Croatian startup Web3 offers lifetime subscription to Netflix and Spotify via NFTs

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On Friday, subscription and ticketing solution provider Web3 Revuto announced a new subscription model for Netflix and Spotify, using a non-fungible token (NFT) solution.

Revuto said it would offer a lifetime digital subscription for Netflix and Spotify through its Revolution NFT. A total of 10,000 users would be eligible to get their hands on the one-time subscription model. Dino Ivankovic, business development manager at Revuto, explained how these subscription-based NFTs could become an ecosystem in their own right. He told TAUT:

“We aim to give more control to the end user. NFT technology will allow users to monetize their unused subscriptions by sending or selling them to others who will use them. Users might even be able to rent it in the future.”

These subscription NFTs can also be traded on crypto exchanges, allowing for the growth of a secondary market for these types of NFTs. Once the NFT changes hands, the former user’s digital debit card would be canceled and the new owner would receive a new debit card. Revolution NFT.

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Revuto plans to introduce more subscription-based services through its NFT solutions and end unwanted subscription fees.

Related: Beyond Collectibles: How NFTs Are Reshaping the Ticketing Industry

While the NFT market has seen a steady decline in trading volume over the past few months, due to the continued bearish dominance of the market, innovation continues to see new growth in the industry. Meta, Facebook’s parent company, recently announced that it will soon be introducing NFTs to its social media platforms.

NFTS became a rage during the bull market peak of 2021, starting with digital collectibles and later expanding to GameFi and metaverse ecosystems. Since Friday, NFTs have impacted several industries such as art, music, advertising, ticketing, real estate and many more.

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