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

Unique subscription-based NFT is capped at 10,000 and buyers would receive a digital debit card with the NFT to pay for their subscription. < /p> New

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 has announced that it will 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 Cointelegraph:

"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 may even be able to 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.

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 several months, due to the market's continued bearish dominance, 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.

We're launching NFTs on Facebook! Excited to share what I've been working on with the world. pic.twitter.com/TaV66zRanV

— Navdeep Singh (@navdeep_ua)