Today Ripple’s Xpring announced a “grant” of 1 billion XRP tokens to content monetization platform
Coil. At today’s XRP value that equates to $260 million. Coil CEO Stefan Thomas was one of the co-creators of the Interledger Protocol developed by Ripple. He was also Ripple’s CTO until May last year when he formed Coil.
Ripple’s Chairman Chris Larsen has been on Coil’s board since it was set up and Xpring participated in the $4 million Coil seed round.
Coil’s mission is to build an ecosystem of creators, developers, companies and nonprofits to use XRP to pay for content using the “Web Monetization” open standard. The aim is to supplant ad-supported content and avoid the need to have several subscriptions.
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