Reshab AgarwalRevuto will be offering lifetime membership to Netflix and Spotify via NFTs. Users can buy and trade the NFTs on exchanges and other platforms as well. And when the NFT is sold to someone else, they will get a new debit card, and the old user’s debit card will be terminated.
More about the lifetime subscription of Netflix and Spotify
Revuto is using NFT technology to offer users this option, and it’s calling it the Revolution NFT. There are options for 10,000 users to subscribe to this, and they can then buy, sell and trade the NFT on different platforms. The business development head of Revuto, Dino Ikankovic, seemed to be quite optimistic about the future of Revolution NFTs. He also thinks they will be able to form their own ecosystem.
Image Source: Invezz
Dino said that they want users to get more power using their new service. Once someone buys a subscription for a lifetime, they can use it however they want, but if they want to, it can be sold on exchanges. This way, those who don’t use their Netflix and Spotify subscriptions can sell them and make money. He also added that they would also bring a rent option which would be game-changing.
The real-world use of Revolution NFTs
The goal of Revolut is to change how the subscription industry works and how users can gain control over their subscriptions with a single app. Users should be able to pause their subscriptions, unsubscribe easily or even get protection from charges after free trials. The use of Revolution NFTs allows just that. Users who buy the NFT will be able to use it to use the subscriptions. At the same time, they will also be able to sell the NFT when they don’t need it.
The idea behind this is simple. Let’s say Netflix offers a 20% discount when you buy a subscription for a year. Now let’s say you need it only for a month; in that case, if the subscription itself is an NFT, it can be sold to someone else after 1 month for the remaining value of the same.
What are your thoughts on the lifetime membership of Netflix and Spotify offered by Revuto? And do you think the idea behind it makes sense? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.