Revuto came up with an NFT that offers its owner a “lifetime” subscription to Netflix or Spotify
Revulution NFT is a product that guarantees a subscription to Netflix or Spotify in such a way that Revuto covers the NFT owner’s monthly subscription costs as long as the user keeps the NFT in the Revuto app.
The Croatian startup that designed an innovative way of managing subscriptions, after a year of work, presented a new innovation that it will offer to those interested from July 11.
As Revuto said at the presentation, it is a unique innovative product – lifetime digital subscriptions for using the Netflix and Spotify services through their Revulution NFT. Thus, from July 11, 10,000 interested users will be able to purchase a limited edition NFT through their website.
They explained how those who decide to buy Revulution NFT, for $349, are entitled to a “lifetime” subscription to Netflix or Spotify. At the same time, they are protected from potential future subscription price increases, because as long as they own that NFT, Revuto will take care of covering the subscription costs. The only risk the customer has is that Revuto runs out of money to pay for the subscription, they explained.
Dino Ivankovic, head of business development at Revuto told to Cointelegraph how these subscription-based NFTs could become an ecosystem of their own:
“We aim to bring more control to the end-user. NFT technology will allow users to monetize their unused subscriptions by sending or selling them to others who will be using them. Users might be able to even rent it in the future.”
In cooperation with its partner Railsr (formerly Railsbank), one of the largest debit card issuers in the world that equally supports the global fintech success Crypto.com, Revuto assigns Revulution NFT owners a virtual Mastercard that Revuto will top up every month with the required amount to pay for his Netflix or Spotify subscription. But unlike a classic card, a virtual card connected to Revulution NFT can be traded, opening up a whole new market for digital subscriptions. As they explained, after a user sends or sells their NFT to another user, Revuto will deactivate the virtual debit card of the old owner and assign the new owner of the NFT a new virtual debit card that the user will use to pay for his Netflix or Spotify subscription.
They added that the limited edition of Revulution NFT will eventually provide its owners with some other benefits within the Revuto app, such as cash-back, additional forms of earnings and the like. They also announced the possibility of sharing passwords for access to certain services through their application.
The purchase of NFT will be available through the Revuto website at a price of $349, sales will begin on July 11, at noon, and can be purchased using credit or debit cards, as well as cryptocurrencies.
