Revuto is changing the perception of NFTs by adding real-world utility in the shape of a lifetime subscription to Netflix and Spotify
That’s right, with Revuto’s new Revulution NFTs you’ll never need to pay for your favorite video or music streaming service ever again. Just pay once upfront and you’ll enjoy full, uninterrupted access for as long as you live – or until you decide you want to sell it.
Revuto can make this unusual offer because it has come up with one really cracking innovation that promises to revolutionize the way people pay for and manage their subscriptions. Using NFTs, the company has hit on the idea of tokenizing subscriptions to just about any kind of service. As well as Netflix and Spotify, its Revulution NFTs can be used to buy access to software services like Microsoft Office, a gaming service like Nvidia GeForce, a subscription to your local gym and many more besides.
It’s a big deal and it’s really clever how it works. Rather than making dozens of deals with individual subscription providers, Revuto has teamed up with Railsr, a banking service, to issue digital debit cards to each NFT holder. These cards are used to pay for whatever subscription the NFT represents.
The great thing about Revulution NFTs is that they’re incredibly flexible and also tradable. Users can go to Revuto and buy a Revulution NFT for whatever service they’re interested in, for any duration they want – a week, a month, three months or a year – and if ever they decide they no longer need it, they can sell it or give it to someone else, allowing that person to take over their subscription for the remaining period.
If someone sells a Revulution NFT, the existing virtual debit card will be canceled, with a new one issued to whoever the NFT was sold to. Then, Revuto will continue topping up that new card with just enough cash to pay for the subscription when it’s due, until such time as the subscription period ends. Once that time comes, the NFT can be disposed of by sending it to an address provided by Revuto.
It’s a wonderful idea that promises to recoup lots of money that’s wasted on unused subscriptions. As Revuto explained in its announcement, something like 50% of consumers admit to paying for a subscription that they never actually use. It’s common because people’s circumstances change all the time. You might sign up to Netflix for a year, but there’s no way to refund that subscription. Then perhaps you get married…
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