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Hacker Noon Raises $1 Million From Coil to Help Content Creators Make Money

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Hacker Noon announced a new strategic investment from Coil with a value of $1 Million. The new investment includes integrating a system from Coil in Hacker Noon that helps content creators make money using micro payments. The system is similar to many other content distribution services, and lots of blockchain-based content projects have used it so far.

Hacker Noon serves 4M readers per month, and most of the content published on this service is focused on the development and similar topics. They launched Hacker Noon 2.0 last year that is a management tool for content creators. The new system focused on helping readers, writers, and sponsors use it on their own terms.

Coil, the San Fransisco-based startup, makes tools for content distribution services that help creators monetize their writings. Their new investment in Hacker Noon involves a three-year partnership in using Web Monetization service. This service helps monetization service providers support platforms like Hacker Noon.

“We want to become the best place for tech professionals to read, write and publish,” said Hacker Noon CEO David Smooke. “To date, we’ve provided editorial resources, validation, and distribution. Now with this strategic partnership, Hacker Noon will experiment with streaming micropayments to writers based on how much time Coil users spend reading their stories.”

Coil believes in the nature and mission of Hacker Noon. Because the platform is focused on technology enthusiasts and developers, Coil, and many other tech companies try to grow it and attract more users. After all, improving the whole community means a lot to those companies themselves.

“Hacker Noon is home to an incredibly dedicated community of technologists and software developers,” said Jonathan Greenglass, Coil’s Chief Growth Officer. “We’re thrilled to be working with Hacker Noon to provide its community with a simple way for readers and writers to participate in the value exchange between one another.”

Writers in Hacker Noon can now add Web Monetization meta tag to their contents. After the integration, the money that Coil users pat for reading goes the specific wallet of the writer.