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Croatian Web3 startup offers innovative NFT subscriptions for Netflix and Spotify

 


On Friday, the Croatian ticket provider Revuto presented a new subscription model for the two popular streaming platforms Netflix and Spotify, based on non-fungible tokens (NFT).


As Revuto explains, the Web3 service provider offers lifetime memberships for Netflix and Spotify through its Revolution NFT. A total of up to 10,000 users can access the innovative subscription model. Dino Ivanković, Revuto's Director of Business Development, tells Cointelegraph that NFT-based subscriptions could become a whole new trend in the future:


“We want to give end users more control again. NFT technology allows users to monetize their unused subscriptions by reselling them to others who can use them. In the future, these could even be rented out.”

Accordingly, the subscription NFTs could also be traded on crypto markets, which could create an additional secondary market for the new type of NFTs. As the NFT moves from one user to the next, the burden would also be transferred from the previous owner to the new one.


In the future, Revuto wants to introduce even more subscription models via NFT and thus put an end to the waste of existing subscriptions.


Although the NFT market has lost a noticeable amount of trading volume in recent months, which is mainly due to the ongoing bear market in the entire crypto industry, the innovation friends of the sector are not letting up. Accordingly, even the Facebook group Meta soon wants to introduce NFTs in its own social network.

Especially during the peak phase of the 2021 bull market, NFTs became a big hype. Since then, the nun-fungible tokens have expanded into many different areas, including music, gaming, ticketing, real estate, etc.

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