Revuto launches Spotify and Netflix subscription NFTs
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Croatian startup company Revuto just launched Revulution NFTs. Non-fungible tokens grant holders access to lifetime subscriptions to Spotify and Netflix.
Revuto was launched in 2019 and currently has 350,000 active and verified users. The startup aims to help people save money by managing their subscriptions.
Revuto is partnering with exchange platform Crypto.com and banking provider Railsr (former Railsbank) for the release. The companies will issue digital debit cards that let NFT holders pay for their Spotify and Netflix subscriptions.
“Our Revulution NFT for Netflix or Spotify is just the start… 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,” says Josipa Majić, Revuto co-founder.
So, Revulution NFTs are certificates of subscription ownership in the form of non-fungible tokens.
The cost of an NFT is $349. Compare that with a year and a half of a Netflix subscription, costing $10 per month. It’s worth noting that Revulution NFT holders can loan their NFTs to earn passive income or use them as collateral for loans.
Individuals now can purchase NFTs on Ethereum and Cardano networks. Users can pay for the NFTs using cryptocurrencies and debit or credit cards. Moreover, individuals can send NFTs as a gift just by entering the recipient’s email address while purchasing the tokens.
“We wish to enable everyone to efficiently manage their subscriptions and, eventually, to make the digital subscription market fairer and more equitable,” says CEO and co-founder of Revuto, Vedran Vukman.
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