The sale will begin on July 11th, at 12 PM CET.
Revuto, a Croatian-based Web3 subscription provider, has recently announced that it would be offering a lifetime membership to Netflix and Spotify, by using a non-fungible token (NFT) solution.
According to the official announcement issued on July 8th, around 10k users will have access to the subscription model, dubbed Revolution NFT, and will be able to acquire lifelong digital subscriptions to both platforms, with the possibility of making a profit as well.
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On top of that, Revuto will be working with Railsr, a financial technology firm that offers digital banking services, in order to provide users with a brand new debit card after they purchase the subscription NFT.
The main idea behind the initiative is that users will be able to freely unsubscribe from the platforms or pause their subscriptions. Revuto noted that users can buy, trade, and sell the NFTs on a number of trading platforms. If a user decides to sell the NFT, Revuto will terminate their digital debit card and give a new one to the current user.
Dino Ivankovic, the business development head of Revuto, has mentioned that the future of Revolution NFTs is bright, as users will have the opportunity to form their own ecosystems in the upcoming years.
He also implied that one of Revuto’s primary goals is to provide more power to the end-user. This means that customers won't be obligated to keep a Netflix or Spotify account if they don't want to. The startup is working towards removing any restrictions or obligations that similar platforms impose. Ivankovic added:
“NFT technology will allow users to monetize their unused subscriptions by sending or selling them to others who will be using them. Users might be able to even rent it in the future.”
According to Revuto’s official website, the NFTs will be up for sale on July 11th, at 12 PM CET.
It seems as though the current crypto bear market and the recent NFT market drop in trading volume haven't stopped numerous organizations from launching NFT-based initiatives. For instance, earlier this year, Facebook parent firm dubbed Meta announced that it would be rolling out NFTs for US creators on Facebook.
