The Croatian startup is selling NFTs that will allow holders to monetize subscriptions and offer a limited number of users a lifetime subscription to Netflix and Spotify services.
Revuto, a Croatian startup aiming to revolutionize subscription management, has announced the launch of its latest innovation, lifelong digital subscriptions to Netflix and Spotify services via its REVUlution NFTs. The unique and innovative product is available to a total of 10,000 users who purchase a limited edition Revulution NFT on Revuto’s website. The NFTs will also allow holders to buy, send or sell unused subscription periods to others on the NFT marketplace.
According to Vedran Vukman, CEO and co-founder of Revuto, the latest campaign arises from customer demand, who need a solution to the current issues facing subscription services. The Revulution NFTs will allow users to efficiently manage their subscriptions and “make the digital subscription market fairer and more equitable”, Vukman added.
“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,” he said. “Moreover, in case they are not using the service, the users can simply get their money back or even profit from selling the NFTs.”
Revuto is a subscription management app, available on Google Play Store and Apple App Store, which aims to revolutionize the trillion-dollar industry using a single app. Revuto users have ultimate control over their subscriptions directly on the app, whether they want to unsubscribe easily, pause their subscriptions, pay for subscriptions with crypto, borrow funds when paying, or secure protection against free trials.
With the introduction of Revulution NFTs, the app allows users to subscribe to any service in the world for any period of time and send or sell (monetize) unused subscription periods to others. Unlike the current subscription model which requires users to have longer subscriptions for better discounts, Revuto allows users to buy any subscription for any period and get a discount.
“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,” Josipa Majić, cofounder of Revuto said. “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.”
How the Revulution NFTs work
Simply, the holder of an NFT for a specific subscription holds the NFT in their Revuto wallet and Revuto provides a virtual debit card to the user, which is then used to subscribe to the service of their choice. Powered by Railsr (formerly Railsbank), the Revuto virtual debit card will be topped up by Revuto to pay for that subscription as long as there’s a subscription period left.
If a user sells their NFT, or ownership changes within the Revuto app, the new owner will get a new Revuto Virtual Debit Card to use with this account for the same service. Again, Revuto will be topping up that VDC to cover the service expenses for as long as there’s a subscription period left. Once the subscription period ends, the NFT will expire, and Revuto won’t be topping up old or issuing new Virtual Debit Cards for that service regardless of who has the NFT in their wallet.
“With such a unique approach, Revuto is introducing something completely new to the world of subscriptions, something that will enable the creation of an entirely new market of prepaid unused subscriptions,” added Josipa Majić.
The limited edition of Revulution NFTs will be available on Revuto’s website at the price of USD 349. Users will be able to pay for the Revuto NFT with credit or debit cards or using crypto.
Revolution NFTs join a line of NFTs launched on Revuto in the past including Rstronut NFTs, utility-focused NFTs that boost users’ staking APR, and R Fund NFTs, which support pre-ICO Cardano projects with the opportunity to invest in their tokens early.