Brazilian startup develops NFT solution capable of avoiding sharing Netflix passwords

“The idea is to make people more cautious. You will no longer be able to share access information, since anyone can use your NFT, and, signing with the private key, carry out a transaction in your name, for example”, says startup partner João Henrique Costa.

According to the startup, this blockchain use case, which is expected to hit the market in September,  it opens up other possibilities for business models, such as the guarantee of privacy and security with data encryption and even the anticipation of revenues through smart contracts, without the intermediation of banks or investors.

 

“Today, if a business needs cash flow, it has to resort to banks and traditional forms of investment. With this technology applied to smart contracts, that same company can anticipate from 2% to 28% of its own future subscription revenues. As subscriptions are elastic goods, it is possible, then, to lower the price to attract more members and obtain more revenue during a certain period of time”, completes  Antonio Hoffert.

Despite the blockchain solution, a solution that supports cryptocurrencies, Netflix seems unfriendly to crypto assets when it comes to advertising. According to a report by the Sydney Morning Herald, the streaming giant would have banned cryptocurrency commercials, politics and gambling in its ad-supported subscription version, as per  reported Cointelegraph .