A few days ago, Ethereum World News reported of how Coil, by former Ripple CTO, Stefan Thomas, was testing web monetization by donating XRP to Wikipedia for every user of Coil who visits the site. Vibrant XRP community member, Hodor, explained web monetization as follows:

While Web Monetization is merely a draft version of a new standard at present, it forms the basis for supporting a new kind of Internet – one in which content creators can be rewarded for their services, applications, and creations without having to rely on privacy-destroying web advertising.

Monetize your Website, Blog or Youtube Channel

In a tweet earlier today by Dario Šuveljak, notified the crypto and content creating community that they could monetize their site, blog or youtube channel using Coil. Dario went on to provide a how-to-guide in the tweet that can be found below.

Summarized Steps Version of the How-to-Guide

The step by step guide provided by @stedas can be summarized as follows.

Create an account with Coil.com To create a way to receive payments, link your Coil account to your XRP Tip Bot account To do this, log in at www.xrptipbot.com using your Reddit / Twitter / Discord username After logging into the XRP Tip Bot, click on the Deposit tab at the top Select ILP to get your Payment Pointer that should look something like $twitter.xrptipbot.com/Username Copy the Payment Pointer and go back to your Coil Account In your Basic Profile page, click on Payment Pointer and paste your copied custom pointer. Make sure you save the entry Still on the Basic Profile, click on Web Monetized Sites to get the code to be placed on the Head section of your website Visit www.fudbingo.com/coilchecker to check if Coil has been activated on your website For Youtube, click on Social Accounts on your Coil profile. Login to Youtube and allow Coil to access your account

The full step-by-step guide can be found here.

What do you think of the new concept of monetizing the web using Coil? Will it give content creators a boost to create unique content? Will Coil solve the issue of privacy-destroying web advertising? Please let us know in the comment section below.

[Image courtesy of medium.com/coil]

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