Coil partners with OutVoice

Ripple backed web monetization platform Coil has partnered with OutVoice, a freelance payment solution.

According to the announcement, OutVoice has officially left beta testing and is open to any publication. OutVoice was created to solve “a horrible problem for everyone” involved in publishing freelance work: When Matt Saincome (one of the creators of OutVoice) was a freelance writer, he’d have to constantly bug editors so that he could get paid, but then as the founder of the satirical sites The Hard Times and Hard Drive, he realized that managing payments was a huge headache.

OutVoice simplifies the whole process by integrating directly into WordPress and other content management systems. When editors load a story into the CMS, they can also identify the contributor and the payment amount. Then once they hit publish, the payment is sent and should arrive in the freelancer’s back account within a few days. This means faster payments for freelancers while publications don’t have to worry about tracking invoices and writing checks.

By working with Coil, OutVoice can take advantage of new payment technologies like Interledger.

“Our goal at Coil is to make it easy and effortless for content creators to get paid,” said Coil CEO Stefan Thomas in a statement. “During their beta, OutVoice has already erased hundreds of years of lag time between freelance content creators and their paycheck. We’re excited to partner with OutVoice to promote more efficient payment solutions and processes, giving creators more time and money to create.”

What is Coil?

Coil enables creators to post public and exclusive content, which is automatically enabled for streaming payments. Creators can web-monetize their own websites by adding a simple tag. Those who want to support creators using Coil can join the community with a $5 monthly subscription. There are no membership fees for creators.
As subscribers enjoy content, Coil streams XRP micropayments to creators in real time using the Interledger Protocol, which allows any currency or asset to be used for sending and receiving payments. Creators have the option to be paid out in US dollars via check, ACH or wire transfer or in the cryptocurrency XRP. Over time, more currency payout options will become available as more wallets adopt the Interledger Protocol.
Coil launched its monetized publishing platform for creators in May 2019.

Coil’s “War chest”

Coil received 1 billion in XRP from Xpring back in August, to “support its mission to increase the utility of XRP and build a better business model for creators by making it easy to monetize content in a way that is fair, open, inclusive and built natively into the web.

Coil has already invested in Kava Labs (a company providing Interledger solutions for blockchains, wallets, and exchanges), Imgur (an online image sharing community and image host) and launched the “Grant for the Web“, a $100M fund to boost open, fair, and inclusive standards and innovation in web monetization.