On Friday, Web3 subscription and ticketing solution provider Revuto announced a new subscription model for Netflix and Spotify that uses a nonfungible token (NFT) solution.

Revuto said that its Revolution NFT would let people sign up for Netflix and Spotify digitally for life. The unique subscription model would be available to a total of 10,000 users. Dino Ivankovic, who is in charge of business development at Revuto, explained how these NFTs that are based on subscriptions could form their own ecosystem. He said to the Cointelegraph:

“We want to give more power to the person using the service. With NFT technology, users will be able to make money from subscriptions they don’t use by sending or selling them to people who will use them. In the future, people might even be able to rent it.”

These subscription NFTs can also be traded on crypto exchanges. This lets a secondary market for these subscription NFTs grow. Once the NFT is sold, the old user’s digital debit card would be cancelled and a new debit card would be given to the new owner.

Revuto wants to get rid of unwanted subscription charges and add more subscription-based services through its NFT solutions.

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