When presented with this hackathon our team talked about what we can build using web monetization with our existing platform.
We were excited to learn about this new web monetization api and what impact it can have on the future of the web.
Our basic understanding of the concept:
- Payment pointer is added to a meta tag in an html document.
- Payment pointers can also be set up in a more dynamic way on the servers.
- Web Apps can set up payment pointers and receive micro payments for users browsing app.
- Content Creators can set up payment pointers and receive micro payments for access to their music.
With some research and more understanding we noticed that web monetization would help us create a separate income stream to then increase our benefits for our users(Musicians). Not only helping our users but helping the web monetization community.
Initial Idea's
1. Open another revenue stream to Musicians from Musicoin
The way we deciding to integrate web monetization is allow wm users to automatically get our premium content with out having to be interrupted by preview limits and or track limits.
2. Directly Monetize Stream to Musician(If Signed up with Coil)
Secondly was to allow users to submit a song with payment pointer and or sign up with coil to allow for direct streaming of money while users are playing their music.
We can't wait to continue implementing and learning web monetization and the future of the web!!
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