Revuto, a Croatian business, has launched its first NFT collection, Revulution NFT, which allows owners to get a lifetime membership to Netflix or Spotify. The launch will take place on July 11 at 12pm CET, when 10,000 Revulution NFTs will be available for purchase on Revuto’s website.
Users will be able to purchase the NFTs for $349 USD using a credit card, debit card, or cryptocurrency. The NFT membership will provide the bearer with a strong feeling of ownership, since they will be able to maintain their subscription for as long as they like.
When they have completed the subscription, they will be able to sell the NFT on a secondary market or give it as a gift.
“Based on the feedback we received from our 350,000 active and verified users, we have decided to give the community exactly what they have asked for – a solution that guarantees a stable subscription fee, that they can share with their friends or family members in a simple and straightforward way.” said Revuto CEO and co-founder Vedran Vukman.
“In addition, if customers do not utilize the service, they may easily get their money back or even earn by selling the NFTs.” We want to make it easier for everyone to manage their subscriptions and, ultimately, to make the digital subscription market more fair and equitable.”
After unveiling its groundbreaking subscription model last year, Revuto has already garnered over 350,000 registered member.
T.he idea is to provide the subscriber greater flexibility over how they handle their money. In the existing system, subscribers may ‘block,”snooze,’ or ‘approve’ payments, and Revuto now aims to revolutionize the NFT industry.
How does it perform?
Following the purchase of the NFT, Revuto will provide the customer a digital debit card to pay for their Netflix or Spotify subscriptions.
Furthermore, a Revulution NFT allows trading on crypto exchanges, so creating a new secondary market for digital subscriptions.
When a user sells their NFT, Revuto deactivates their digital debit card and issues a fresh virtual card to the new user to pay for their Netflix or Spotify subscriptions.
“Our Revulution NFT for Netflix or Spotify is just the start, and also an introduction to the subscription NFTs that people will be able to use to pay for any subscription in the world, for however long they want.” said Josipa Maji, creator of Revuto.
“I am immensely proud of the team behind this project, and we are all looking forward to everything that is coming in the future. We are confident the market and existing user base will once again react positively to what we have done.”
Additionally, owners will get discounts when choosing their subscriptions, as well as the possibility of giving or selling them to others.
In 2021, Revuto launched its subscription app and raised $10 million in its first token sale on the blockchain platform Cardano.
So far, it has garnered three million early sign-ups for the app, and it presently has over 350,000 active users.
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