Revuto extends the NFT tool to consumer-centric models via subscriptions

by James · July 13, 2022

Croatian startup Revuto launched its blockchain-driven subscription management platform, Revuto dApp (decentralized application) – the first decentralized application built on the Cardano blockchain.

Revuto dApp is designed to enable consumers to exercise greater control over their subscriptions and save money by managing everything from a single platform.

Revuto dApp is an end-to-end subscription management platform where consumers can add all their existing subscriptions such as Hulu, Spotify, Netflix, Amazon Prime, Shopify and many more.

dApp provides real-time alerts and in-depth analysis of consumption to give consumers a clearer picture of their subscriptions and the related recurring expenses. With Revuto dApp, end users can add virtual debit cards (VDCs) to each subscription and approve, reject and even snooze their subscriptions.

The Revuto team further expands its services, introducing another promising feature that lets consumers choose lifelong digital subscriptions to Netflix (NFLX) and Spotify (SPOT) via its Revulution NFTs. With this new breed of NFTs, consumers get the flexibility to share or sell (make money on) their unused subscriptions to other interested parties.

The problem Revuto dApp is trying to solve

Although the initial use of non-fungible tokens (NFTs) as a means of representing art is often criticized as overpriced and useless, a wave of new projects and startups redefines the concept of NFTs, moving them beyond borders for digital art and collectibles.

Take, for example, the use of NFTs to streamline subscription-based services. As the regular subscription economy continues to expand its footprint, so does the demand for robust solutions that enable consumers to manage their subscriptions and payments.

In general, consumers spend a lot of time trying to better manage their subscriptions. From free trial versions to unnecessarily complicated cancellation processes, the Web2 subscription economy can make it difficult for the average consumer to keep a better track of their subscriptions and payments. As a result, consumers often end up paying for subscriptions that were not used for a long time or canceled.

According to Vedran Vukman, CEO and co-founder of Revuto, “Based on the feedback we received from our 350,000 active and verified users, we have decided to give the community exactly what they have asked for – a solution that guarantees a stable subscription fee that “They can share with friends or family members in a simple and straightforward way. In addition, if they do not use the service, users can simply get their money back or even make a profit by selling the NFTs.”

Revulution NFT is now available

Launched on July 11, a limited edition Revolution NFT for 10,000 users is available on Revuto’s official website, each priced at $ 349. These NFTs are built to work in coordination with Railsr (formerly Railsbank) and Crypto.com, so that users can pay for their subscriptions using cryptocurrency.

In addition, these NFTs can be traded on crypto exchanges and secondary NFT marketplaces, giving users an extra opportunity to monetize unused subscriptions.

When a consumer purchases Revulution NFT for a particular service, it is inserted into the user’s Revuto wallet. The user is equipped with a Revuto Virtual Debit Card (VDC) to subscribe to the service.

If the user sells his NFT, the ownership is transferred to the new user in Revuto dApp. Consequently, the old VDC connected to the original user is disabled, and a new VDC is created for the new owner of Revulution NFT.