Everything Must be Turned Into NFTs! Even a Lifetime Netflix Subscription
Despite the looming economic crisis, a lot of people are still asking how and where to buy NFTs. Nowadays, everything can be tokenized, even a lifetime subscription to Netflix and Spotify - a seemingly weird idea realized by a Croatian blockchain company.
Table of contents:
- Buy the NFT to binge-watch Netflix for the rest of your life
- Trading subscriptions, a concept both confusing and interesting
Buy the NFT to binge-watch Netflix for the rest of your life
After the initial astounding success of NFTs, which subsided significantly with the start of the bear market, the community must have got an idea that it’s possible (and necessary) to tokenize everything. How about a subscription to your favorite Netflix and Spotify? Seems weird, but the Croatian blockchain company Revuto confirmed that it’s possible. The firm itself specializes in online subscription and ticketing solutions, so as odd as it seems, this initiative actually fits into their profile.
Revuto announced the launch of a collection which consists of 10,000 NFTs dubbed ‘Revolution’ that grants a lifetime digital subscription for the said streaming platforms. Each holder of such a non-fungible token is also made eligible for an exclusive debit card issued by Revuto that must be used to pay for the actual subscription.
Trading subscriptions, a concept both confusing and interesting
Turning an online subscription into a token might seem redundant (and silly) at first, but the Revuto team seems to have filled this concept with some substance. Turns out that the owners of these NFTs can trade them on designated marketplaces and crypto exchanges, thus creating a secondary market for this so-called commodity.
If the token is being sold, the debit card of the initial owner gets canceled, while the new holder would have to apply for a separate one. Apparently, this scheme will benefit the end-user by allowing him or her to avoid paying extra subscription fees. Dino Ivankovic, who’s in charge of business development, explains:
‘NFT technology will allow users to monetize their unused subscriptions by sending or selling them to others. Users might be able to even rent them in the future.’
Basically, it means that if someone who doesn’t have the subscription but wants to ‘Netflix and chill’ (not in the meme-ish sense) but only for one evening, or enjoy some music on Spotify, he/she could rent say a Premium account for a few bucks. Sounds good to me, but I wonder if Netflix's legal team would have something to say about this business endeavor.