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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 expertise – subscription funds are a giant deal!
Full Story
The 12 months 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 incorrect with that depiction?
In the event you answered: Juicy Couture won’t ever make a comeback, and there is no such factor as a subscription NFT – you are incorrect 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.
This is how the latter works:
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.
Permit customers to increase their subscription NFT’s utility, by buying an extension.
Is it floor breaking? Completely not.
We have already got a reasonably sturdy 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 expertise – subscription funds are a giant deal!
‘Crypto’ as we all know it at this time, 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 individual, group, entity, or authorities.
And recreating a ‘system outdoors of the system,’ means having subscription funds!
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