Subscription services are gradually becoming a part of the normal internet user; over the past two years, this industry has grown by a magnitude as more people subscribed to digital services such as Netflix and Spotify. That said, the process is not as smooth as it should be, most of the existing subscription packages often limit consumers to monthly or annual packages. What if one wishes to buy a lifelong subscription or opt out before the expiry period?
Revuto’s recently launched NFT collection ‘Revulution’ might just be the much needed solution to these shortcomings. Unlike the pioneer crypto assets, NFTs present a tangible solution in linking off-chain products to the decentralized economy. With Revulution NFTs now in the market, it will be possible for Netflix and Spotify users to buy lifelong subscriptions in the form of an on-chain asset (the NFTs will give owners access to their active subscriptions).
A New Dawn for the Subscription Economy
Before jumping into the details of the Revulution NFT collection, it is noteworthy that Revuto’s application has been a major game changer in the management of subscription services. This app allows users to block, snooze or approve subscription services through the Revuto Virtual Debit Card; all this within a single platform. Nowadays, Revuto enjoys over 350,000 active users, with the number set to grow following its latest initiative – Revulution NFTs.
So, how is the Revulution NFT collection going to change life for digital service consumers? As mentioned earlier, this unique digital asset collection is designed to enable Netflix and Spotify users to purchase lifelong subscriptions that can also be sold in secondary markets. Revuto will allocate a Virtual Debit Card (VDC) to each NFT; the VDCs will be topped up by Revuto up to when a particular subscription period expires.
Notably, Revulution NFT owners will also have the option of selling their subscriptions if they wish to stop using Netflix or Spotify. In this case, Revuto will assign a new VDC, enabling the new owner to continue using the remaining subscription service. While the idea is relatively new to the subscription economy, the firm’s Co-Founder Josipa Majić noted that is just but the beginning,
?“Our Revulution NFT for Netflix or Spotify is just the start, and also an introduction to the subscription NFTs that people will be able to use to pay for any subscription in the world, for however long they want. With such a unique approach, Revuto is introducing something completely new to the world of subscriptions, something that will enable the creation of an entirely new market of prepaid unused subscriptions.”
With the sale currently ongoing, interested prospects can acquire a Revulution NFT through Revuto’s website. This will not only easen the access to Netflix and Spotify but expose the owners to a whole new economy; Web 3.0, also referred to as the decentralized economy. An era where global consumers will be able to generate value from unused subscription services at fair market prices.
The subscription economy has immensely benefited from the covid lockdowns, more people than ever before have turned to their screens for entertainment. However, the challenges mentioned in the introduction are a growth hurdle when it comes to user experience and lifelong value proposition.
Well, thanks to the debut of innovative technologies such as the Revulution NFT collection, consumers will now have the option of purchasing subscriptions that can be used for longer or shorter periods. Even better, the introduction of secondary markets will make it seamless for a user to liquidate a subscription they no longer intend to use.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
Known for identifying cutting edge technologies, he is currently a Co-Founder of a startup and fundraiser for high potential early-stage companies. He is the Head of Research for Allocations for deep technology investments and an Angel Investor at Space Angels.
A frequent speaker at corporations, he has been a TEDx speaker, a Singularity University speaker and guest at numerous interviews for radio and podcasts. He is open to public speaking and advising engagements.