Imgur is an American online image sharing community and image host founded in 2009. Based in San Fransisco, Imgur boasts 300 million monthly users, also known as “Imgurians”.
Imgur and Coil
Back in June 2019, Imgur announced that it raised $20 million in a venture equity round from Coil, a micropayment tool for creators that Imgur has agreed to build into its service. Imgur would eventually launch a premium membership with exclusive features and content reserved for Coil subscribers.
Introducing Imgur Emerald
Today, almost a year later, Imgur rolled out Emerald in alpha on desktop.
Coil Members can have an exclusive first look at Emerald. They will be able to:
- Enjoy ad-free Browsing: All the magic and wonder of Imgur without the ads and promoted posts.
- Unlock exclusive Avatars & Snazzy Trophy: Unlock exclusive avatars and let everyone marvel at your Emerald trophy.
- Access Founder’s Club: Coil Members who activate Imgur Emerald in alpha also enjoy Founder’s Club status.
- Support Imgur: By supporting Imgur, you’re giving them more freedom to build community-first features.
Users with a Coil membership get to browse Imgur ad-free and get a handful of features exclusive to members. The Emerald experience is free from advertising on the desktop website, including display ads and promoted posts. Imgurians with Emerald will still receive Imgur announcements such as new product features and community events, even if they’re sponsored.
Coil is a platform that provides an alternative method for creators to monetize their content online. As subscribing fans consume content, the platform uses an open API called Web Monetization to stream micropayments to creators instantaneously. The API is built on the Interledger Protocol (LP).
Users pay Coil a fixed monthly fee of $5, install its browser extension, the Interledger protocol is used to route assets around, and then Coil pays creators dollars or XRP tokens per second that the subscriber spends consuming their content. Coil unlocks special content and features across the internet on sites like Twitch, Cinnamon, Simmer, with many more to come.
In August 2019, Coil received 1 billion XRP from Xpring, Ripple’s investment arm, and developer platform. Coil would use the 1 billion XRP to build an ecosystem of creators, developers, companies, and nonprofits that are using XRP through the Web Monetization open standard. A portion of the commitment would also be used to help build awareness of Coil among creators, consumers, and strategic partners.