Coil
Coil, founded in 2018, aimed to establish Web Monetization as an open standard for creators and developers, but will discontinue its service on March 15, 2023.
Founded in 2018
Coil was established in 2018 with the goal of developing an open standard for Web Monetization. The company aimed to create new opportunities for creators and developers to receive payments online.
Products and Services
Coil introduced several innovative products and services focused on web monetization. Notably, the company launched the Coil Web Monetization plugin for WordPress, which provided an alternative to traditional content monetization methods. In 2020, Coil updated this plugin to Version 2.0, enhancing its capabilities. Coil also partnered with Samsung Internet to enable Galaxy device users to activate streaming micropayments. The company's services will be discontinued on March 15, 2023.
Collaborations and Partnerships
Coil engaged in multiple collaborations to advance its mission. The company partnered with Hacker Noon, raising $1M to facilitate streaming micropayments between readers and writers. Additionally, Coil supported the launch of the Mojaloop Foundation, which aims to scale digital financial services globally. The partnership with Samsung Internet further highlighted Coil's commitment to integrating micropayments into mainstream devices.
Events and Sponsorships
Coil actively participated in various events to promote web monetization. In 2022, the company was a presenting sponsor at MozFest, where it showcased its web monetization solutions. Coil also hosted several online conversations, including a YouTube Live event with the Internet Archive and multiple TwitterSpaces discussions focused on digital payments and financial inclusion.
Micropayments Technology
Coil's innovative technology allowed for seamless micropayments on the web. The Coil extension automatically identified monetized sites and facilitated payments without user intervention. This approach aimed to simplify the process of supporting online content creators. Additionally, Coil introduced Uphold as its wallet provider, enabling payouts in over 50 currencies.