Dear NMKR community,
We are sure you have heard about the revolutionizing startup Revuto, that's shaking up the world regarding how a digital subscription model is working. In September 2022, they stealth-launched an NFT collection with NMKR, giving holders lifetime access to Netflix or Spotify at a fixed rate of US $349 per piece. Holders of these NFTs can trade on secondary markets or even rent them out.
Vedran Vukman, CEO of Revuto is our guest this time. Let's take a look at his perspective on how he built his project on Cardano and where he sees the market going.
NMKR: What inspired you to start developing Revuto? Please tell us what makes it so special.
Vedran: The whole story of building Revuto started with my experience (problems) with managing my subscriptions. With my last startup, I had problems paying for too many tools I used to run my business every month. In short, I lost track of to whom, with what, when, and how much I was paying. Also, not once would it happen that I would get charged for the free trial that I forgot to unsubscribe from and for service I was not using anymore, but again, forgot to unsubscribe from. In the end, I figured out that I was regularly losing money on my subscriptions and that there was no app that could help me manage multiple subscriptions and their payments in the way I needed.
Being involved with crypto and knowing how good it would be to help people leverage subscription payments with crypto and DeFi setups to save money or even earn money, I had no choice but to build such a product by myself. In short sentences, Revuto is an ecosystem of products removing the friction between crypto liquidity and real-world economic activities (RealFi), specifically subscription payments. Our goal is to create a real impact in the real world by saving people's money on their subscriptions while offering cheaper credit/ financial products supporting crypto and Defi.
NMKR: What are the major challenges you're facing right now? We would like to know about your team's plans to overcome them.
Vedran: That’s a good question to which there’s no simple answer because new challenges are arising daily. The product is complex because it’s a mixture of regulated fintech products (issuing debit cards) and crypto products (staking, Defi, NFTs…) combined in a single mobile app. Also, never seen before, tailor-made features are developed to help people solve specific problems with subscription payments. Still, and I’ll be honest about it, being dependent on the crypto market, the major challenge would be how to survive a bear market. In that regard, we had to make adjustments to prevent unnecessary expenses when it comes to new hiring, marketing, product development, and the roadmap in general.
NMKR: What are you doing to get people to use or invest in your project? Please share some thoughts about your growth strategy.
Vedran: Our main growth strategy is to focus on building a product that will solve many people's problems. That’s why the app is not built for crypto-savvy people only but for people who didn't necessarily have contact with crypto in the past. The goal is to invite them to the world of crypto through simple UX and cost-saving features, helping them with something they can easily correlate with (subscription payments). We believe our approach should work very well for the mass adoption of crypto. Still, regarding the specific growth strategy, I need to emphasize our Referral Program, which played a big part in the success of our ICO and later user acquisition. With the Referral Program, we incentivize people to bring more people (their friends) to Revuto because they will profit from it on many levels.
NMKR: What do you think about NMKR? Tell us what we can do for you in the long run, so we both win!
Vedran: NMKR is a great service we’re already benefiting from because NFTs are a very important part of our ecosystem, especially paired with the virtual debit cards we’re issuing to our users. Although we’re offering several different NFTs to our users, which all bring different utilities to their owners in the Revuto app, the focus is on promoting Subscription NFTs, which will allow people to subscribe (prepay) to any service for the subscription period of their choice and sell (monetize) unused subscription periods.
What you can do more to help us? Revuto wallet is a Cardano light wallet, but it’s specific because we build it into the native mobile apps (iOS and Android) that can’t connect to web-based dApps the way web-based wallets can. Because Revuto UX/CX needs to be very simple, we’re oriented to building a mobile-only app that has a problem with connecting with existing on-chain services (dApps). Moving towards custodial services could help overcome such problems, and that’s where we see an opportunity for services like NMKR.
NMKR: What's your vision for the future of blockchain/decentralized technologies like Cardano? Please tell us what you're doing to make that future a reality.
Vedran: We choose to build Revuto on Cardano because we love the approach of building secure crypto products on the blockchain, which is different from what others are trying to do. Also, our goal to bring crypto to the masses by offering a simple product that solves a real-world problem to help people save their money is aligned with what Cardano is trying to do. Especially when talking about the use case of helping people in Africa. Those (both) are real-world problems we’re trying to solve.
NMKR: If our readers want to get in touch with you, where can they find you?
Vedran: The best is to follow me on Twitter (@v_vukman), where I regularly answer questions from our supporters and others interested in what we do. If not Twitter, there’s Linkedin, Telegram, Discord, and even my email, which is not hard to find, but please, when reaching out, be respectful of my time, introduce yourself and explain why you contacted me. Thank you.
NMKR: Solving real-world problems is necessary for blockchain technology to succeed. We see a future where people use blockchain technology without knowing it. Since we are quite well aligned in our objectives, we sure will find areas to cooperate and bring tangible value to users. There is a lot of market potential to introduce a new product line with even more interesting use cases. We are grateful for your time.