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Describe Web Monetization [Outreachy Contribution Task] #1084

Closed annatuma closed 4 years ago

annatuma commented 4 years ago

Note, this task is for Outreachy applicants, and will remain open until the contribution period for Outreachy concludes. Multiple people may complete this task.

Description

In your own words, please describe your understanding of web monetization, how it works, and what some of the opportunities and challenges are, to individual implementation and broader adoption. Post your submission as a comment on this ticket.

nocodes commented 4 years ago

Brief Description Web Monetization is a universal standard that allows a website to request small timely payments from their users and in return provide some premium services to such users. Its a new way of generating revenue without bugging website users with annoying advertisements. For a website like creative commons, an example of this premium service could include allowing such user to save and view previous images searched on CC images, another example could be giving discount on CC accessories to such user.

How it works For Web Monetization to work, the website needs a wallet to receive payments and the user needs a wallet to send payments. This two wallets need no direct relationship just like in a real world scenario where a sender's bank needs no direct relationship with a receiver's bank, All they need is a middleman. The user's wallet is called a web monetization provider, the website's wallet is called the web monetization receiver, while the middleman is called a web monetization agent in the real sense. Once a browser sees that a website contains meta tags for payments, the browser with the help of the middleman (web monetization agent)

  1. Determines where to make payments from the website's meta tags,
  2. Calculates payment rates,
  3. Generates unique id for payment
  4. Fetches Destination wallet
  5. Initiates Payment
  6. After the browser as initiated the payment, the user's wallet (web monetization provider) then sends the payments to the website's wallet (web monetization receiver)
  7. The user's wallet (web monetization provider) notifies the browser of successful payments in which the browser notifies the user in return

Opportunities of Web Monetization to individual implementation 1) Much code work is not required i.e few lines of code can allow a website start receiving small timely payments. 2) The users wallet (web monetization provider) and the website's wallet (web monetization receiver) need not be of the same service provider. i.e There is no need for a website or user to have multiple web monetization receiver/provider. 3) Website Users feel more secure with their privacy as it is impossible to track them via payments made with web monetization.

Challenges of Web Monetization to individual implementation 1) A lot of work needs to be done to pivot from existing methods of generating revenue to web monetization. 2) The website might need some information about the users which might not be readily available in the case of web monetization.

Opportunities of Web Monetization to broader adoption 1) It becomes a universal standard of accepting small payments on the web. 2) A lot of micropayment applications comes into existence since it has become easier and faster to accept micro payments. 3) Application of web monetization might go beyond the web. We would have web monetization implemented into activities that involves recurring micro payments.

Challenges of Web Monetization to broader adoption 1) Some websites might start using it to accept large payments which defeats the reason for web monetization. 2) Online Advertisements may become extinct which might not be favorable to some business models.

samraslam20 commented 4 years ago

What is website monetization? Website monetization is the process of making revenue from traffic coming to the website having website monetization enabled. At this moment the most popular way to make money with the help of web monetization is with PPC - pay per click and CPI/CPM - cost per impression. Different providers act as web-masters in placing advertisements or an extension on websites to benefit from the traffic the site gets. Opportunities.

Challenges

nehasangeetajha commented 4 years ago

Web Monetization: Web Monetisation, in very simple terms, refers to the process of monetization using a website i.e. monetizing using traffic on a website. While the process of monetization can be challenging and complex, the concept is rather simple and clear. Web monetization is a process of making revenue from the traffic coming to the website having website monetization enabled. It is the process of earning money from a particular website or blog by using it as an advertising platform for companies with content and offers relative to that site.

How It works:

Monetization is a function of two simple variables:

Methods and Examples of Monetisation:

Opportunities:

  1. Create a product line and sell it on your own eCommerce website
  2. Offer online services to clients
  3. Become a consultant or coach to startup businesses
  4. Develop an online course and help others improve their skills
  5. Share inspiring anecdotes through your very own podcast
  6. Play video games

Challenges of platforms:

  1. Beholden to the platform
  2. AI and Recommendation systems
  3. Clicks over quality

10 Ways to Monetize Your Website & Earn Revenue

->Google AdSense. ->Infolinks. ->Affiliate Offers. ->Create & Sell Your Own Digital Product. ->Direct Ad Space. ->Sponsored Posts & Reviews. ->Gate Premium Content. ->Generate & Sell Leads. ->Related Posts. ->Paid Private Forum.

Website Monetization Best Practices and Tips

  1. Let your website breathe : Don’t overwhelm subscribers with tons of ads on every page. Put yourself in your audience’s shoes and mind that the ads should be relevant to a website’s subject.
  2. Follow the law : Your website monetization should be legal. Irresponsible behavior towards marketing methods may harm the reputation of your website and brand.
  3. Develop a monetization mix : A website with a lot of traffic can monetize in different ways at once. A website owner should think out the best ways that fit the circumstances and try to implement them.
Sabakalsoom commented 4 years ago

Web Monetization:

Web Monetization basically alludes to making money from the web. It is a proposed standard making it simpler for creators, developers etc. to bring in cash on the web allowing the creation of a payment stream from the user agent to the website.

Following are the two significant variables to Web Monetization:

  1. Number of visitors on the site

  2. Income earned from every visitor on the site.

For expanding the number of guests, SEO and different strategies are utilized and for procuring income, there are third parties who might be interested in getting in communication with the visitors on your website.

How it works:

Traditional ways On a site having existing traffic, there are some traditional ways of monetization, for example, Advertising or Subscriptions. Selling advertisement space at your site implies that you need to discover organizations and give them space on your site where they will show their promotions. Advertisements depend on information about recently visited sites and search questions. Visitors may discover these promotions taking up your web space irritating and advertisements may likewise have viruses, causing your site to load slower even track the clients. These advertisements may likewise utilize important data transfer capacity and individuals additionally will in general use AdBlockers due to these issues ensuring their privacy. These methods for web monetization are out-of-band disturbing the user experience.

Web Monetization: An alternative

Web Monetization (WM) is a proposed API standard that allows websites to request a stream of very small payments (e.g. fractions of a cent) from a user. The API's framework provides new revenue models for websites and web-based services and is an alternative to subscription services and advertising, all while preserving the user's privacy. In exchange for payments from the user, websites can provide the user with a "premium" experience, such as allowing access to exclusive content, removing advertising, or even removing the need to log in to access content or services. Web Monetization is intended to enable very small payments. This distinction is important because very small payments can be performed with different levels of user consent, unlike larger payments, such as those used in traditional e-commerce. To use Web Monetization a website owner must have a financial account at a service provider capable of receiving payments (WM receiver). Such a service (a digital wallet, bank, or similar) must provide the website owner with a payment pointer that serves as the public address for the account. It only works on pages containing the meta tag.

  1. A web monetized browser tracks Web Monetization events and sees whether the user visiting your page is web monetized.
  2. If the browser finds a valid payment pointer in a meta tag & generates an ID & uses its internal Web Monetization agent to calculate the rate it should pay the current website.
  3. The browser resolves the payment pointer, gets a unique destination address for the current session and begins sending payments via the WM provider.
  4. After the first payment with a non-zero amount, dispatches the monetization start & continues to send payments at the calculated rate.
  5. Payment continues until the user closes/leaves the page or the browser decides to stop payment. Challenges for individual implementation: It hasn't been widely adopted so individual implementation will face challenges as there are many users who are not web monetized.

Opportunities for individual implementation: Once adopted widely, it will be allowing website owners and creators to make more money as it's totally linear instead of depending on the traffic for ads or greater conversion rates for subscription over the content size. Facing issues with payments, browsers are also open to experiments.

Challenges for broader adoption: 1) Introduction to market will be a major issue as subscription-based sites earn whether someone visits or not and ad-based sites earn whether someone has integrated with this payment system or not, so getting them on board will be difficult. 2) Websites may begin utilizing it to acknowledge macro payments which are in contrast to the web monetization. Also, traditional ways such as Online Advertisements may be wiped out which probably won't be ideal for some plans of action. 3) There might be a challenge of security as it’s an extension which basically modifies or accesses data on the page, malicious actors using other extension or JS can modify to divert payments to different accounts.

Opportunities for broader adoption: 1) Frictionless user experience: Allow users to pre-approve payments in aggregate or delegate the authorization of individual small payments to a component/service (a Web Monetization agent) that makes decisions about when and how much to pay websites without the need for user interaction. 2) User privacy: This system must preserve the user's privacy. It must not be possible for websites to track users on the basis of the payments they make, and it must not be possible for the user's Web Monetization provider to get details of a user's browsing history.

Existing implementations: Web Monetization receivers XRP Tipbot Stronghold GateHub

Web Monetization providers (senders) Coil

Browsers Chrome (desktop) + Coil Extension Firefox (desktop and Android) + Coil Extension Puma Browser (mobile)

Yuanhendri commented 4 years ago

What is Web Monetization. How it works. Basically, Web Monetization refers to make money from a website. Let’s say if you own a website and you can connect advertisers and other companies with his audience. (visitors/reader). And you can charge the companies for this privilege. How much money you are going to make all depend on how well you can take advantage of the opportunities available to you.

Opportunities If you want to get the most revenue out of your website visitors, there are so many opportunities to monetize a website to achieve your goal. There are few top general strategies for web monetization are below:

  1. Affiliate marketing: A lot of websites try to send referrals to a partner merchant. If the referral generates revenue for the merchant, the affiliate gets a percentage of the check.
  2. E-commerce: Online stores selling goods or services online to generate revenue from your traffic. 3.Advertising:Whenever you browse internet every day, you normally see the banner ads on the websites many times. This is another way website generate part of their revenues.

Beside above, there are also Paid Subscriptions , Lead Generation, donation, membership etc.

Challenge

  1. Traffic: Traffic is the biggest challenge for monetizing websites. Increasing your traffic, which refers to the number of visitors to your website is the key. It will eventually benefit your business/website.

  2. Content/Ad Quality: Low-quality content can be the problem sometimes. We’ve all heard that content is king and that you need to write high-quality unique content and get quality Ad as well. More content does not mean better content.

  3. Common Use of Ad Blockers: Tons of users that visit your webpage are using some kind of ad blocker. This challenge is nearly impossible to overcome on your end besides asking your visitors to turn off the blockers when viewing your site. Ad-blocking plug-ins need constant updates to battle the website / ad updates, otherwise they don't work as intended.

Individual implementation and broader adoption

Web Monetization will become more and more popular and opens a whole new world of opportunity.

The evolution of the internet is continuing to mature all while requiring new recipes for better user-friendly experiences. Owner contribute their skills and talents, putting considerable time and effort towards their content.

A common standard of Monetization for the web and the creation of new browser APIs will also improve the adoption rate of future web Monetization.

ritulsriva commented 4 years ago

Monetization of websites is nothing but working on websites in a way that you make money. You can monetize your website by advertisements or selling anything through it. But advertising based business models are past their prime. Ads take up processing power , violate your privacy and manipulate users. Users have started using ad blockers. In order to continue the web business , we need a neutral solution. Interledger aims to provide this neutral solution through web monetization. Web monetization is a browser API being developed by the Interledger community group which allows a page to request streaming Interledger payments from a user. Web monetization is a proposed browser API that uses ILP micropayments to monetise a site. It can be provided through a polyfill or an extension, but the goal is to eventually implement it directly into user's browser. So basically , web monetization is way of requesting timely payments from users and in return provide them some services which are not provided otherwise. Web monetization is intended for continuous payments rather than discrete payments. It is intended to provide a direct alternative to advertisements , rather than an alternative to existing checkout methods.

How it works- Web monetization is simple to adopt, all the website has to do is to add a tag. The user has to pick a provider like Coil and sign up with a credit card.Examples of web monetization wallets are XRP tipbot, Gatehub , Stronghold. These are ILP enabled wallets.

There are middlemen who carry out the payment process. The meta tags of websites help these middlemen decide where the payments are to be made, the wallet into which the payment is to made is found. Unique ids are generated for payments. After this the payment is initiated and the payment is made to the destination wallet and the browser of the user notifies the user that the payment has been made. Interledger makes it easier to send money , no matter what ledger you or the recipient are on and it also allows you to receive money from any ledger without setting up accounts on lots of different services.

Opportunities of Web Monetization to individual implementation-

  1. All you have to do is to include a tag. You can monetize your website in very few lines of code
  2. The ad block rates of websites are increasing, you can lower that for your website by using the alternative interledger based web monetization technology
  3. You can add payments without being tied to a singke currency or payment provider.
  4. Inspired by TCP/IP, Interledger is easy to implement and use.

Challenges of web monetization to individual implementation-

  1. You will need a functional fraud detection and handling infrastructure, both organizational and technical. As micropayments currently do not exist at a large scale the fraud issues related to them are probably going to be unique. Also, as we are dealing with transferring money, this sort of service is going to be a honeypot for all sorts of shady folks
  2. Cost of processing small payments is too high as a percentage of the value of the payment.

Opportunities of web monetization to broader adoption-

  1. People are opting out of ads by using ad-blockers. Web monetization alternative thus is the new sensation and is the future of web's business models.

  2. Between subscriptions and the economies of scale in the ad world, we’ve seen massive consolidation of the Web into fairly few platforms. A large percentage of traffic on the Web has been captured by a small number of sites: ads and subscriptions work better if you are a huge network. But a lot of people don’t like that, so having a third monetization option that scales linearly instead of exponentially is really valuable.

Challenges of web monetization to broader adoption-

  1. Some websites start taking large payments which will defeat the cause of the alternative web monetization technique. As mentioned earlier, it is intended to provide a direct alternative to advertisements and not a direct alternative to existing checkout methods. Small payments are made so that wide range of payment sizes can be handled. Therefore making large payments will pretty much nullify the efforts of bringing up this web monetization technique.

  2. If everyone starts adopting this technique, the old web monetization techniques will become obsolete and the ads will completely vanish in coming time which is also not good because optimal number of ads are good and are appreciated and required by users. So maintaining balance between different web monetization techniques is a challenge.

miracle-E commented 4 years ago

Web monetization

Website monetization is the process of making revenue from traffic coming to the website having website monetization enabled. The two most important metrics that matter to a web publisher looking to monetize their site is "Fill Rate", or the % of inventory where ads can be shown by a partner advertising network, and eCPM, which is the effective cost per thousand impression dollar amount that is paid out to the publisher for showing ads to their audience. What is fill rate? Fill rate is the percentage of ads served based on the total number of page impressions. For example, if you receive 1,000 page impressions where an ad-unit has been placed, and a total of 900 adverts were served per 1,000 impressions, your fill rate would be 90%. Ads severed / total number of add opportunities = fill rate High fill rate generally increases a website’s eCPM and earning potential. What is Ecpm? Effective cost per thousand impressions (technically, “effective cost per mille”). eCPM helps compare media with different pricing methods by converting everything to a common metric. As long as you have information for cost and impressions, you can calculate eCPM. total cost eCPM = —————– * 1,000 Impressions

In summary, web monetization is a way of making money from your website.

How does web monetization work? Web Monetization is a new way to pay creators in real-time through an API that uses Interledger Protocol micropayments to monetize a website or streaming channel. Users can enable web monetization for payment streaming through polyfill or an extension. Content creators are able to implement it by adding a line of code to their website or specifying a streaming channel for web monetization.

The Interledger vision is to be able to send, receive, and monetize anything in any currency.

Content creators and websites that are making revenue from web monetization can provide rewards or special offers for users that have Web Monetization enabled, therefore creating a self-sustaining economy. What is Interledger? The vision of the Internet of Value is to make sending value as easy as sending information. Interledger is an open source protocol used for payments across payment networks. It connects all types of ledgers: from digital wallets and national payment systems to blockchains and others. It makes it easy to transact with anyone, no matter the location or currency. Interledger allows you to receive money from any ledger, without setting up accounts on lots of different services. Interledger is not tied to any one company, blockchain, or currency.

How can you monetize your website? Pay per click advertising Cost per impression advertising Banner advertising Affiliate programs Data monetization Paid subscriptions Donations

Why use Web Monetization? · Easy to set up - all you need is a tag · Simple to use · Secure · No action required from users · Traffic equals payment so quality content is rewarded

Opportunities to individual adoption and broader adoption

  1. A great way to generate revenue and establish long-term partnership.
  2. Freedom to collaborate with brand you do not feel will jeopardize the trust bond you have with your readers.
  3. Brings steady and recurring revenues by continuously creating contents that delights your readers and living up to their expectation.
  4. Building close relationships with your readers and reaching new audience organically, through the power of recommendation.
  5. Having access to user’s comments and constantly adjusting your comments accordingly.
  6. Creating a “unique value mindset”, meaning reader will feel they are taking part in something meaningful and worthy of both their time and money.
  7. You can provide price diversification to increase your overall revenue.

Challenges to individual adoption and broader adoption

  1. You must maintain quality
  2. Platform restrictions. Every content monetization platform has its restrictions.
  3. Some customers don’t want to pay.
  4. Understanding audience behavior in order to reach new subscribers and retain existing ones.
  5. Deciding on the right type of paywall that won’t cause reader churn
priya-sakshi commented 4 years ago

Web Monetization Web Monetization is an API (Application Program Interface) that allows websites to request a stream of micropayments from the user with the help of Interledger Protocol. It provides an open, efficient and automatic way to transfer money from the web platform and works as an alternative revenue model for web and web services. It can be implemented through polyfill or an extension, but the goal is to directly provide it into the user's browser. It allows websites to earn revenue from users without:

How does web monetization work? Basic Flow:

  1. Users have a Web Monetization Sender which is just an implementation of a Payment Handler that can send money on their behalf.
  2. Websites have an account at a Web Monetization Receiver (a digital wallet) where they can receive payments.
  3. When the user visits the website, the browser parses a tag in the header of the site that contains the websites receiving address.
  4. The browser makes decisions about how much to pay each site and sends these payments via the user's Web Monetization sender.
  5. For each payment, the browser emits an event that the website can listen to.
  6. In return for payment, the website provides the user with an alternative "paid for" experience such as not showing advertising, delivering premium content, etc.

Opportunities of web monetization to individual implementation:

  1. The Web Monetization model decouples the user's sender (making payments on their behalf) from the website's receiver (a digital wallet capable of accepting payments for the website).
  2. By using the browser as an intermediary the privacy of the user is preserved.
  3. By providing an alternative revenue model to advertising, Web Monetization indirectly reduces the need for websites to do invasive tracking of their users.

Challenges of web monetization to individual implementation:

  1. The fee will force the user to continually determine if the content is worth the cost.
  2. Loss of unbeatable competitive advantage that a price of zero provides.
  3. A barrier to access online content by any means will deter some users, Barriers such as forcing the user to create an account or pay a fee that makes them less likely to reach the desired content.
  4. Need to be very specific to get a low competition keyword. For example, if we want to make a website about food blogging, we might need to narrow it down to "Clean Eating 101" or "Eat yourself skinny" to get the search volume under 5, 000 along with low competition.

Opportunities of web monetization to broader adoption:

  1. Provide websites a way to take advantage of the high volume of users by offering content for a low subscription price.
  2. It doesn't have strict policies or content guidelines. The problem with Ad networks is they stop content creators from being their true selves.
  3. It can be a good example of micropayment to meet the preference of the audience.
  4. By paying a fixed amount per month, Users can unblock more and more content on the web.
  5. The adoption of this model will eliminate paywalls and reduce the need for individual subscriptions for each service.

Challenges of web monetization to broader adoption:

  1. Compatibility issues with an existing application and transport protocol.
  2. Don't give users a choice about how much to spend, and which sites to support. For example, providers could offer to not pay sites on a blacklist, or boost payment to sites on a whitelist.
  3. The scalability of design is necessary as the transaction traffic will lead to a heavy load on the payment handler.
  4. The subscription charge is very small, but when aggregated across a family, the sum could be out of pocket expenses for a family on a tight budget.

@annatuma I have edited the assignment. I look forward to your review of it.

CHIKELUJANEUCHENNA commented 4 years ago

Website Monetization Website monetization is basically the process of earning money from a particular website or blog by using it as an advertising platform for companies with content and offers relative to that site. Let for example you own a website and you are succeeding in making money off that website, thus you already know a thing or more about monetization. The process of monetization can be challenging and complex but the concept is rather simple. In layman understanding Monetization refers to making money from a website. So therefore the concept of “monetizing your Web traffic” simply means “making money from your visitors.” How it works The concept of website monetization may be difficult to understand, since no hard currency is exchanged when someone visits your site. But odds are that there are a number of companies who are interested in reaching your website’s audience–the visitors to your site. Think of the website owner as a gatekeeper; he has the ability to connect advertisers and other companies with his audience (in various ways). For it to work the website needs a wallet to receive payments and the user needs a wallet to send payments. The user's wallet is called a web monetization provider, the website's wallet is called the web monetization receiver, while the middleman is called a web monetization agent. Many website owners also monetize their traffic bases directly, accepting payment from their visitors in exchange for various products or services. Examples of this (which you encounter everywhere you look on the Web) include paying for a product to be shipped to you (e.g., a t-shirt) or access to a “premium” article or tool. So therefore, the amount of money you make from your website depends on the volume of traffic and the average revenue derived from each visitor or page view. You can monetize your website through: Pay per click, advertising, Cost per impression advertising, Banner advertising, Affiliate programs, Data monetization, Paid subscriptions and Donations.

Opportunities of web monetization to individual implementation

  1. Privacy intact
  2. Easy key word search
  3. Full online presence

Challenges of web monetization to individual implementation

  1. A lot of work is needed in generating revenue for a website
  2. Quality content is needed that will draw the attention of audience
  3. Understanding behavioral change of the audience
  4. To many ads

Opportunities of web monetization to broader adoption

  1. Increased online activities
  2. Increased partnership and referrals

Challenges of Web Monetization to broader adoption

  1. Fraud increment
  2. Online Advertisements may become difficult.
  3. Inability to determine the targeted audience
alexadejumo commented 4 years ago

Description Of Web Monetization

Web Monetization is no longer a myth, it's has come to stay! It is an alternative revenue model for the web and simply means the perspective of applying open source and open standards to payments. Web Monetization is a proposed browser API (Application Programming Interface) that uses ILP (Interledger Protocol) micropayments to earn money from a particular website or blog without using it as an advertising platform for companies with content and offers relative to the site. This can be achieved through a polyfill or an extension, but the goal is to eventually install it directly into the user’s browser. This allows websites to earn revenue from users without requiring users to sign-up to a subscription, needing to deliver content/services through 3rd-party platforms or through Ads. It uses an API that allows Websites to request a stream of very small payments from the user. It's basically applying the concept of internet protocol to payments.

Different providers act as webmasters in placing advertisements or an extension on websites to benefit from the traffic the site gets. Before the introduction of web monetization tools like coil, the way website/blog owners make money is by using ads networks (e.g. Google AdSense, AdThrive, MediaVine), affiliate marketing, selling ad space, ask for donations and contributions, get paid for every visitor with Repixel(tagging visitors from a site with targeted ads), paywalls for premium content and crowdfunding.

The major reason why web monetization is going to be a driving force is that the ability to transfer money has been a long-standing omission from the web platform. As a result, the web suffers from a flood of advertising and corrupt business models. Web Monetization provides an open, native, efficient, and automatic way to compensate creators, pay for API calls, and support crucial web infrastructure. Open-source payment options do exist in the form of blockchain technology, but they have become silos in their own right because of a lack of the ability of computer software to exchange and make use of information (interoperability) between them.

Many people would agree that ads-based business models are past their prime. Ads take up processing power, violate your privacy, and manipulate users. Users are increasingly opting out by using ad-blockers. Web Monetization is a great initiative to move the workings of the internet from an ad-focused business model to a new privacy-focused internet.

How Does Web Monetization Works?

Every day, there is a new headline about privacy abuses related to ads, popular sites struggling to make money, ads placed next to content without the creator’s consent, adblocker arms race, unethical sponsored content, subscription fatigue, large platforms abusing their market power, and demonetization to appease advertisers. All of these issues can be traced back to one simple problem: browsers don’t pay. This forces sites to raise funds through workarounds like ads, data trafficking, sponsored content, and site-by-site subscriptions.

Users sign up with a Web Monetization sender which is capable of sending very small payments to websites. This would likely be a digital wallet or a service that specializes in sending micropayments for content. Websites sign up with a Web Monetization receiver, a specialised digital wallet capable of processing an incoming stream of very small payments. When the user visits the website, the browser parses a tag in the header of the site that contains the websites receiving address. The browser determines how much to pay the website and then contacts the websites WM receiver to get a unique receiving address for payments for the current session (page load/refresh). The browser begins sending small payments via the user’s WM sender (using the Payment Handler API). For each payment, the browser emits an event that the website can listen for. In return for payment, the website provides the user with an alternative “paid for” experience such as not showing advertising, delivering premium content etc.

The Web Monetization model decouples the user’s sender (making payments on their behalf) from the website’s receiver (a digital wallet capable of accepting payments for the website). By using the browser as an intermediary the privacy of the user is preserved from both the website and the WM sender. By providing an alternative revenue model to advertising, WM indirectly reduces the need for websites to do invasive tracking of their users.

WM-How it works _Source: https://gigazine.net/gsc_news/en/20190917-mozilla-grant-for-web_

Web Monetization is a new way to pay creators in real-time through an API that uses Interledger Protocol micropayments to monetize a website or streaming channel. Users can enable web monetization for payment streaming through polyfill or an extension. Content creators are able to implement it by adding a line of code to their website or specifying a streaming channel for web monetization. The Interledger vision is to be able to send, receive, and monetize anything in any currency. Content creators and websites that are making revenue from web monetization can provide rewards or special offers for users that have Web Monetization enabled, therefore creating a self-sustaining economy.

Opportunities To Individual Adoption And Broader Adoption

Challenges To Individual Adoption And Broader Adoption

I'm Alex Adejumo and an Outreachy Internship Applicant. This is one of my contributions to the Web Monetization Project.

evans407 commented 4 years ago

Web Monetization Description With web monetization, content creators don’t need advertising to be rewarded. websites can now be monetized using the Interledger Protocol micropayments framework. This is however, made possible through a set of Application Programming Interface (API) computer commands that provides continuous automatic micropayments from browsers. Making it easier to browse a website without being prompted to make payments.

How it works I would say, with web monetization, websites owners can monetize their contents/website without displaying Ads on their website. This can be implemented by adding a couple of scripts on the website, which makes it extremely simple for webmasters to use in their site.

To be web monetized for example, web monetization solution like Coil is to be integrated on the website either as an extension or a plugin. What this means is that, when a Coil subscriber visits your site, money is automatically streamed into your account, Its uses payment pointers like GateHub, XRP tipbot and Stronghold.

Opportunities to Individual Adoption and Broader Adoption
Easy Way to Content Monetization Web monetization is an idea that we don’t need advertising for contents to be rewarded. Content creators can monetize their content easily and consumers pay with just a browser plug-in.

Privacy Web monetization protects the data and information of users. Matter of fact, it is not possible for a user web monetization provider to get the details of a user browsing history or preferences.

Subscription Alternative The API’s framework provides new revenue models for websites and web-based services and is an alternative to subscription services and advertising, all while preserving the user’s privacy. finally, its gives one the peace of mind to navigate a website without encountering unsolicited advertisements.

Challenges to Individual Adoption and Broader Adoption Low Adoption Web monetization was properly put out in 2019, many people are yet to understand how it works let alone to begin its usage. This can be said even more because people see “web monetization” as online advertisements in terms of google ads, ppc ads, affiliate programs etc.

Unwillingness to Pay Using web solution provider services like Coil, one has to pay a $5 fee. This becomes a challenge especially when individuals don’t know if there would be a return in their investment or not.

Ujsilvia commented 4 years ago

Web monetization is the process of converting existing traffic being sent to a particular website into revenue or simply put the act of monetizing /using one's traffic pull in a website for profit.

Opportunities available for web monetization include for: Website Owners SEO Masters bloggers Ad Networks, Brokers Domainers Social Media Marketers Plugins / Extensions

How it works: It involves paying creators in real-time through an API that uses Interledger Protocol micropayments to monetize a website or streaming channel. ... Content creators are able to implement it by adding a line of code to their website or specifying a streaming channel for web monetization.

There are a lot of tools for monetizing webs viz; 1) Google Adsense It involves displaying contextual advertisements (banner, text, gif, flash ads) along with the blog content. They display their advertiser ads on your blog based on your content and share the revenue generated over the period of time.

2) Affiliate Marketing: This is a performance-based business model where an individual makes money as a commission for promoting other merchant products or services.

When the affiliate made a successful sale, he/she does earn nice revenue as a commission. If you have a blog with targeted traffic, you can utilize this website monetization technique. Some of affiliate programs are Amazon Associates, ShareASale, Clickbank etc.

3) Selling AD Space: It involves creating a page in your blog and naming it as “Advertise with us”.placing a contact form for interested advertisers to contact one directly if they are willing to advertise with one.

4) Selling Digital Products: selling digital online products such as eBook, Tutorial CD/DVDs, courses, PDFs etc.

Create a blog focusing on the product, write descriptive articles about the advantages and uses of the products.

5) Display Advertisements: It works similar to Google Adsense program but operates in a bit different way. In the contextual method, the banner will be different on each page load, but here every time the same banner will be displayed.

6) Starting a consulting service: It involves marketing ones knowledge/ professional experience across the globe with your website.Eg Neil Patel (Digital Marketing Service), with his great knowledge in SEO and digital marketing,owns a website neilpatel.com, where he just earn by selling his own consulting packages and thus making thousands of dollars.

7) Selling Courses online Here,one creates own courses on any subject of of interest/ knowledge and create a blog to sell your course.

8) Accepting Guest Post: It involves deciding the various categories to allow other authors to write for you. Simply create a page called “Contribute to us”, “write for us” or “submit guest post” to invite authors and writers.Once you have done with building a steady flow of potential traffic to your blog, you can start working on this idea.Eg of brands that practice this include ListVerse, About.com, and Huffington .. Other ways to monetize a blog or a website include implementing PPC (Pay per click), CPM/CPI (Cost per impression) advertising,paid membership programs, Affiliate program ,Ad networks,data monetization ,online shops,lead generation ,banner advertising.

Challenges of web monetization: It includes : 1. Lack of enthusiasm or affinity for an app due to ads: Due to the common challenge with mobile advertisements they distract and annoy user’s engagement, ultimately leading to less use or app deletion. 2.Delayed payment. 3.integrating multiple SDKs is time consuming and frustrating: Before the app can begin to collect revenue from ads, a SDK (software development kit) needs to be integrated allowing for the mobile ad network to serve the ads: Adding and removing SDKs of multiple ad networks, along with the app store updates that come along with these actions, is time intensive and tedious. 4.Mobile advertising monopolies With no competitors in the smartphone-sized picture, there is little incentive for the network to provide maximum competitive monetization rates.

5.high quality advertising How to make ads attractive to consumers who are spending a sizable part of the day using their mobile devices for non-voice purposes. 6. lack of relevant mobile ads Serving content to the appropriate viewing audience most atimes is a herculean task,surveys such as what do they like?how will they take it?is it okay for that age group? What group /caste/class of people need this? need to be put inplace before making decisions.

M-Alichia commented 4 years ago

Brief description of web monetization Web monetization is a new propose way for users to automatically pay content creators (blogger, Youtuber, etc.) small amount of money in real-time, without interacting with subscription services and advertisements while preserving their privacy. This is possible with the help of a browser API that uses an open suite of protocol for connecting ledgers of all types called interledger.

How it works

In web monetization Payment is only possible when the user accessing the creator site also has wed monetization enable. Below is a brief description of the monetization process for both parties

The first thing to be done by the creator is to set up a web monetization wallet with an interledger protocol enable wallet provider like GATEHUB, XRP Tipbot…etc. at the end of registration, a pointer address is received stating with a $ sign. From the pointer address, a Meta tag is generated with name = “monetization” and content = “pointer address” which is added to the website header. In the case of the user, he also set up a web monetization wallet account then registers with a web monetization provider like coil who is currently the most popular provider. Then copy the pointer address from the wallet provider and paste it under the required field on the coil account, Then enables the coil extension on his browser, and he is ready for payment.

Coil define when and how to pay the website and only makes donations in all web monetize website the user visit only if he has an active coil subscription of $5.

Opportunities to individual implementation and broader adoption

Challenges to individual implementation and broader adoption

Emuohwo commented 4 years ago

Web Monetization is a JavaScript browser API to generate micropayment for content creators from users through web monetized websites. Users preapprove through a web monetization provider to stream payment to creators for premium services that they get. This way, user won't need to go the the rigorous process of signing up or subscribing for multiple platform to view content from different creators. They only need to have a subscription with a web monetization provider who make these micropayment to creators their JavaScript API call.

How it works For a content creator to start earning money. These steps must be take.

  1. set up a web monetization receiver or wallet. This wallet must support Interledger protocol. These wallet include GateHub, Stronghold, XRP Tipbot.
  2. Pointer your wallet payment to web monetization provider.
  3. create  and add wallet payment pointer to a meta tag of your website. Step 3 may not be necessary if you are not a blogger or website owner.

How it work For Users Users/visitors create a membership account with web monetization provider/sender. Users are to use recommended browser like Puma Browser, Chrome browser and Firefox each having the coil extention installed.

Benefits of Web Monetization It gives users to access contents of different creators across the internet without the need to sign up accounts for each creator.It gives users opportunity to enjoy premium services.Unlike affiliate marketing where creators have to wait for purchase to made to money, creators start earning right way when a web monetized user view their contents.It removes ads from users browser that are web monetized enabled, thereby providing better user experience.

Challenges of Web monetization  Contents creators receive flat rate stream of micropayment. Unlike the traditional way of Monetization where for example subscription rate differs for different creators.Web monetization is a new concept that is not known to many creators.Very few users are ready and willing to use this technology or follow through the requirements to benefit from it like using the coil extension or puma browser.As a growing technology, not all browser have the web monetization extension integrated where visitors are already comfortable with a particular browser other than the recommended browsers.

Recommendations for Web Monetization More campaigns need to be done to gain users confidence on the credibility of the concept and how is a better means of rewarding content creators.There is an urgent need the JavaScript API to be fully implemented on all browsers to support visitors preference of browser other than the Chrome and Firefox coil extension and Puma browser that currently support web monetization.

Janetsomehow commented 4 years ago

Web Monetization

Web Monetization is a new way to pay creators in real-time through an API that uses Interledger Protocol micro-payments to monetize a website or streaming channel. Users can enable web monetization for payment streaming through polyfill or an extension. Content creators are able to implement it by adding a line of code to their website or specifying a streaming channel for web monetization.The Interledger vision is to be able to send, receive, and monetize anything in any currency. Content creators and websites that are making revenue from web monetization can provide rewards or special offers for users that have Web Monetization enabled, therefore creating a self-sustaining economy. The most known service that pays content creators with the help of Web Monetization at the moment is Coil.

How it works

Users sign up with a Web Monetization sender which is capable of sending very small payments to websites. This would likely be a digital wallet or a service that specializes in sending micropayments for content. Websites sign up with a Web Monetization receiver, a specialised digital wallet capable of processing an incoming stream of very small payments. When the user visits the website, her browser parses a tag in the header of the site that contains the websites receiving address. The browser determines how much to pay the website and then contacts the websites WM receiver to get a unique receiving address for payments for the current session (page load/refresh). The browser begins sending small payments via the user’s WM sender (using the Payment Handler API). For each payment the browser emits an event that the website can listen for. In return for payment the website provides the user with an alternative “paid for” experience such as not showing advertising, delivering premium content etc. If you don’t have a site, then you can also post content on a Web Monetization-enabled platform likes coil or cinnamon to post your content and get paid. The following are the available Web Monetization Wallet:

  1. XRP Tipbot
  2. GateHub
  3. Stronghold

Opportunities and challenges to Individual Implementation

Opportunities and challenges to broader adoption

annatuma commented 4 years ago

Thank you everyone for your contributions. I have used a thumbs up icon on the answers that are on the right track to answering the question, and explaining this new technology.

It is very important to understand the difference between Web Monetization specifically, and website monetization generally. I invite those without a thumbs up on their answer to make edits and let me know when they have done so.

I'm looking forward to reading everyone's project proposals.

CynthiaPeter commented 4 years ago

What is Web Monetization: Web monetization is a simple process of paying publishers, content creators, bloggers, and YouTubers for their content on websites or blogs in real-time through a gateway( an API that uses Interledger Protocol). This involves a direct means of allowing users or subscribers to make small streams of payments to content creators when they subscribe to a web monetization provider such as Coil. Web monetization provides new means of raising revenue for websites and streaming sites which will serve as an alternative to the native advertisements and premium subscription models. Users make these payments and in exchange, websites provide the user with a “premium” experience, which could vary from:

Currently, these are the key players and existing implementations of web monetization:

How Web Monetization works: Firstly, it is important to note that it is possible to monetize just a few pages of a website. This is possible and can be done by adding the meta tags to specific pages instead of the whole website. To better understand the process involved in web monetization, it is important to bear some factors in mind. These include and is not restricted to the fact that:

After the above requirements have been checked, The program follows a simple algorithm:

The image below shows a process flow of how web monetization works.

Web Monetization

It is important to note that the shared use of the Interledger network allows payments to be sent from the providers to the receivers without some form of direct communication. This assures the visitor that no “invading of privacy” rules are broken.

Some of the opportunities in individual implementation:

Some of the challenges to individual implementation:

Some opportunities in a broader adoption:

Some challenges in broader adoptions:

In summary, I believe web monetization will do more good if monitoring boards and infrastructures are set to regularize activities done on the web.

kaymomin commented 4 years ago

Web Monetization:

Web Monetization is an all-inclusive standard that permits a site to demand opportune revenue by converting existing traffic being sent to a particular website into a micropayments installment stream. It's a method of generating income for publishers, content creators and developers without bothering site visitors with irritating notices. For a website like Creative Commons, a case of this top-notch service could incorporate allowing such user agents to save and view previous images searched on CC pictures, another model could be giving a rebate on CC accomplices to such users.

Following are the two significant metrics to Web Monetization:

  1. Quantitative traffic a site generates (i.e, how many visitors come to the site)
  2. Calculated revenue being earned from each visitor to the site.

Long story short, think of the website owner as a gatekeeper; he has the ability to connect advertisers and other companies with his audience (in various ways). Website owners will, of course, charge companies for this privilege. That’s web monetization at its most basic.

How it Works

The ability to transfer money has been a long-standing omission from the web platform. As a result, the web suffers from a flood of advertising and corrupt business models. Web Monetization provides an open, native, efficient, and automatic way to compensate creators, pay for API calls, and support crucial web infrastructure.

And, here's how it works:

Implementing Web Monetization is quite easy, in fact, this consists of adding only a line to your HTML files. This new line is called Web Monetization Meta Tag. Now, in order to receive payments, you need to set up a Web Monetization Wallet, you can use one of these wallets: XRP Tipbot, GateHub, and Stronghold. For Web Monetization to work, the website needs a wallet to receive payments and the user needs a wallet to send payments. These two wallets need no direct relationship. All they need is a middleman. The user's wallet is called a web monetization provider and the website's wallet is called the web monetization receiver, while the middleman is called a web monetization agent in the real sense.

Once a browser sees that a website contains meta tags for payments, the browser with the help of the middleman does the following:

  1. Determines where to send payments.

  2. Calculates an appropriate rate of payments to make to the site.

  3. Generates a unique session ID for this payment session.

  4. Fetches a unique destination address and shared secret for the session from the site's WM receiver.

  5. With the site's page still in focus, the browser begins initiating payments to the website at the calculated rate from the user's WM provider.

  6. The WM provider sends the payment to the WM receiver.

  7. The WM provider notifies the browser of successful payments.

  8. The browser, in turn, dispatches an event that informs the page of the payment.

Classic Monetization Methods

These methods have been around for some time and are tested and true. For someone new to monetization, these options are great for beginners or those with limited knowledge.

  1. Adsense: Google AdSense is the classic choice of online publishers, and it was created with a snippet of JavaScript, that when placed into webpages by webmasters, the page would begin displaying relevant advertisements from Google’s inventory of advertisers, based on the keywords that are scanned by the JavaScript within the page. Earning money from AdSense is easy because you earn money from every click, therefore, each person who clicks on your ad helps you earn part of the percentage of revenue that was created from the action. You can successfully use AdSense on a commercial or a personal blog or website with decent monetization results.

  2. Contextual Advertising: This form of online advertising is aimed at websites and other media, like content, which is displayed within a mobile browser. This type of ad system will scan the website you’re browsing for keywords and return advertisements to the website based on those keywords. These are also commonly referred to as “In-Text” advertisements or “In-Context” ads. These types of ads also include:

Emerging Method of Monetization: In-Image Advertising

This type of advertising is extremely useful for monetizing blogs, without the need to sacrifice important design elements of your website, allowing the true creativity of your web designer to show through without being covered up or surrounded by distracting ads or banners. Content often plays a huge role in the popularity of your website, but truly, images are what will capture your reader’s attention once they’re there. A user’s eyes can’t help but go straight for an image; your job is to make sure that the image is telling them something that is relevant and not irritating to the customer. This is one of the in-image advertisement's finest benefits. The impulse to click on an ad will feel natural to the visitor because it won’t be interrupting the flow of the user's browsing.

For publishers who are considering re-working their websites, in-image advertising is a great way to conceal cumbersome ads while monetizing your content successfully. If you’re interested in generating money with your words, do so in style!

Opportunities of Web Monetization to individual implementation

Once adopted widely, it will allow website owners and creators to make more money as it's totally linear instead of depending on the traffic for ads or greater conversion rates for subscription over the content size. Facing issues with payments, browsers are also open to experiments.

Following are the advantages:

  1. Much code work is not required.

  2. Web Monetization Provider and Web Monetization Receiver need not be of the same service provider.

  3. Website users feel more secure with their privacy as it is impossible to track them via payments made with web monetization.

Challenges of Web Monetization to individual implementation

It hasn't been widely adopted so individual implementation will face challenges as there are many users who are not web monetized. A lot of work needs to be done to pivot from existing methods of generating revenue to web monetization. The website might need some information about the users which might not be readily available in the case of web monetization.

Opportunities of Web Monetization to broader adoption

  1. It becomes a universal standard of accepting small payments on the web.

  2. A lot of micropayment applications come into existence since it has become easier and faster to accept micropayments.

  3. The application of web monetization might go beyond the web. We would have web monetization implemented into activities that involve recurring micropayments.

  4. Allow users to pre-approve payments in aggregate or delegate the authorization of individual small payments to a component/service (a Web Monetization agent) that makes decisions about when and how much to pay websites without the need for user interaction.

  5. User privacy as it must not be possible for the user's Web Monetization provider to get details of a user's browsing history.

Challenges for broader adoption:

  1. Some websites might start using it to accept large payments which defeat the reason for web monetization.

  2. Online Advertisements may become extinct which might not be favorable to some business models.

  3. Introduction to market will be a major issue as subscription-based sites earn whether someone visits or not and ad-based sites earn whether someone has integrated with this payment system or not, so getting them on board will be difficult.

  4. Websites may begin utilizing it to acknowledge macro payments which are in contrast to the web monetization. Also, traditional ways such as Online Advertisements may be wiped out which probably won't be ideal for some plans of action.

  5. There might be a challenge of security as it’s an extension which basically modifies or accesses data on the page, malicious actors using other extension or JS can modify to divert payments to different accounts.

Existing Implementations

Some web products will have monetization mechanisms baked into their model from day one. Others will need to achieve scale before they have a solid platform that can be monetized later.

Here's the list of the existing implementations:

Browsers Chrome (desktop) + Coil Extension Firefox (desktop and Android) + Coil Extension Puma Browser (mobile)

Web Monetization Receivers XRP Tipbot Stronghold GateHub

Web Monetization Providers Coil

Ujsilvia commented 4 years ago

Thank you everyone for your contributions. I have used a thumbs up icon on the answers that are on the right track to answering the question, and explaining this new technology.

It is very important to understand the difference between Web Monetization specifically, and website monetization generally. I invite those without a thumbs up on their answer to make edits and let me know when they have done so.

I'm looking forward to reading everyone's project proposals.

Hi, i have made some corrections to my work and hope its good. Thank you...

ibeth-cyn commented 4 years ago

Broadly speaking, web monetization is the process of converting website visits or audience actions on a page into revenue. For a good while in the development of the web, there were no industry-wide accepted and reviewed standards for web monetization. Web monetization happened in silos, private tech companies, for instance, Google, Facebook, Twitter, YouTube, monetized their sites through paid Ads on these platforms.

The W3C proposed an open, neutral standard API for monetization for the web. The proposed API is built on the Interledger(IRL) protocol which is described on its official site as “an open protocol suite for sending payments across different ledgers.” It is independent of any company, blockchain or currency. There is the Payment Request API and the Payment Handler API.

Features of the web monetization standard

How does the web monetization API currently work?

Challenges and Opportunities of Web monetization

lily-dev commented 4 years ago

What is Web Monetization Web Monetization has been implemented in various forms. Some content creators have used Google AdSense, affiliate marketing, data monetization, paid subscriptions and run advertisements to be able to generate more income from their websites.

A different way of paying content creators is by the use of an API to make direct payments to the websites from users as they engage with the content. The content sites are paid according to how long the user engages with the content on the site. The main purpose of using the API is to make efficient payments across networks, using simple ways of moving money between different ledgers (money wallets).

Brief overview of how it works Web Monetization uses Interledger Protocol (ILP) to split payments into smaller packets and routing the packets to the intended recipients. It sends small amounts of money without latency and transfer fees. The ILP enables transactions across different ledgers e.g. XRP Tip Bot, coil and Flattr.

The ILP has no ledgers of its own and it works as the interoperability between ledgers that can make micropayments. The Web Monetization ecosystem doesn’t have to rely on a single payment provider. It’s an open standard and Web Monetization-enabled websites can receive funds from Coil, Flattr or any other payment provider. Different providers have different ideas on transparency, how much to charge and how to divide the funds among websites.

Implementation Users sign up with a Web Monetization sender e.g. coil, which sends payments to websites. The websites sign up with a Web Monetization receiver that processes incoming streams of payments. The website owner also adds a tag on their website code that contains the website's address. The browser then decides on the amount to pay the website depending on how long the user has interacted with the content and starts paying the website in real-time or monthly.

Opportunities for individual implementation

  1. Pay is without bias regardless of the geographic location as the payment system is in one currency, USD. Some advertisers tag specific geographic areas and avoid sending ad dollars reducing ad income for some websites. This is not the case for web monetization.
  2. It will be used as an alternative to advertisements for income generation as some users don’t click on ads.
  3. Creators can offer premium services to supporters by giving out exclusives, early content, and rewards.
  4. Anonymity is given to supporters as their details will not be shared with other vendors. Data privacy is ensured.
  5. No transaction fees and latency during transactions.

Challenges for individual implementation

  1. There may be some delays during implementation. It may take some time for the code to run and detect if the user has subscribed to the payment and decide if they will be shown ads.
  2. Some users may not want to support some of the websites they visit due to their content thus robbing them of the choice to decide as no action is required from users to manually make payments.
  3. Web Monetization providers e.g. Flattr and coil have an option to turn off the service per creator if a user decides to micromanage who to be paid. Some creators may miss out on a chance to get paid for their good content due to bias on the users’ part.
  4. Spam domains and unwanted websites require a lot of micromanagement to prevent the ledgers from making payments.

Opportunities for broader adoption

  1. High-quality content will be paid for if it is adopted to a web standard in the future.
  2. Web Monetization will reduce data monetization (companies selling user data to third parties) as user privacy is a key component in their structure.

Challenges for broader adoption

  1. Advertisers won’t be able to reach the target market whose users have enabled web monetization as the websites ideally will have disabled ads for them.
  2. Getting users to subscribe to the service may be challenging as not everyone is willing to pay for content.
CHIKELUJANEUCHENNA commented 4 years ago

Thank you everyone for your contributions. I have used a thumbs up icon on the answers that are on the right track to answering the question, and explaining this new technology.

It is very important to understand the difference between Web Monetization specifically, and website monetization generally. I invite those without a thumbs up on their answer to make edits and let me know when they have done so.

I'm looking forward to reading everyone's project proposals.

Hi, kindly find bellow the corrections i made on my work, hope it's good. Website monetization is basically the process of earning money from a particular website or blog by using it as an advertising platform for companies with content and offers relative to that site. Let for example you own a website and you are succeeding in making money off that website, thus you already know a thing or more about monetization. The process of monetization can be challenging and complex but the concept is rather simple. In layman understanding Monetization refers to making money from a website. So therefore the concept of “monetizing your Web traffic” simply means “making money from your visitors.”

How it works The concept of website monetization is simple to adopt, all the website has to do is to add a tag. For website monetization to work, a user must have an account with a Web Monetization provider also known as Web Monetization Sender (MW sender), a Web Monetization agent installed with necessary authorization to initiate payments and Web Monetization receiver (MW receiver). The Interledger network allows payments and makes it easier to be sent from the WM provider to the WM receiver. The Meta tags of websites help the MW agent to decide where the payments are to be made, the wallet into which the payment is to be made. The browser generates a unique session ID for this payment and fetches a unique destination address and shared secret for the session from the site's WM receiver. With the site's page still in focus, the browser begins initiating payments to the website at the calculated rate from the user's WM provider. The WM provider sends the payment to the WM receiver and notifies the browser of successful payments. The browser, in turn, dispatches an event that informs the page of the successful payment

Opportunities of web monetization to individual implementation and broader adoption:

  1. Privacy of user is protected
  2. Easy way to content monetization
  3. Less coding work is needed
  4. Frictionless user experience
  5. Easy to set up
  6. Interledger is easy to use and implement

Challenges of web monetization to individual implementation and broader adoption

  1. User absolutely need funds in other to pay sites
  2. A lot of work is needed from changing means of generating revenue from the traditional way of online advertisement to web monetization techniques therefore aborting online advertisement.
  3. Overtime small amount of money is generated so a lot of time is taken to make a considerable amount of revenue.
  4. User finding it difficult in navigating through web monetization and understanding the process because they are more familiar with the traditional method of monetization.
simmranvermaa commented 4 years ago

Introduction The estimated amount of digital data creation in 2020 is 50 Zettabytes, 5*10^22 bytes. Millions of people are involved in creating, publishing and publicizing this content, (blogs, educational websites, e-commerce websites, video streaming, etc.) and no doubt it has become an essential and irreplaceable part of our information consumption cycle. Any website that is hosted to the public via the World Wide Web today incurs a server cost for hosting and of course the intellectual prowess of maintaining it. Currently, the ways of generating revenues to build an online eco-system and sustain it are in the form of advertisements, subscriptions (paid or email-based), patrons and user information trade (profiling). In 2019 an alternative was introduced to bridge the gaps in this system and come up with a novel, reliable and fair way of web browsing for users and service providing for website owners. Web Monetization Web Monetization is proposed to be a universal standard that allows a website to request frequent micro-payments from its users while they use the website and in return provide some exclusive benefit to such users. It’s a new way of generating revenue and eliminating any third-party involvement in the ecosystem and getting rid of intrusive advertisements. How it works? wm

Source: (https://www.w3.org/2019/04/prapi-elements.png) Basically, when a user starts browsing the web after installing a browser extension for Web Monetization and goes to the website that, supports web monetization, i.e. accepts micro-payments, the browser is required to initiate a payment from the user’s wallet to the website’s wallet at short intervals of time in small currencies. Web Monetization can be implemented with the help of browser plug-ins, wallets, and simple JavaScript code. The user's wallet is called a web monetization provider, the website's wallet is called the web monetization receiver, while the middleman (API, browser extension, plugin) is called a web monetization agent. The user’s wallet information will have to be recorded when the extension is installed and the website’s wallet information is available in the meta tag of the website. The browser plays a key role in implementing Web Monetization. Coil is a popular web monetization provider and few examples of web monetization wallets are Gatehub, XRP Tipbot, Stronghold.

Opportunities of Web Monetization to individual implementation

  1. It is technically feasible to implement for web developers and easy to adopt for users.
  2. It provides a sense of security, as the websites will, in good faith, not sell their user data to earn money, if they have a legitimate source of income.
  3. The simplest benefit for users could be getting rid of advertisements and getting access to exclusive content based on Web Monetization.
  4. A single wallet for a user works for all web monetized websites and a single wallet for a website works for all the user traffic.

Challenges of Web Monetization to individual implementation

  1. There can be a lack of trust on the part of users, they might not want to put in initial investment and until a good number of users actually shift to web monetization, the benefits would be limited as we would be stuck between multiple infrastructures that will hamper our browsing experience.
  2. The revenue generated for smaller websites might not be enough, and they will still need donations and patrons for support. Web monetization should be introduced at the right stage in any web service.

Opportunities of Web Monetization to broader adoption

  1. People are only charged for the time they browse a website, and the payments are small in size, so it can be standardized for convenience.
  2. The third-party in this scenario is technology instead of Ad agencies that might be manipulative. A simple API handles how much money a user spends, and a website receives. Challenges of Web Monetization to broader adoption
  3. Due to the simplicity in the technical implementation of web monetization, and the fact that the browser can edit information, malicious software can be used to commit frauds and deviate payments to the wrong accounts and increase the amounts.
  4. Google Ads, content.ad, PopAds etc. are pretty dominant in the market, and would not favour a shift to Web monetization as it disrupts their business.
Praise-dev commented 4 years ago

@annatuma Can I work on this for the contribution stage?

CynthiaPeter commented 4 years ago

@Praise-dev I think for the contribution stage, this issue is open to all. So go ahead and contribute. Goodluck man.

Inshu1 commented 4 years ago

Web monetization

Introduction

As the name suggests Web monetization is a form of monetization, refers to the act by which a website generates measurable economic benefits from its users by providing them prime benefits. It’s a good way of making money from a website. In exchange for payments from the user, websites can provide the user with a "premium" experience, such as allowing access to exclusive content, removing advertising, or even removing the need to log in to access content or services.

How it works

For this exchange of money in return for benefits, we need a sender who’ll send the money ( Web Monetization provider ), a recipient who’ll receive the money ( Web Monetization receiver ). Users must have an account or subscription with a Web Monetization provider. Users must have a Web Monetization agent installed in their browser with the necessary authorization to initiate payments from the Web Monetization provider on the user's behalf. Websites must sign up with, or run their own, Web Monetization receiver.

The sites that support Web Monetization include a tag containing a payment pointer. The user’s agent - user’s browser searches for meta tag and then uses its internal Web Monetization agent to calculate an appropriate rate of payments to make to the site. Then it generates a unique session ID for this payment session and fetches a unique destination address. Now the browser begins initiating payments to the website at the calculated rate from the user's Web Monetization provider. The Web Monetization provider sends the payment to the Web Monetization receiver. The Web Monetization provider notifies the browser of successful payments.

Opportunities for Individual implementation

Opportunities for broader adoption

Challenges to Individual implementation

Challenges to broader adoption

annatuma commented 4 years ago

Thank you everyone for new or edited contributions. They have been reviewed.

Praise-dev commented 4 years ago

Web Monetization

Before the advent of web monetization, the web suffered a flood of advertising and corrupt business models. Transferring money across the web has also been an overdue exclusion from the web platform.

Content creators usually wait for months to be paid by publishers or even get cheated in their pay. This delay in payment or the possibility of being cheated on brought about the birth of web monetization.

Web monetization is simply a proposed API (which uses an interledger protocol micropayments) usually written in JavaScript as it works in the browser environment that enables websites to request a stream of micro payments i.e. as little as a fraction of cents. This technology offers a transparent, efficient and automatic way to reward content creators and support essential web infrastructures while protecting user’s privacy.

How it Works

Implementing the web technology payment technology is only feasible if both the web publisher and the web user both have the web monetization enabled in their browsers.

The first step to becoming a beneficiary of this technology is for content creators to open an account with a web monetization wallet with an interledger protocol enabled wallet provider i.e. XRPTipBot, GATEHUB, etc. and select a preferred currency- either USD or a cryptocurrency like XRP.

The next step is to creators to copy their payment provider from the “creator settings” tab of their wallet then copy this meta-tag in their “” section of the web pages that they would want to monetize.

Finally, they install and enable the web extension of the web monetization technology they opened an account with i.e. Coil, the most common monetization provider as of date. Now, web users can send stream micro payment directly to creators directly in the browser.

Opportunities for Individual and Broader Adoption

  1. Better Privacy for User User privacy has always been an issue on the web as users dread that web services and sites store and use their personal data especially for targeted ads or retargeting. Web monetization, on the contrary, protects user data and does not allow third parties to use their search history or preferences.

  2. Easy to Set Up Setting up web monetization on a site is easy and unambiguous. All that’s required is creating an account with a provider like Coil, choosing a preferred wallet, setting up the payment pointer and they start receiving payments.

  3. Instantaneous Payment Unlike the traditional business models that use ads, creators would have to wait weeks or months to get their paycheck. In some cases, they don’t get paid due to how corrupt some of these models are. However, with web monetization, creators receive micro payments directly in the web browser.

  4. Effective Alternative This technology also offers an alternative to the and subscriptions. The API calls to an interledger offers a new payment method for creators and services and still offers data privacy. Web monetization allows creators to avoid unsolicited ads on their content.

Challenges for both an Individual and Broader Adoption

  1. Abuse of the Technology The primary purpose of web monetization is to stream micro payments to creators. However, this purpose might be abused and used to transfer large a sum of money which defeats the purpose in the first place. In extreme cases, it can be used for fraudulent purposes i.e. using stolen cards to make payments since the interledger protocol removes interference of intermediaries and authorities from the system.

  2. Lack of Quality Current business models rely on clicks and impressions to determine how popular content is or as a measure of content quality. Web monetization, on the other hand, is solely dependent on quality to work. Creators need to put more work in creating top-notch and entertaining content for users to pay for.

  3. Refusal to Pay Web monetization is a new technology and because of its low adoption or prominence, creators frown at the idea of paying a fee to implement the technology on their content. Some payment providers charge as low as $5 per month i.e. coil.

  4. Users require Funds Creators only get paid if users have funds in their wallet, unlike the ads business model that just requires impressions like clicks to get paid. This means, regardless of the traffic their content attracts, if the wallets of users are not funded, creators can’t get paid. In addition, it could take a long time to make a substantial or reasonable revenue as users only stream micro payments.

tasbihaasim commented 4 years ago

What is Web Monetization?

In the simplest words, Web monetization is a process of demanding continuous stream of small payments from the users who visit a website. For a very long time, the only way websites were able to make money was by Advertisements. Advertisements are a great revenue generator but can annoy users quickly and even drive them away from the website. Most users have even started using ad-blockers and this only makes sense because Ads not only take up processing power, they also violate a user’s privacy. Most website owners have now realized that the content they intend to use for money making should be relevant and informative for their visitors. This is why; website owners have started to partner with third party companies and advertise their content on website such that the advertisement content ends up reaching the relevant audience. How does it work? Before understanding the process and flow of web monetization, we need to know what the following words mean: WM Receiver: a digital entity that accepts payments on the behalf of a website WM Sender: a digital entity that makes payments on the behalf of users who visit a website User Agent: uses payment handlers to send payments to the relevant WM receivers and also calculate the rate at which the payment should be received • Websites that use monetization require a destination address for their payments. Usually this address is presented to the audience under a “meta” tag on the website. The browser (user agent) then parses this address to determine where to send the payment. • The browser then fetches a unique destination address from the WM receiver • The browser then starts handling and initiating payments from the WM sender to WM receiver • Browser is then notified of successful transfer of payment by WM sender

In laymen terms, WM Receiver and WM Sender are wallets of two people who want to trade; User agent or browser is the middle man between them who makes it happen.

Opportunities of Web Monetization to individual and broader implementation: Once you decide to adopt Web monetization for your website, you will find yourself experimenting with a number of strategies and methods. It will allow website owners and creators to come up with new and improved strategies. Some of the opportunities that already exist for the website owners to experiment with are: • It is an opportunity for website owner to turn their websites into a platform for selling digital services such as counseling of different types, courses, video games, ebooks, etc. • It can lead website owners to harbor relationships with not only thier audience but also with the companies that they are partnering with. • The privacy of the user is intact which is why users will trust the website owners more. • It is pretty simple to adopt and the website owners are depended on themselves and the companies they are pairing up with. • It opens up opportunities for affiliate marketing. Meaning your website will now be marketing a partner and of course you will receive a portion of the revenue generated. All of these are great ways of generating passive income.

Challenges of web monetization to individual implementation and broader adoption: • Your job as the creator and publisher of the website is to ensure that the website is filled with the content of good enough quality such that it doesn’t feel like spamming to your audience. • You should also keep in mind the quantity of content you are putting up each day. • There will be a need to come up with strong AI based recommendation system. This may be a challenge in the start but can open up a number of opportunities for the website. • A number of users who will visit your website will be on some sort of Ad blockers. This can prove to be a serious issue. • Attracting enough traffic may also be an issue.

eshwitha commented 4 years ago

Web Monetization-

Website monetization is the process of making revenue from traffic coming to the website having website monetization enabled. At this moment the most popular way to make money with the help of web monetization is with PPC - pay per click and CPI/CPM - cost per impression. Different providers act as webmasters in placing advertisements or an extension on websites to benefit from the traffic the site gets. It is a proposed API standard that allows websites to request a stream of very small payments (e.g. fractions of a cent) from a user visiting it. The API's framework provides new revenue models for websites and web-based services and is an alternative to subscription services and advertising, all while preserving the user's privacy. In exchange for payments from the user, websites can provide the user with a "premium" experience, such as allowing access to exclusive content, removing advertising, or even removing the need to log in to access content or services.

How does Web Monetization work? Web Monetization is a new way to pay creators in real-time through an API that uses Interledger Protocol micropayments to monetize a website or streaming channel. Users can enable web monetization for payment streaming through polyfill or an extension. Content creators are able to implement it by adding a line of code to their website or specifying a streaming channel for web monetization. The Interledger vision is to be able to send, receive, and monetize anything in any currency. Content creators and websites that are making revenue from web monetization can provide rewards or special offers for users that have Web Monetization enabled, therefore creating a self-sustaining economy.

Why use Web Monetization?

How can you monetize your website?

The most known service that pays content creators with the help of Web Monetization at the moment is Coil.

Opportunities for Individual implementation

Opportunities for broader adoption

Challenges to Individual implementation

Challenges to broader adoption

Praise-dev commented 4 years ago

Hello @annatuma, I've made my contributions on both tickets two days ago. Please, kindly review.

Hanny247 commented 4 years ago

Outreachy Project's Contribution: What is Web Monetization by Hannah Okon Anwana

Web Monetization (WM) is the process of earning revenue from a website by converting existing traffic being sent to a website into revenue or form of currency. It can also be simply seen as a process of earning money from a particular website or blog through the means of using it as an advertising site for companies who deal on relatively similar products and contents. WM is achieved through different ways some of which are; accepting donations, pay-per-click, creating a job board, building an e-mail list, offering consultancy services, display pop up ads, display of audio ads and podcasts, setting up a teaching program, generating and selling digital products like E- books, affiliate programs, among others.

How WM works WM works mainly through the use of Web Monetization technologies, it entails the use of existing structures designed by WM service providers or in-house designs. For a website to be monetized, it needs an Application Programming Interface(API) that will allow other people to access and integrate their data into their private and public sites and application. API uses interledger protocol micropayments to monetize the website. The Interledger is a set of protocols that allows sending and receiving of payments as well as maintain a record of financial transactions. Web Monetization also uses wallet and payment pointers to thrive. Payment pointers express a Uniform Resource Locator (URL) that points to a secure payment initiation endpoint on the web, using simple conversion rules.

Opportunities in web monetization: web monetization has a lot of room for advancement and progress. It is easy to set up, records a recurring income, creates a self- sustaining economy. WM is more of smart work instead of hard work, it reward for special offers for users. On time payments, referral program, flexible settings and extra passive income are some other packages embedded in web monetization

Implementation of Web Monetization: Challenges: some of the things that can make web monetization efforts less productive are; Content Quality: Content! Content! Content! Everybody is particular about getting value for money and even time. Website users are interested in getting interesting content especially when they are paying for it. The website should offer preferable contents that will leave their users satisfied. Contents is very important as it is a major determinant of traffic on a website.

Website design and Ad Quantity: Some websites are not easy to navigate and loaded with so many ads, quantity does not always equal quality. There should be specifications on how many ads that is appropriate to avoid overcrowding, the use of ad blocks can be employed by the website to curb this and multiple repetition of messages should be avoided.

Choice of technology and WM service providers: some, if not most websites engage 'professionals' to monetize and manage their web for them. The competence of these professionals will determine the success of the project. Some websites have recorded problems in this regard especially in the area of payouts.

Payouts: the payment structure can be a make-or-break element, the aim of monetizing a website is to generate revenue, if this is confused or delayed, it poses a challenge. So when monetizing a web, this should be discussed explicitly and agreements should be reached.

Use of Ad Blockers by users: this can limit the number of ads or content a user gets from the website. It is of more concern since the website has little control over this. All the same, websites can ask visitors to turn off their Ad blockers while assuring them that they will get value for their time and money, and actually making this happen.

Lack of alternative ways of making profits: This is a clear case of putting your eggs in one basket, websites should diversify using different approach and services such as; email promotions, affiliate links, video monetization, using subscription models and paywalls, offering consultancy services, etc. Multiple stream of income is the best.

Website monetization should be systematic, a lot of findings should be made on what method of monetization should be adopted, bearing in mind the advantages and disadvantages of each method.

satakshigarg commented 4 years ago

Web Monetization provides websites with a way to collect multiple small payments from users in exchange for consuming the site's content and/or services. Traditional payment networks operate independently from each other. Sending value is easy only if the sender and recipient have accounts on the same network, but it can be slow and expensive if they have accounts on different networks. Interledger makes it easy to transact in whatever currency or payment network you choose, because Interledger is not tied to any one company, blockchain, or currency.

GOALS of Interledger

• Enables a Global and an Open web • Protects privacy of users • Enables very small payments

FLOW of Web Monetisation Framework as proposed by Interledger

image

Challenges and Opportunities of Web Monetization

• Memberships and donations are a two-edged sword: they can be a source of recurring revenue, but they can also be a short term or even once-off things. • Setting the emotional tone of the narrative that should trigger people to become members or donors can be tricky (there is a fine line between asking for help or support, and begging for money) • Monetization without ads : Being a frequent web user, I have faced this issue of unwanted ads disturbing my work. Websites do offer paid memberships for ad-free experience, but what if a person can’t afford to pay for it. • Eliminating middlemen: As said by Stefan Thomas , CEO of Coil, “That was definitely challenged once I spent more time working with people from Mastercard, Visa, and so on. They are really good at their jobs, and it’s not like I can point at those systems and say, “You’re using an outdated this or that.” These are well-architected, and battle-tested systems. And on the flip side, with Bitcoin, we eliminated middlemen, but as soon as the network started to get popular, the transaction fees went up anyway. We thought the transaction fees are only there because the middlemen are so greedy. But with Bitcoin there are no middlemen, so why would the transaction fees go up?” “

AriB98 commented 4 years ago

What is web monetization?

Website monetization, simply put, is the process of turning traffic being sent to a website into revenue. Some of the most widely known ways of monetizing a website include pay per click (PPC) and cost per impression (CPI/CPM) advertising. Some examples of this include websites using Google AdSense. Social media providers such as YouTube allow content creators place ads on their content in order to generate revenue.
A new way of web monetization is the use of an API that establishes a payment stream from the user agent to the website. The creators of the website are paid based on how long a user interacts with the content on the site. The main aim of the web monetization API is to facilitate an easy, transparent and efficient way of generating revenue for content creators in a way that benefits the end user and protects their privacy.

How does it work?

The API uses Interledger Protocol (ILP) micropayments to monetize websites. The payments are split into packets and then transferred to the intended recipients. The transactions can occur over various ledgers (i.e. XRPTipbot). In order to implement web monetization on a site, the creator includes a tag to their website code. This tag contains a payment pointer and the browser then parses the tag to determine who payments should be made to. Next the browser uses its own web monetization agent (in the form of a browser extension) to calculate the amount of payments to make to the site. The browser then creates a session ID and fetches a destination address from the site’s web monetization receiver. The browser initiates payments to the website at the rate calculated by the user’s web monetization provider. The provider sends the payment to the receiver, notifies the browser of a successful payment and finally the browser informs the page of the payment made.

Current implementations Some web monetization wallets include: • XRPTipbot • Gatehub • Stronghold Some web monetization providers include: • Coil • Flattr

Opportunities and challenges to individual implementation

• Opportunities o Web monetization technology is user-friendly and easily implementable as it only requires a few lines of code. o With web monetization content users are able to browse and the enjoy content they’re paying for knowing that their privacy is protected and activities are not tracked or sold to ad companies. o Users are able to browse the web ad-free. The constant bombardment of ads on webpages is a common pet peeve amongst internet users.

• Challenges o Certain users may not be able to pay to enjoy content due to their socio-economic situations. It may be more affordable for these individuals to simply view an advertisement.
o Website and content creators may feel under pressure to consistently produce quality content in order to maintain and grow their audience.

Opportunities and challenges to broader adoption

• Opportunities o It promotes the general culture of user data protection. Many large companies will no longer be able to sell user data to advertising companies. o Generally, website owners and content creators will be more motivated to provide consistent and premium content for users since they are generating a steady stream of income from them. This thereby increases the overall quality of content on the web. o It establishes a standard and unified means of payment which will encourage a culture of more transparent and trustworthy transactions across the web.

• Challenges o A total shift to web monetization may cause online advertising to go extinct which creates problems for companies that base their business models on online advertising. o It may take some time for this technology to be implemented all over the web as it is relatively new. It would require measures such as awareness campaigns. This may cause some trouble for websites already implementing this technology as sufficient revenue generation may take time.

rithyaga02 commented 4 years ago

Outreachy's Project Contribution Web Monetization The process of converting existing traffic being sent to a particular website is named as Wb Monetization. Different providers act as a webmaster in placing advertisements or an extension on website to benefit from the traffic the site gets. In real time it pays the creators through an API in which Interledger protocol micropayments to monetize a website Some of the popular ways of Monetizing are Pay per click (PPC) Cost per impression (CPI/CPM) advertising Affiliate programs Paid Subscriptions Data Monetization And the two most important metrics that counts to a web publisher to monetize their website are

  1. Fill Rate or the percentage of inventory
  2. eCPM (cost per thousand impression) Why use Web Monetization? • Easy to use- all you need is a tag • Simple to use • Secure • No action required from users • Traffic equals payment so quality content is rewarded. How Web Monetization can improve user’s satisfaction • Web Monetization can improve the user overall satisfaction with your web content because he won’t be persecuted by your ads, and you still will make money from him. • In fact, Web Monetization offers the user to choose where its web monetization funds should go when navigating the web.

Web Monetization wallets Web Monetization wallets that accepts ILP payments are XRP Tipbot Gatehub StrongHold Web Monetization Provider Coil is the only known web monetization provider which acts like a medium where we can share articles and offers a monthly fee for viewing article. How do I web monetize my own content? 💰 Implementing Web Monetization is quite easy, in fact, this consists in adding only a line to your html files. This new line is called Web Monetization Meta Tag. Setup a Web Monetization Wallet In order to receive payments you need to set up a Web Monetization Wallet, you can use one of the above. Get your payment pointer When you finish to set up your new account you’ll receive a Payment Pointer. A Payment Pointer looks like this: $coil.xrptipbot.com/C3adA1B9Q5qMu4Z3i4Bfhw Generate your Meta Tag The Meta tag is the tag we’re going to add to our web monetized web pages. This looks like this: <meta name="monetization" content="$coil.xrptipbot.com/C3adA1B9Q5qMu4Z3i4Bfhw"> The tag’s name have to be monetization Add your new Meta Tag to your pages Copy your Meta Tag and add it to your websites’ section. It should look like the example below: <!doctype html>

Web Monetized Site
ghost commented 4 years ago

@annatuma Greetings, everyone and my name is Ruth and I am Creole form Hamburg, North Germany. I am an Outreachy applicant and the last 4 weeks have been a living hell here in Germany. I sincerely hope for everyone that their family and relatives are safe and wish you all the best. Unfortunately, I was not as lucky, my entire community broke down to say the least. Below, I have my application proposal and I would appreciate if Corona pandemic can be taken into account. There were many days where my city was in a state of emergency including those I love dearly. Kind Regards Ruth

Web monetization

Content **- Definition: What is Web monetization

Overview The Web has revolutionized our modern day lives beyond imagination. While it has enabled us to connect with like minded individuals from across the globe, it has created endless new opportunities to generate an income. For instance creatives of any kind can now showcase their work to a wider audience, charities can make their cause be heard by many and service providers can offer their services internationally. But when it comes to web monetization, it is not only creating products that can be purchased online, web monetization itself describes the ART of creating revenue through the traffic to one's website. It is an umbrella term that describes implementing techniques from online marketing to generate an automated revenue system that suits the needs of the company or individual.

While people may believe in get rich quick schemes, this is not the case when it comes to web monetization. On the contrary, successful web monetization is the result of a good strategy implemented, creativity to engage the audience and thus, web monetization is hard work. Furthermore, the techniques are being increasingly critisized for not being ethical. In this short proposal, it is the intention to create an overview of the most commonly used techniques and how they can be implemented on the Creative common Website. Finally concluding with theoveral cahllenges and some ideas of how it could be reshaped in the future. Web monetization techniques Affiliate Marketing (.. and affiliate links) Affiliate marketing describes promoting products of third party companies on the website via an affiliate link. This link can be either used in an email list or on the website itself. The idea behind it is that once the visitors use the link to purchase the product, the promoter, in this case, the website, will receive a commission. It is proven to work and one of the most sought after web monetization techniques.The commission percentage may be very small and thus the website will have to have a lot of traffic in order to generate a substantial profit from this particular technique.

Google Adsese also known as Pay“Pay Per Click” advertising AdWords and Adsense are part of google advertising systems that allow companies to run ads on your website. This is super simple to set up. Google uses their algorithm to determine the context of the website, so that only relevant ads will be run. Simply create an account and apply to be accepted for Adsense to gain the automated pop up ads on your website and once a visitor clicks the link, the company receives a commission. Selling ad space There are always companies that want to sponsor a blog and these companies might just need a persistent banner on your website. It could be for a fixed price and generate income. Depending on the traffic generated on the sire, one could increase the ad spacing price to reflect the traffic the ad is exposed to. There is no third party involved and thus more control of what kind of company advertises as one chooses the margins and the ad spot oneself. Creating an email list This could be done with a simple email list button in which a visitor can subscribe to the site and be updated with the most recent developments within creative common. These individuals can then be targeted with blog posts which may or may not include affiliate links or banners from companies, thus using a combination of techniques.Again this is very simple. Adding a subscribe button and storing the email data is not a lot of work for a developer. This is a long term strategy and will require time and effort. Continuously engaging with the email list, not overwhelming, or rather spamming them and thus finding the right balance is the key. The main idea is to create a long term relationship with website visitors, creating a valuable base of followers who can then be targeted with high quality content, ideas, product etc.

Use monetization widgets Using widgets on a wordpress powered website. These are also very similar to Google Adsense, so they’re worth trying out as an alternative. Using an RSS feed for the ads. This is another way of using ads in line with RSS feed content. Creating a job board on the website for creatives of all kinds. This is also a very nice way to reach out to the community and change only companies to advertise their vacancies. Content Lockers Example www.medium.com The website medium is a great example of this technique. Once a visitor reads a previously specified amount of content, the website blogs additional content until a previously specified action is taken. This could be signing up for the newsletter, or paying a subscription fee. 6 Using audio ads Instead of using banners or adSense, one could also use audio that plays once someone clicks over the ad. Selling e books This is another great strategy used by many which involves creating digital products that people can download from the website for a fee. The money can directly be reinvested and the payment can be securely done using paypal. Create a conference for Creative Common visitors. In the time of the Coronavirus, this sounds like a super bad idea. But generally speaking, this hard work of organizing an event and advertising this on one's one website, selling tickets can pay off and be a very positive encounter for all like minded individuals. Challenges of the broader adaptation. “The web’s richness and diversity comes from its individual creators: writers, coders, musicians, podcasters, app makers, journalists. But in the current web ecosystem, big platforms and invasive, targeted advertising make the rules and the profit. Consumers lose out, too — they unwittingly relinquish reams of personal data when browsing content. That’s the whole idea behind ‘surveillance capitalism.’ Our goal in joining Grant for the Web is to support a new vision of the future. One where creators and consumers can thrive.”Mark Surman, Mozilla’s executive director. The quote summarizes the feeling shared by many when it comes to making money on the web. 1. When using third party advertising instruments, such as Google Adsense, Youtube, one must submit to their rules and regulations. This may mean that the commission base for an affiliate link may suddenly change, decreasing value or that an adsense account may be deleted just because of a breach with code of conduct. These are forces that are beyond one's control. It is thus imperative to continuously stay up to date with the changes when using thesex web monititzation techniques. 2. The AI that controls what is good and what is not. Today, most of what is trending is actually calculated or rather dictated by algorithms. Today, a lot of creators fear the fact that they will not BE creative, rather, they will be attempting to please an ever changing algorithm.

3. Some criticize the so-called data mining. Data mining explains the process in which large companies gather consumer data through various rather dubious techniques which leave the consumer in the dark when it comes to realising what is happening with their data once they click on a certain banner. Web monetization of the future. “Grant for the Web uses open technology and direct funding to promote alternative online business models for content — and a healthier internet.” Grant for the Web is an initiative between Mozilla, Coils and the Creative Commons to tackle some of the challenges listed above by providing grants to creators, freeing them to fall victim to some rather exploitive measures and algorithms. These initiatives understand the complexity of the web and realise that in order to keep the quality of content at the highest, one must find and protecta those who aim to do so. ”I think that a common standard of monetization for the web and the creation of new browser APIs could improve the adoption rate of future web monetization.“ sais Seth Corker.

He continues to argue that there will also need to be a change in perception. Firstly, we need better browser API’s for all to better incorporate financial endorsement techniques and consumers need to have it easier to pay for the quality they receive. In order to protect the privacy of the consumers and also the APIs that developers use, there needs to a global initiative for open web monetization techniques that are more flexible than those ones offered by the very few big companies.

Resources https://foundation.mozilla.org/en/blog/100-million-investment-reshape-economi cs-web/ https://medium.com/front-end-field-guide/the-future-of-web-monetization-4dfb 0701efdf https://www.brid.tv/7-best-alternatives-youtube-video-monetization/ https://en.wikipedia.org/wiki/Website_monetization

oyoloye commented 4 years ago

Outreachy's Project Contribution | What is Web Monetization? | Oluseyi Yoloye

Brief Description: Web monetization in layman's terms is the process in which money is made from the web; website visits are converted to revenue. Before development practices became more popular, there wasn't any industry-wide standard for web monetization. Web monetization happened across companies like Twitter and Facebook who monetized their sites through paid Ads. The W3C proposed an open, neutral standard API for web monetization. The proposed API is built on the Interledger(IRL) protocol which is described on its official site as “an open protocol suite for sending payments across different ledgers.”There is the Payment Request API and the Payment Handler API.

How does web monetization work? Essentially there are two wallets, one receives payments and the other sends payments. The user's wallet is the web monetization provider, whereas the website's wallet is the web monetization receiver. The intermediary between the two is the web monetization agent. The user’s wallet information is recorded when the extension is installed and the website’s wallet information is available in the meta tag (snippet of the text that describe page contents) of the website. The browser plays a key role in implementing Web Monetization.

*_How can you monetize your website? (These are just a few ways)_** Banner advertising Affiliate programs Data monetization Pay per click Banner advertising Paid subscriptions Donations

Advantages of Web Monetization

  1. Users can determine where funds will go on the web
  2. Web monetization setup is relatively easy
  3. Web trafffic creates increased revenue as users are on page longer
  4. The technology can easily be customized by developers
  5. Users can determine where funds will go on the web
  6. Better Privacy for user Improve payment performance and simplicity

Challenges for individual implementation: Web monetization hasn't been widely adopted so new users may face challenges in regard to implementing the API.

Opportunities for individual implementation: Adoption widely will allow website owners to generate increased revenues as there is no direct reliance on subscription conversion rates. Additionally, it is easy to use and advanced experience is not required.

Challenges for broader adoption: Online advertising may in the foreseeable future no longer exist, This poses as a challenge to companies whose business model is primarily due to online advertising.

Opportunities for broader adoption: Security and Privacy: According to computing ethical standards, a users privacy must be preserved. Websites should not be able to track users based on the payments they make. Additionally, and a user's browsing history should not be available to the web monetization provider.

HiraAfzal1 commented 4 years ago

Web Monetizaton: Monetization basically refers to turning non-revenue generating thing into a profit generating one. Web Monetization is a process through which website owner can generate revenue from its website traffic.

How Web monetization works? For a website owner to earn a consistent amount from a website/blog through web monetization,the website has to have some existing traffic base. The website/blog owners then chooses the right web monetization technique to target the audience coming to its website to stay. Website that now has activated web monetization by adding a code to their site will start generating revenue from the user that are logged in from browser have web monetization agent working. Web monetization platform sends and receives payment with the help of Interledger protocol.

Opportunities and challenges of Individual Implementation: Opportunities:

  1. Few lines of code is required to implement this approach or it is an easy to use approach
  2. For the payment purpose, the sender and receiver do not need to have same payment network or same currency. Challenges:
  3. Great amount of effort is needed to generate revenue from existing methods.
  4. Small payments have high processing cost.

Opportunities and challenges of Broader adoption: Opportunities:

  1. User's privacy is the top concern in this as the web monetization provider don't have any access to user's browsing history.
  2. It doesn't have any strict content policies to follow Challenges:
  3. Adoption of this relatively new method by users is a challenge itself.
  4. It is hard to make the users subscribe as people are not willing to pay for online content.
MerKedes commented 4 years ago

Web Monetization: What is it and how it works After lots of contemplation, you finally decide to bring your big idea to the world. Writing your blog in your little journal is great and all but no one else is experiencing it, so you launch a website. Now sharing your wise words is wonderful but at the end of the day we’ve all got to eat so it’s time to turn that blog into a money maker. But how do you do that? Simple: web monetization. Each visitor to your website makes a certain amount of money. How? Think back to the last time you visited a blog. The article was there but without fail, ads lined up the side. Looking at the blog, you are a visitor, and viewing the ads generates money. If I’m a third party business that wants to get other people to see my really cool pen, I want to make an ad. If you, the blogger, have a lot of traffic, or number of visitors to your website, I want to put my ad in your blog so that lots of different people see it and buy my pen. That’s one of the most common ways to monetize your website. Another common way is to sell something. So if your blog is all about power tools, selling power tools or selling a subscription to your Power Tools For All magazine will also generate money. That’s the simplified version. To be a little more mathematical, the effectiveness of your monetization is measured in Effective CPM (eCPM). eCPM is denoted by the formula total costs / impressions * 1000. For perspective, websites with little traffic can get CPM’s less than $1 but if your website is gold, then CPM’s can exceed $100. Multiply your CPM by how many visitors you get and that’s your monthly revenue. To make the most money, get more visitors or get more CPM.

Individual Opportunities Web monetization represents your ticket to the golden city. The most obvious opportunity is money. You play this right, and the money will practically earn itself. Many people fear delving into the monetization world because it will be too techy and they don’t know how to do that, but here’s the kicker: it’s not. If anything it’s a business venture, one easily learned through trial and error. Not only do you get that money, but suddenly you’ll find your words and products viewed but a greater audience.

Individual Challenges It won’t be all sunshine and rainbows. When starting a website, one of the most frustrating aspects is lack of visitors. When you see your CPM low, your visitors low, it’s disheartening. Web monetization isn’t for quitters. It’s a lot of decision making too. What kind of ads do you want to run? Should they count as traffic if they’re viewed or do they have to be clicked? Will you sell anything? How you will sell it? These are just a few of the questions you have to answer. It’s a lot of work and time.

Broader Adoption Individual benefits are great, but monetization of your website is also altruistic. For example, implementing ads will connect your viewers with new opportunities. Looking back at my previous example, maybe some of your viewers were looking for a pen, and through you, they finally found what they were looking for. You are singularly responsible for connecting people from your world to people from another world. You’re also supporting other businesses just like you. Getting traffic to other websites strengthens the web economy. Not many challenges exist for broader adoption but there once again stems this concern of brick-and-mortar stores vs. online stores. If web monetization flourishes and becomes more lucrative than brick-and-mortar stores, businesses will move towards the money maker and close physical stores, leading to a rise in unemployment and other issues.

annatuma commented 4 years ago

Thanks to everyone for their submission. Because the application period has passed, we are now reviewing final proposals, and are no longer accepting contributions on this task.