NFT artwork ruled the market for quite some time, but a new power is emerging: NFTs with utility. Young and thirsty startup crypto company, Revuto has found an innovative way to take that interest and appeal to a mass market with NFTs that unlock exclusive subscriptions to some of the hottest streaming platforms.
The launch of Revulution NFT was announced earlier this week in collaboration with Netflix and Spotify. Lucky buyers of the limited edition NFTs can set themselves up for life on their favorite platform, enjoying other bonuses in the process. It marks an exciting new direction for non-fungible tokens in a time of rapid development for the industry.
What Is Revuto?
Revuto is an up-and-coming Croatian startup that first made a splash in 2021. The company is all about crypto-powered subscription payments and has its own digital coin: REVU tokens. It works with Cardano- a leading smart contract website with scalable capabilities.
We all have to deal with subscription payments at some point or another if we want to stay involved and up to date with the best digital services on offer, but it can get tricky to keep track of. The whole idea of Revuto is to reimagine the approach to this task, streamlining payments in one easy platform and making them easier to manage, cancel, and alter.
With this latest addition and a step across the border from crypto payment systems into the world of NFTs, Revuto is proving to be quite the innovator.
About the Launch
From midday on July 11th, 2022, Revulution NFT will be available through the Revuto platform. The limited-edition tokens will be priced at $349 a pop, with 10,000 available altogether. There are two tokens to choose from: one featuring a take on the Spotify logo and one with a version of the instantly recognizable emblem of Netflix.
Forking out $349 for an NFT version of a popular streaming platform’s logo? No thanks. Paying the same amount for the NFT and a life-long price guaranteed subscription to said streaming platform’s service? Now we are talking.
Every token purchased unlocks a pre-paid lifetime subscription to the relevant platform. If your ears are pricking up at the prospect, you are not alone. Revuto is on to something with this launch, and the pre-sale hype has people predicting a rapid sell-out.
How Will It Work?
When a person buys a Revulution NFT (which they can do using various cryptocurrencies through the Revuto payment platform or using a credit or debit card), they are allocated a digital debit card (also called a virtual debit card or VDC).
Using the VDC, the NFT owner can choose their subscription options and pay for the service, benefiting from special discounts and exclusive promotions in the process. It is essentially an idle card that does not store any money but connects users to their subscriptions quickly and easily.
Each month, the user can choose to block or allow the payment without impacting the terms of their subscriptions. If they block it, they simply skip one month of service, but their locked-in rates and benefits remain the same.
When or if someone no longer needs or wants the subscription, they can pass it along by selling their Revulution NFT and the fully supported secondary marketplace run by Revuto. Sharing these NFTs with others is part of the appeal and having the option to re-sell for profit covers people- in case they end up not using their subscription further down the line.
The Benefits of Revulution NFTs and the Attached Subscriptions
- Subscriptions set up through Revulution NFTs have fixed costs that will not increase, no matter how long they last. With all the recent price hikes plaguing Netflix users, this is certainly a huge bonus long-term.
- Users can access exclusive deals and discounts the average subscriber doesn’t get.
- You can sell the NFT to someone else at any time at any price, making the venture potentially profitable.
- Each secondary sale resets the subscription, meaning people are free to choose the setup that suits them best.
Final Thoughts
This is truly something new and something that people want. The innovative approach to using NFTs to power pre-paid, unused streaming subscriptions that are exempt from price hikes and can be transferred to others for a profit sets Revuto aside as one to watch.