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Topic Summary

Posted by: techion
« on: 17-09-2019, 00:22:38 »

Tech entrepreneur Stefan Thomas wants to create a version of the Internet that frees creative types from relying on ad money from YouTube or Instagram to support themselves. Instead, creators would be paid directly by their fans.

To this end, Thomas’s blockchain company, Coil, along with the non-profit groups Mozilla and Creative Commons, will distribute $100 million in grants to creators and others who embrace ad-free business models. On Monday, the groups said the money would be awarded through a fund called Grant for the Web over the next five years.

“The internet has gone from a place rewarding creativity, invention and substance, to one dominated by a few advertising dependent platforms that promote and incentivize anything that grabs and holds the public’s attention,” the groups said in a statement, explaining the new fund will focus on funding creators in a way that doesn’t undermine privacy.
A New Business Model for the Web? $100 Million Creators’ Fund Seeks to Break Tech Giants’ Monopoly