financial advisor, nor do I give financial advice. The above information should not be considered financial advice but is for informational purposes only. Neither I nor Cryptowriter are responsible for financial losses incurred as a result of acting on this information. Please consult a financial advisor before making any financial decisions.
This post is published for Cryptowriter in association with Voice.
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