On July 11, the Croatia-based subscription management firm Revuto introduced a lifelong online subscription using NFTs for Netflix and Spotify.
Revuto unveils Revulution NFTs.
The NFT collection, known as Revulution NFT, went live on Revuto’s webpage on July 11, 2022, at noon (CET). Each individual digital asset is priced at $349 (USD) and could be bought with a credit/debit card, cryptocurrency, or both.
As per the information given to CQ, once a subscriber makes a purchase, Revuto will give them a virtual debit card they will use to pay for their Spotify or Netflix subscriptions in conjunction with banking partner Railsr.
Additionally, in association with Crypto.com, Revulution NFT makes it possible to trade on cryptocurrency exchanges. This capability makes it possible to have a secondary online subscription market. When an owner sells their Revulution NFT, Revuto shall disable their virtual debit card and issue a fresh virtual card to the new NFT holder so they can use it to pay for Netflix and Spotify subscriptions.
The Revulution NFT, according to co-founder and CEO of Revuto Vedran Vukman, was developed to give its 350,000 customers a “steady membership price” that they can simply share with their colleagues.
Users may easily get their cash back if they decide not to utilize the service, and some may even make money by selling their NFTs, according to Vukman. Revuto wants to make it possible for everyone to successfully handle their subscriptions and, in the end, to create a more fair and equal online subscription market.
Revuto is working on digital debit cards for the EU and UK
The Revuto team confirmed in a status report later in the week that they have been concentrating on numerous projects, chief among them the testing of digital debit cards for the EU and UK markets and electronic debit cards provided by Railsr on the backend and front end.
Revolution’s debut is just the start, according to Josipa Maji, a co-founder of Revuto. The co-founder continued that Revuto is bringing something entirely fresh to the realm of subscriptions. This will enable the development of a brand-new market for unused prepaid memberships.