It is safe to say that subscription services are an important part of our modern lives. Whether this is a streaming service subscription, a subscription box for a meal kit, or anything else, the average person has at least a few that they pay for.
Now, subscriptions are about to become intertwined with the world of NFTs thanks to Revuto, a Croatian NFT company. As per a recent announcement, Revuto will be teaming up with Railsr, a crypto-focused digital banking company, to sell lifetime subscriptions to major streaming services at NFTs.
Enter the Streaming Era
The new NFTs to be made available for sale are called Revulution NFTs and the first batch will be based on Netflix or Spotify NFTs. The collection will feature 10,000 assets at a floor price of $349 each that can be bought with debit cards, credit cards, or cryptocurrency.
Once the NFTs are bought, virtual debit cards will be issued and these will be used to pay for the subscriptions. Should the NFTs be resold on the secondary market, the initial card will be cancelled and a new one issued for the new owner.
The subscriptions can also be frozen or cancelled at any time and be bought for oneself or given as a gift. As Vedran Vukman, the CEO and co-founder of Revuto, explains, this service is very flexible and can adapt to users’ needs at any time.
“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,” he explains.
Josipa Majić, the co-founder of Revuto, has explained that the company plans to go even further than just Spotify or Netflix. Over time, more popular subscription services will be added and just like with the first collection, will offer discounts on the services for those who buy.
As he puts it, Revuto wants to revolutionalize the world of subscriptions and create an entirely new market for unused subscriptions that people can use for themselves, make a profit from, or gift to their loved ones.
Netflix Meets NFTs
At this point, streaming services aren’t going anywhere anytime soon and neither are NFTs. This venture provides a unique utility for NFTs among consumers. With the prices of some streaming services going up periodically, a lifetime subscription would be very attractive to a lot of people.
Not only is there a guarantee for those who buy these NFTs of how much they will pay for these services, but there is also the option to gift or sell them. Needless to say, once more services are added to Revuto’s roster, we will see an even bigger market for subscriptions being sold via NFTs.