‘NFTs as Subscriptions’ Is a Thing Now

TL;DR

• Subscription companies can now use the ‘Subscription Token Protocol’ to: Promote an NFT that grants entry to their merchandise/companies for a set period of time; and permit customers to increase their subscription NFT’s utility, by buying an extension.

• For the broader mission of cryptocurrency and blockchain know-how – subscription funds are an enormous deal!

Full Story

The yr is 2032.

You are sitting in your sofa, dressed head to toe in bedazzled Juicy Couture sweats (JC made a comeback, baaaby!)…

You have not paid your Netflix subscription, so that you name your mother and ask her to ship you her subscription NFT.

What’s improper with that depiction?

Should you answered: Juicy Couture won’t ever make a comeback, and there isn’t any such factor as a subscription NFT – you are improper on each counts!

Juicy Couture has already made a comeback in 2023 (ask Chevy, he’ll inform ya!), and subscription NFTs are a factor now.

Here is how the latter works:

Subscription companies can now use the ‘Subscription Token Protocol’ to…

1. Promote an NFT that grants entry to their merchandise/companies for a set period of time.

2. Permit customers to increase their subscription NFT’s utility, by buying an extension.

Is it floor breaking? Completely not.

We have already got a fairly strong methodology of charging for subscriptions outdoors of the crypto area (anybody with a Stripe account can do it).

However for the broader mission of cryptocurrency and blockchain know-how – subscription funds are an enormous deal!

‘Crypto’ as we all know it immediately, is an try and create a banking and funds community, that exists outdoors of the present system – one which is not owned or managed by anybody particular person, group, entity, or authorities.

And recreating a ‘system outdoors of the system,’ means having subscription funds!