Cardano-based crypto-token, Revuto introduced the unique approach in the web 3.0 space via bringing subscriptions as NFTs for popular entertainment platforms, Netflix and Spotify.
Revuto released a statement about the new integration of “tokenized subscriptions” for the subscription industry.
Revuto has joined hands with Railsr (former Railsbank), crypto-centric digital banking, to sell subscriptions to Spotify and Netflix as NFTs via virtual card.
According to the blog post, these “Revolution NFTs” will be also available to trade on the secondary marketplace as well as a third-party marketplace. Whenever the Revolution NFT is sold, Revuto will suspend the previously linked virtual card and hand over these rights to another customer.
The sale for Revolution NFT will be commenced from today at 12.00 PM (CET) with around $349 price. Users who wish to buy and enjoy this service can pay for the NFTs for both fiat (credit, debit cards) or cryptocurrency.
The blog post revealed that nearly 50% consumers are currently paying for a subscription that they are not using. Revolution NFTs will allow those users to save their money as they can sell their remaining months of subscription to others.
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Vedran Vukman, CEO and co-founder of Revuto, believes that the new instrument will be proven profitable for crypto traders and holders.
“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. Moreover, in case they are not using the service, the users can simply get their money back or even profit from selling the NFTs.”
Josipa Majić, the co-founder of Revuto, revealed that this service will be soon available for Revuto’s ecosystem.
“Our Revolution 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. Also, by using this particular innovation, the users will get discounts when selecting their subscriptions, coupled with the possibility of either gifting or selling them to other users”.
