With news of the Cardano blockchain reaching Alonzo white, and Charles Hoskinson signaling smart contracts coming of by the end of the August or early September, things are about to get spicy for Cardano. No longer can Cardano be labeled as a ghost chain. Smart contracts will open up the doors for projects to be able to transact with their tokens on the Cardano blockchain- bringing with it new utility for coins, and financial opportunities for the Cardano faithful, as well as anyone who wants to wander over from their favorite chain to give it a try.
Recently, I wrote a few articles about one of these projects called Revuto, it's ambitions of changing how the paid subscription market works, and their plans for an integrated NFT marketplace on their soon to be released app. In case you haven't heard of it yet, here is a brief overview:
Revuto lets you manage and pay for your subscriptions to Netflix, Spotify, Apple TV, Linkedin and others using ADA or other Cardano native assets, and earn REVU tokens as a reward.
With Revuto certainly benefiting from the introduction of smart contracts, and being the first company to ave a functioning dapp on the cardano blockchain, I'd like to share a few important updates on the project and it's program to earn rewards, plus a few thoughts on its progress over the last few months.
Revuto App released for IOS and Android
Revuto has released V1 of their app for download on both the Apple apps store and the Google play store. V1 of the app is pretty basic, with limited functionality at the moment, although there are plans to fully integrate an NFT marketplace and their subscription management service alongside these features in the coming weeks, with September as a target date for full functionality. Given the insane popularity of NFT's, and the fact it is going to be among the first apps launched on Cardano, this might be a good platform to keep an eye on if you are in to NFT's and have not heard of it yet. Also in the coming weeks, Revuto wallet will go live in the app, allowing users to store REVU and other cardano assets.
In its current V1 form, the app allows you to verify your account to claim your REVU tokens earned for signing up for early access to the app or participating in the early access referral program, see the balance of REVU you've earned, and share your referral link with friends. Users have to verify their account now to receive any REVU tokens earned for signing up for early access due to what Revuto described as abuses of the system to reap rewards.
A new transparent referral program with lifetime earnings.
The early access referral program has unfortunately come to a close. I'm not going to lie, Revuto's old referral program was great- receiving 10 REVU for signing up with just an email, and an additional 10 for every person who signed up using your link. It was a fantastic opportunity for users to invite friends and family members to use the app at no cost to them, and earn some crypto from a company that saw 2.4 million million new Cardano wallets created by it's early access program, which is the biggest community on Cardano.
Due to the sheer amount of early access sign-ups, Revuto has announced a new referral program that is only open to those who were already signed up for early access and those who invested in Revuto's token sale. The new system works as follows
This also means that only existing app users (early sign-ups and token sale investors) will be able to share referral codes and invite new users. The reward that can be earned for each successful referral will be reduced from 10 to 5 REVU. To qualify, the user who joins via your referral code should sign up for at least one subscription using Revuto.
When that occurs, 6% of the revenue generated by Revuto from that user will be directed your way. In addition, you’ll earn cashback on other purchases, such as when a referral signs up for Revuto Pro.
So for those of you that already signed up for early access, there's still an opportunity to not only earn 5 tokens for someone signing up with your generated link, but the possibility to earn future passive income through your referred users transactions, or from staking REVU. If you have not downloaded the app yet, you can click the picture below to explore or download it if you are on mobile, but note that only existing members of the early access wait list or referral program will be able to access it at this point.
Conclusion and thoughts
I've been pretty straight-forward about my thoughts on Revuto in every article that I've written about them. I love everything about Revuto from their concept to their marketing, and especially their backers IOHK. A subscription management service where you earn crypto-back, with an NFT marketplace and exchange, and whose coins can be traded, staked, or used to govern the protocol. Eventually, after earning enough REVU to stake from paying for those subscriptions, my Netflix, Spotify,Twitch Prime, PlayStation Now, LinkedIn Premium, etc will pay for themselves every month. I believe that Revuto is going to surprise a lot of people when it officially launches to the public, and the subsequent years that follow. 2.4 million people thus far have registered for early access, and an additional 1.9 million people have already downloaded the app, and I can only see that growing as time goes on. Revuto has a use case with a wide reach, and I expect that it will eventually capture the attention of wide range of crypto-savvy customers, as well as people who have never used crypto before.