- Revuto will launch a lifetime digital subscription for Netflix (NASDAQ:NFLX) and Spotify (NYSE:SPOT) through NFTs on July 11.
- Each digital asset in the Revulution NFT collection costs $349.
- Users can share their subscriptions by selling their NFTs.
Croatian subscription management startup Revuto is set to launch a lifetime digital subscription for Netflix and Spotify through NFTs on July 11.
Dubbed Revulution NFT, the collection will be made available on Revuto’s website on July 11 at 12 pm (CET). Each unique digital asset costs $349 (USD) and can be purchased using credit and debit cards or using cryptocurrencies.
According to the information shared with CQ, once a user makes their purchase, Revuto, with banking partner Railsr (formerly Railsbank), will provide users with a digital debit card to pay for their Netflix or Spotify subscriptions.
Additionally, Revulution NFT enables trading at crypto exchanges in collaboration with Crypto.com. This feature opens a secondary digital subscription market. Once the holder sells their NFT, Revuto will deactivate their digital debit card and provide the new holder with a new virtual card to pay for the subscriptions.
Vedran Vukman, CEO and co-founder of Revuto, says that the Revulution NFT was produced to provide its 350,000 client base a “stable subscription fee” that they can easily share with their peers.
“In case they are not using the service, the users can simply get their money back or even profit from selling the NFTs,” said Vukman. “We wish to enable everyone to efficiently manage their subscriptions and, eventually, to make the digital subscription market fairer and more equitable.”
Earlier this week, the Revuto team said in a weekly update that they have been working on many developments, most notably the testing of virtual debit cards issued by Railsr on the frontend and backend and testing virtual debit cards for the UK and EU markets.
The release of Revolution is just the beginning, said Revuto co-founder Josipa Majić. “Revuto is introducing something completely new to the world of subscriptions,” added the co-founder. “[This is] something that will enable the creation of an entirely new market of prepaid unused subscriptions.”