Croatian startup Revuto launched its blockchain-powered subscription management platform, Revuto dApp (decentralized application) – the first decentralized application built on the Cardano blockchain.
The Revuto dApp is designed to empower consumers to exert greater control over their subscriptions and save money by managing everything from a unified platform.
The Revuto dApp is an end-to-end subscription management platform where consumers can add all their existing subscriptions like Hulu, Spotify, Netflix, Amazon Prime, Shopify, and many more.
The dApp provides real-time notifications and in-depth spend analytics to give consumers a clearer picture of their subscriptions and the related recurring expenses. With the Revuto dApp, end-users can add Virtual Debit Cards (VDCs) for each subscription and approve, reject, and even snooze their subscriptions.
Further expanding its services, the Revuto team has introduced another promising feature that allows consumers to choose lifetime 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 (monetize) 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 to represent art is frequently criticized as overpriced and lacking utility, a wave of new projects and startups are redefining the concept of NFTs, moving them beyond the frontiers of digital art and collectibles.
Take, for instance, the use of NFTs to streamline subscription-based services. As the mainstream subscription economy continues to expand its footprint, so is the demand for robust solutions that enable consumers to manage their subscriptions and payments.
In general, consumers spend a lot of time trying to manage their subscriptions better. From free trials to unnecessarily complicated cancellation processes, the Web2 subscription economy can make it difficult for the average consumer to keep a better tab on their subscriptions and payments. As a result, consumers often end up paying for subscriptions that weren’t 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 their friends or family members in a simple and straightforward way. Moreover, in case they are not using the service, the users can simply get their money back or even profit from selling the NFTs.”
Revulution NFTs are Now Available
Launched on July 11, a limited edition of Revulution NFTs for 10,000 users are 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, enabling users to pay for their subscriptions using cryptocurrencies.
Additionally, these NFTs are tradeable on crypto exchanges and secondary NFT marketplaces, giving users an additional option to monetize their unused subscriptions.
When a consumer buys the Revulution NFT for a specific service, it is deposited into the user’s Revuto wallet. The user is provided with the Revuto Virtual Debit Card (VDC) to subscribe to the service.
If the user sells their NFT, the ownership is transferred to the new user within the Revuto dApp. Accordingly, the old VDC linked to the original user gets deactivated, and a new VDC is created for the new owner of the Revulution NFT.
To make things more attractive for users, Revuto will also introduce a password management feature for its NFTs and VDCs, allowing users to seamlessly store and share their passwords with their friends and family.
Josipa Majić, co-founder of Revuto, explains, “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.
“Also, by using this particular innovation, the users will get discounts when selecting their subscriptions, coupled with the possibility of either gifting or selling them to other users.”
