Web monetization is a new JavaScript browser API that allows the creation of a payment stream from the user agent to the website.
That’s the definition taken from the web monetization website. My aim for this content is to help my non-tech savvy people understand this new revolution.
What this means is that while you are consuming your favorite content on the internet using your preferred browser, you are able to send micro-payments to the respective owner of the content, while the browser is able to detect and response to receiving micro-payments like disabling advertisements or unlocking premium content.
Current ways of monetizing content on the internet
Affiliate Marketing
Affiliate marketing is when a company compensates you for generating leads to their product or services. Promoters get a commission for each sale they generate.
Pay Per Click Advertising
This is an advertising model where advertisers pays each time a user clicks on one of their online ads.
Memberships
This is when exclusive content is gated and access is granted through the successful purchase of a membership.
Why is web monetization better than current models?
Why is web monetization better for publishers?
Low entry barrier
Web monetization offers you, the creator/publisher, to have a direct relationship with your audience without subscribing to centralized services. Since it is a JavaScript browser API, the only requirement to start earning micro-payments is by adding a meta tag that tells the browser to which wallet to stream payments to.
Instant Transactions
All micro-payment transactions happen in real-time while your audience is consuming your content and they go directly to your wallet.
Revenue Sharing
Let’s say I started this website with a friend of mine who helps me out write the articles and we have agreed to split the revenue generated 60/40. With web monetization it is possible to split the revenue according to the agreement and the correct amount will be transferred to each wallet in real-time.
Why web monetization is better for consumers of content
Cheap
As a consumer of content, web monetizations allows you to support all your favorite creators. I personally think of it as a membership to premium content from creators that use the web monetization model. Imagine you enjoy consuming content from multiple publishers that are monetized using Web Monetization, then with your coil monthly subscription you are able to support all of them while also getting the benefit of having access to their premium content.
Privacy
It is no secret that services on the internet are tracking our each and every movement and selling our data to advertisers. When using web monetization, you can support your favorite content creators while remaining anonymous.
Conclusion
I hope this article provides clarity on the current state of monetization. If you are a content creator and would like the help of professional to set up web monetization please click on the social media links on the footer to get in touch with me. Thank you for reading this article and please share it with your friends☺️.
