By
Godfrey Benjamin
April 24th, 2024
Condé Nast enables monetization for all its websites with XRP-supported platform Coil in a limited test of the service. Meanwhile, Ripple Labs is listed as number 28 on CNBC’s Disruptor 50.
One of the world’s largest mass media companies Condé Nast is testing XRP-backed Coil in a bid to monetize its web content. Presumably, the move will significantly disrupt the content creation industry with the help of Ripple‘s XRP that is among the leading digital assets in the cryptocurrency industry.
The announcement was made by Eric Dadoun after noting an article on the Wired web page containing Coil enabled features. “This is quite exciting. This is exactly what I wanted as a consumer Pay Coil and gain access via Puma Browser or my desktop extension to content behind paywalls that I otherwise wouldn’t read. I can pick and choose and the platforms gain new rev streams,” Dadoum said.
However, the Coil co-creator said that this is a limited test to subscribers only. In the future, a timeline not given, Coil co-creator said the service will be made available to all with better and enhanced features.
Condé Nast and XRP-powered Coil
To put it into perspective, Condé Nast attracts more than 84 million consumers in print, over 366 million in digital and over 384 million across social media platforms. Some of its brands include Vogue, The New Yorker, Glamour, Vanity Fair, Wired, Architectural Digest, GQ, Pitchfork, and Bon Appetit among many others.
The mass media company will be testing XRP-supported Coil ability to offer a more efficient and less intrusive way to monetize its content. Coil platform was developed by former Ripple CTO Stefan Thomas to be the first decentralized platform to offer content creators a chance to monetize their work.
News from Ripple
In 2019, the startup received one billion XRP as an incentive to build its capacity and an additional $4 million grant for the same purpose. Fast forward a year later and the deal seems to be bearing fruits despite the constant criticism to Ripple on its market monthly institutional sales.
The company is geared up on improving XRP’s utility and liquidity by diversifying its use according to the market’s needs. Recently, the company announced its move to venture into smaller retail payments markets by tapping on RippleNet ODL services. As a result, the company has been identified among the top fintech companies and has been listed as number 28 on CNBC’s Disruptor 50.
XRP is among the most discussed crypto assets in different social media platforms and has been trading around 20 cents. If the parent company, Ripple Labs, is able to convince the market makers and regulators on its use, the asset might see its liquidity level rise hence pulling with it its market value, which will make the company gain more in value as it’s the largest shareholder in the asset.