Image sharing app Imgur craves meme inventors to get paid for their content and is setting up the infrastructure to make it happen.
The company announced Wednesday that it has received a $20 million investment from San Francisco-based start-up Coil, which flows a micropayment tool that helps authors monetize their content.
Imgur, which boasts more than 300 million monthly users, will integrate Coil into its service and pay founders for every second their memes are viewed.
Users will pay a small monthly fee to Coil, install the company’s browser extension, and then support their favorite meme barons simply by considering their initiations. TechCrunch reports that inventors will be paid at a rate of 36 pennies per hour, with Imgur and Coil receiving a cut of the earnings as well.
Founder and CEO of Imgur Alan Schaaf described the new project as a continuing of the company’s core values: to” give more than we take .”
” Everything from the behavior we operate as a team to the ways in which we partner with labels is built around this core value of holding to the community ,” Schaaf said.” Coil’s technology will open up new opportunities for users to give to one another and support the community in new ways .”
Imgur accentuates, however, that the brand-new subscription-style service will not negatively affect its millions of non-paying users.
” We’re in the business of obliging the internet better ,” Schaaf said.” We do not plan on taking anything away for the community .”
If the partnership proves to be successful, the representation could spread to other social media locates and support content creators with a new style to make money that isn’t based on ad revenue.