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Grant for the Web, a group funded by the Mozilla Foundation, Coil and Creative Commons, announced on Monday $100 million in funding to innovate new ways to monetize online content without using user behavior for advertising.

Why it matters: At present, the most sustainable way for a website to draw revenue from its content involves promoting advertisements based on detailed assessments of user behavior. Though that's a strategy many find to be a violation of privacy, there aren't other options available.

Enter Grant for the Web, which will fund research into new monetization methods that don't rely on surveilling users.

  • At least 50% of grant money will support open standards for monetization that anyone could use.

What they're saying: "[W]e’re very interested in identifying new ways of rewarding open creativity and enabling people to show their gratitude to creators who share their work openly with the world," blogged Cable Green, interim CEO of Creative Commons.

Go deeper

Bernie Madoff dies in prison at 82

Photo: Jin Lee/Bloomberg via Getty Images

Bernie Madoff, a former investor sentenced to 150 years in prison for perpetrating the largest Ponzi scheme in U.S. history, died Wednesday at age 82, AP reports.

The big picture: Madoff pleaded guilty in 2009 to a multibillion-dollar scheme that investigators said began in the 1970s and defrauded as many as 37,000 people in 136 countries — including high-profile victims like Steven Spielberg, former New York Mets owner Fred Wilpon and actor Kevin Bacon, according to CNBC.

Ben Geman, author of Generate
2 hours ago - World

John Kerry and China's long road ahead on climate

Photo illustration: Aïda Amer/Axios. Photo: Brian Snyder/AFP via Getty Images

Yes, special climate envoy John Kerry's really in China and no, don't look for a huge breakthrough between the world's two largest carbon-emitting nations.

Driving the news: The State Department yesterday announced Kerry's visit this week, confirming plans that began emerging Saturday.

2 hours ago - Podcasts

Coinbase president Emilie Choi on mainstreaming crypto

Coinbase plans to go public on Wednesday, in a watershed moment for the cryptocurrency industry.

Axios Re:Cap speaks with Coinbase president and COO Emilie Choi about how she thinks about crypto, why Coinbase eschewed a traditional IPO and if we’re ever going to use bitcoin to buy a cup of coffee.

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