Quick take:
- Revuto is providing lifelong Netflix and Spotify subscriptions via the Revulution NFT.
- After purchasing the NFT, Revuto will give buyers a digital debit card to pay for their Netflix and Spotify subscriptions.
- Revolution NFT buyers can monetise their unused subscription periods by selling them to others.
Croatian subscription management startup, Revuto, today announced that it is launching lifelong Netflix and Spotify subscriptions via the Revulution NFT. From Jul 11, 10,000 interested users can purchase a limited edition Revulution NFT on Revuto’s website.
By purchasing either a Netflix or Spotify Revulution NFT for a one-time flat fee of $349, users will get a lifelong subscription to either service. After completing the purchase, Revuto, in cooperation with Railsr, will provide buyers with a virtual debit card to pay for their Netflix or Spotify subscriptions.
The Revulution NFT can be traded on the secondary market, allowing users to profit from the NFT. The NFT also enables users to sell or gift unused subscription periods to others. Users who sell their subscriptions will have their digital debit card deactivated and the new users will have their own virtual debit card to pay for subscriptions.
Unlike most subscription services that require users to pay for a specific time period, Revolution NFTs allow users to subscribe for any period and get a discount. The purchased subscription would not have a value less than the subscription period left as users are able to send or sell it to others after enjoying the subscription.
Revuto will top up the virtual debit card to cover the subscription for as long as the subscription period lasts. 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 owns the NFT.
“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. 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,” said Josipa Majić, cofounder of Revuto. “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.
Revuto raised $10 million in 2021 and currently has a total of 350,000 active users. Users interested in the Revulution NFT can purchase it using credit/debit cards or cryptocurrency.
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