0:00:02.407,0:00:04.177
You've recently launched Coil,

0:00:04.177,0:00:07.277
a platform to help creators[br]online monetize their content.

0:00:07.277,0:00:08.351
How does it work?

0:00:08.351,0:00:12.207
So Coil is based on an open web standard[br]called web monetization,

0:00:12.207,0:00:15.627
and what that means is that[br]there's a feature in the browser

0:00:15.627,0:00:20.161
that allows to pay different websites[br]as you're browsing their content.

0:00:20.161,0:00:23.618
So rather than, you know, looking at ads,[br]may be paying a subscription

0:00:23.618,0:00:25.199
for each website you go to.

0:00:25.199,0:00:27.535
This kinda allows you to[br]go to any website out there

0:00:27.535,0:00:29.005
and pay them like a small amount.

0:00:29.005,0:00:31.105
Opening up the web for[br]monetization to everybody,

0:00:31.105,0:00:33.825
rather than just giant platforms[br]that have lots of users

0:00:33.825,0:00:34.798
and lots of content.

0:00:34.798,0:00:38.505
So we're hoping to, kind of,[br]redistribute the web a little bit

0:00:38.505,0:00:40.495
and kind of make it easier[br]for independent websites

0:00:40.495,0:00:42.405
to compete with the larger sites.

0:00:42.405,0:00:44.211
So where's Coil available right now?

0:00:44.211,0:00:46.871
So Coil is available worldwide[br]to anybody with a credit card,

0:00:46.871,0:00:49.281
and then, if you're a creator,[br]you can get paid out

0:00:49.281,0:00:51.888
using any Interledger enabled wallet.

0:00:51.888,0:00:54.411
Right now there's U.S. dollar options,[br]so you can withdraw

0:00:54.411,0:00:56.831
to a U.S. bank account,[br]and there are XRP options.

0:00:56.831,0:00:59.291
But we expect that to[br]expand in the future.

0:00:59.291,0:01:02.041
You recently announced[br]a partnership with Imgur.

0:01:02.041,0:01:03.411
What's the goal of this partnership?

0:01:03.411,0:01:06.411
We're trying to establish a new web[br]standard, web monetization.

0:01:06.639,0:01:10.579
And in order to do that,[br]you need to reach a lot of people,

0:01:10.579,0:01:12.969
and you need adoption for the standard.

0:01:13.072,0:01:16.482
And so Imgur is gonna be a great partner[br]in terms like bringing this

0:01:16.482,0:01:17.632
to a larger audience,

0:01:17.632,0:01:22.064
explaining what it's all about and giving[br]more people access to it.

0:01:22.064,0:01:24.144
What kind of feedback are you getting[br]from these creators

0:01:24.144,0:01:25.494
that are using your platform so far?

0:01:25.494,0:01:28.544
What we hear from creators is that[br]it's really hard to monetize your content,

0:01:28.544,0:01:29.694
and when you do,

0:01:29.694,0:01:32.064
you're very dependent on[br]the platforms that you use.

0:01:32.064,0:01:33.464
Because they have all the users,

0:01:33.464,0:01:35.054
they have a huge amount[br]of content already.

0:01:35.054,0:01:36.444
So they hold all the cards.

0:01:36.444,0:01:37.594
And so as a creator,

0:01:37.594,0:01:39.734
this is kind of an open[br]alternative to that.

0:01:39.734,0:01:42.184
You can be on a smaller[br]site and still anyone

0:01:42.184,0:01:44.924
that supports the standard[br]will be able to pay you.

0:01:44.924,0:01:48.164
So it really kinda opens up the space[br]for smaller creators,

0:01:48.164,0:01:49.472
for independent creators.

0:01:49.472,0:01:51.212
What's your greater vision for Coil?

0:01:51.416,0:01:54.396
Yeah, our hope is that one day[br]the standard will be so ubiquitous

0:01:54.396,0:01:56.236
that most websites will support it.

0:01:56.236,0:01:58.296
And then, you know, maybe[br]it's even like bundled

0:01:58.296,0:01:59.476
with your internet connection.

0:01:59.476,0:02:01.456
So rather than having a[br]separate subscription,

0:02:01.456,0:02:03.356
part of that package is, you know,

0:02:03.356,0:02:06.026
money that can help[br]content creators' websites.

0:02:06.026,0:02:08.556
And so rather than getting[br]paywalls everywhere,

0:02:08.556,0:02:10.066
getting ads everywhere,

0:02:10.066,0:02:12.544
having to get subscriptions[br]for different sites.

0:02:12.544,0:02:14.096
Maybe it's all kinda bundled together

0:02:14.096,0:02:17.028
and you can use whatever[br]you want across the web.