Well is it?
Of course, it is because you get paid! I wanted to deep dive into how much you actually get paid using coil. I also wanted to see how much you get paid if it were popular like Youtube or something of that nature.
What is Coil?
In a basic sense, COIL is a web monetization platform that pays creators by streaming payments over ILP (Interledger Protocol) in the form of payment they wish. Usually this is XRP at the moment, but ILP can give you your money in any form you like. You can insert a simple META tag in the header of your website to be paid or host your content on Coils website. Subscriptions are not required, but to pay creators you can subscribe for $5 per month. The subscription can also unlock premium content that creators can choose for Coil Subscribers to only see.
How Much Do I get Paid?
So these calculations I'm performing is based off the original COIL payment pointer that would show up on a coil monetized site. These are probably not accurate, or maybe they are :) I ran three tests and here are the screenshots below.
This puts an average profit of $0.00936733 per 60 seconds of watching / reading of your coil enabled content. That may not seem like a lot, but what if we compare it to figures of something like youtube.
$0.00936733 x 5 minute video = $0.04683665 for one user watching your 5 minute youtube video.
Now again, probably seems worthless right? Well what if your video got 1 million views?
$0.04683665 x 1,000,000 = $46,836.65......WOWZERS
Now a lot of things have to come into play for this to work and there may be other limitations that prevent something like this happening. For one, 1 Million subscribed Coil users would need to watch the video. There also could be caps and such to prevent COIL from running out of money. Who knows, but at its core basic payouts calculated it seems pretty cool!
I'm going to assume the amount paid severely decreases the longer the content is watched, but even at a fraction of this payout, you could earn probably $4000 for a 1 million view video with no ads!
I truly believe if content creators moved to COIL it would make the internet a better place for content sharing. Ads are annoying and the sooner they are gone the better!