Innovative Croatian blockchain startup Revuto is bringing well-thought-out utility to non-fungible tokens (NFTs) with this week’s launch of a radical new product that will provide eternal subscriptions to Netflix and Spotify for 10,000 lucky users.
On sale now, the limited edition NFTs are part of Revuto’s drive to revolutionize the way people subscribe to a range of services, including music and TV streaming, games, gyms, food deliveries, software and just about anything else that involves regular monthly (or annual) payments. Revuto gives users fine-grain control over all of their subscriptions from a single application, making it simple to unsubscribe easily and avoid paying for services they no longer want to use.
This is where the revolutionary Revolution NFTs come in. Essentially what they do is tokenize subscriptions to any service. This way, it becomes possible to access Netflix for any duration – a week, a month, five months, two years and three months, whatever the user wants. Best of all, users can monetize an unused subscription at any time if they decide they no longer wish to use that service. Maybe you move house and your landlord provides free Netflix? In that case, you can simply sell your tokenized Netflix subscription to someone else.
Each Revolution NFT holder receives a digital debit card from Revuto to pay the subscription. Revuto will top up that card, which can only be used for that specific subscription service for the duration of the subscription period. However, if the user decides to sell it early, for instance, with six months still left, whoever buys it from them will receive a new virtual debit card in their name, which can then be used to keep paying the subscription.
Another advantage of buying a Revolution NFT is that Revuto provides discounts no matter how long you sign up. Most providers will only offer a discount to users that sign up for a year or longer, but Revuto provides one regardless.
Revuto co-founder and Chief Executive Verdran Vukman said his company was giving the community exactly what it has asked for – a solution that provides a stable subscription fee that can be easily shared with friends and family. “Moreover, if they are not using the service, users can get their money back or even profit from selling the NFTs,” he said.
Once the Revolution NFT’s subscription period ends, Revuto will provide an address to which the user can send it, to dispose of it. Inside their wallets, users will have a way to confirm the validity and duration of their Revolution NFTs quickly.
To celebrate the launch of the Revolution NFTs, Revuto is offering its users the chance to sign up for one of 10,000 limited edition tokens that will provide a lifetime membership to Netflix or Spotify.
Revuto has an affinity with NFTs. It first introduced tokens, known as Special NFTs, to reward users when they referred their friends to start using Revuto to pay for and manage their subscriptions. The company was quickly overwhelmed with interest and responded by introducing Rstronaut NFTs, its first tokens with real utility. With Rstronaut NFTs, users can boost their staking APR and earn rewards in REVU tokens. Revuto has also created R Fund NFTs for users who want to invest in pre-ICO projects building on Cardano.