BlocksInform
Ripple has announced plans to expend over $260 million in XRP to content monetization platform Coil, a content monetization firm. Ripple’s investment arm Xpring reportedly participated in a $4 million round for the startup. According to a press release, Ripple’s donation is for establishing a community of “creators, consumers and strategic partners,”
Coil already provides a platform for content creators such as musicians to share content and receive payment for content used by consumers. Certain content creators have already begun to receive remuneration in dollars or the equivalent in X-P.
“Our dream is that you get one subscription and can browse the whole web and support the creators you enjoy without ads or paywalls,” Ripple CTO Stefan Thomas said.
Ripple Diversifying?
While the knock-on effect has become a major player in the cross-border remittance industry, its x-ray native token has not performed well in the marketplace. Its price has not increased significantly up to now, it has stagnated at best. Could the investment of the coil be a step towards diversification of the investment of the inverter because the performance of xrp is not very impressive?
The company appears to be serious about expansion as SVP in charge of xpring, Ethan Beard said the ripple didn't put a limit on how much money to put into the start-up. Xpring had earlier partnered with gaming startup, Forte to create an ecosystem that supports game developers. The partnership included $100 million in spin-offs, while Forte contributed technical expertise. These are only some of the investment partnerships in which Ripple is engaged.
XRP Still Sinking
Despite partnerships and the latest announcement, XRP remains at a trough like all other cryptocurrencies. At the time of writing, he lost 6.78 percent over the last 24 hours. The third-largest cryptocurrency entered the month of August trading at $0.3 but has since declined to $0.26 today.
The XRP could eventually recover and experience real price growth as it continues to be adopted in areas other than payment settlement.
