The next generation of Crypto-Cards is coming

Revuto is a project dedicated to changing the way subscription services are managed by those who use them and, more importantly, by those who pay for them. Our goal is to reinvent these products and help people not only save money on their subscriptions but also earn money at the same time. In that regard, the Revulution NFT campaign launched earlier this summer is just one of many steps to make effective subscription management a reality.

In addition to the opportunity to secure a free subscription to Netflix or Spotify for life by purchasing our Revulution NFTs, the other product line released during the Revulution NFT campaign was Card NFTs, which is your key to the next-generation of physical cards supporting crypto.

The Revuto team invested tremendous effort to make Card NFTs special at the same level as other Revuto products, but let’s start by explaining what “Pre-order by NFT” means.

https://www.youtube.com/watch?v=rjdPtwhHVIE

Pre-Order by NFT

Revuto came up with quite a unique setup for those interested in pre-ordering their physical crypto cards. Pre-orders can be made only by purchasing Card NFTs; once purchased, those NFTs can be sent or sold to others before eligible users get their physical crypto card at their physical address. More about how and when cards will be sent to the user’s home address is explained later in the text.

Revucards — credit cards supporting crypto

As mentioned above, the Revuto team spent lots of time and effort on once again creating a product that will be something completely new on the market. In this case, it is the next generation crypto-backed card, offering both debit and credit card features that people can use to make online or offline purchases around the world.

The card is in a way a hybrid version of debit and credit card with the product again focused on helping people squeeze the most out of the funds they have. In offering two types of credit supported by Revucard, we decided to emphasize the credit card functionality of the card.

A debit card

We know that there are already several debit cards that support crypto on the market. Companies like Crypto.com, Nexo, Baanx, and Reef, as the latest examples, already offer this. Still, they all offer the same capabilities of topping up debit cards with popular crypto so people can use them to make purchases or withdraw money at ATMs worldwide. So what’s special about Revucards when it comes to supporting crypto? Unlike these others, Revuto is the first to allow users to top up their cards with Cardano native tokens. As a product building on Cardano with the intent to help the Cardano ecosystem grow, we believe our task is to support other Cardano projects and their tokens with our products. Through the R Fund, the Revuto wallet, and, most importantly, the Revuto Staking Center, we have already paved the way for supporting other Cardano projects and their tokens. Now it is our turn to do the same with our physical crypto-backed cards.

To be clear, alongside supporting ADA, REVU, and later Cardano Native Tokens from Cardano projects we’ve partnered with, Revucards will support other popular crypto assets like BTC, BCH, ETH, USDT, and USDC. To show you how competitive our card product is, we’ll share more info about crypto top-up fees and who our partner for the crypto-to-fiat offramp is in the upcoming weeks. As always, you can bet that Revuto will do everything to offer you the most competitive crypto-card product when it comes to fees, spending limits, withdrawal limits, and cashback.

Lastly, but not less interestingly, all Revucrads will support direct top-up with users’ debit or credit cards stored within the Revuto app. The setup is unique because it offers the same additional layer of security and privacy as when making purchases with Revuto Virtual Debit Cards.

A credit card

This is where things become more interesting. Revuto is proud to be the first company to offer a unique crypto-backed credit card within the Cardano ecosystem and the whole crypto market. This is possible because Revucards support two types of credit lines.

Uncollaterilized and collateralized credit

The “Buy now, pay later” option is something that’s already heavily adopted within the traditional financial ecosystem, and it is something that’s helping many people to maximize their cash flow potential when it comes to making purchases with cards issued by traditional banks. Regarding the crypto ecosystem, Revuto will be the first to offer the “Buy now, pay later” option using the same internal credit scoring mechanism and liquidity-providing setup for the uncollateralized “micro-lending & borrowing feature” used for paying subscriptions with Revuto virtual debit cards.

The setup is unique because it will allow credit limits that do not require any kind of collateral or proof of income. With the “micro-lending & borrowing” feature, Revuto will use a proprietary credit scoring mechanism to decide who’s eligible for this credit and what their credit limit will be. We already discussed how Revuto can do this in other blog posts but let’s refresh your memory. Revuto’s CTO Marko Rukonic has vast experience using AI (machine learning) to develop internal credit scoring systems based on classifying user financial transactions within short periods. Marko was one of the guys who developed a credit scoring system for Intuit, outperforming US official FICO credit scoring. The same credit scoring system was later used by Kredit Carma when acquired by Intuit. We believe Markos’ experience and 27 peer-reviewed patents in financial transactions classification and credit scoring speak for themselves.

Collateralized loans

Simply put, the credit limit for those loans is based on the amount of funds staked within the Revuto Staking Center. The exact correlation between the user’s funds locked within the Revuto Staking Center and the allowed credit amount will be determined once the setup is fully developed. Although the staking center was never our main focus, we must say that above any expectation, we’re amazed that the staking center’s present TVL is above 3 million USD. Still, as it’s becoming more obvious that users believe in Revuto enough to stake so many of their funds with us, we decided to return the favor. Revuto will offer credit to those who have their funds staked with us which can be used for making purchases or ATM withdrawals with their Revucards.

Revucards — Premium or Metal?

Much effort has gone into planning both the physical design of these cards as well as the features and options that come with them. As a result of tremendous efforts by the Revuto team to offer the best card product, people can choose what kind of card they want to purchase — Premium or Metal. Please note that availability is limited to 8.000 for Premium Cards and 2.000 for Metal Cards. In short, a limited number of Card NFTs are your ticket for early access to Revuto Physical Cards, offering uncollateralized and collateralized crypto-loans supporting Cardano native tokens and cashback in REVU. On top of everything, the unique card design featured is something that won’t be offered in this form again.

The Card NFT offer will remain available until we sell all 10,000 Card NFTs via the Revuto.com/nft webpage, the Revuto App (Staking Center), and selected NFT marketplaces on Ethereum and Cardano. Later in 2023, we will ship Revucards that will offer the same functionalities but without the premium look and feel offered with NFT Cards.

Premium Card NFT

A short overview of Card NFT features:

- unique semi-transparent card design

- early access to Revucards (shipping in early 2023)

- everybody can buy and sell, but UK and EU (except Malta) citizens are eligible for the card

- must be a Revuto Premium user to unlock the card

- 2% cashback in REVU on every purchase

- “Buy now, pay later” option

- higher credit allowance based on the total amount staked within the Revuto Staking Center

- eligible to participate in the Revolution NFT lotteries to win prizes

- a limited number of 8000 cards

The price per NFT is $39

Metal Card:

A short overview of Card NFT features:

- unique metal card design

- early access to Revucards (shipping in early 2023)

- everybody can buy and sell, but UK and EU (except Malta) citizens are eligible for the card

- must be a Revuto Premium user to unlock the card

- 2% cashback in REVU on every purchase

- optional 4% cashback in REVU on every purchase (stake min 3000 EUR in REVU for 12M)

- “Buy now, pay later” option

- higher credit allowance based on the total amount staked within the Revuto Staking Center

- eligible to participate in the Revolution NFT lotteries to win prizes

- a limited number of 2000 cards

The price per NFT is $79

Expected shipping date

Premium and Metal cards from Revuto are scheduled for release in early 2023. Both cards will start shipping to Card NFT owners before basic Revuto Physical Debit Cards (PDCs). Those are scheduled for shipment later in 2023. Remember that being a Premium or Metal Revucard holder gives you a special status among Revuto card holders as we’ll be shipping only a limited number of those unique physical cards.

Powered by Mastercard, Railsr/ParyNet

Our cards will bear the Mastercard logo and be issued by Railsr/PayrNet. It’s taken us a year to go through all of the required compliance and AML checks with the Bank of Lithuania to be in a position to offer you Revucards. Revuto secured an EMI (Electronic Money Institution) license from the Bank of Lithuania (https://www.lb.lt/en/sfi-financial-market-participants/revuto-ou) to be legally compliant in offering such advanced card products.

Your Money, Your Spending, Your Choice

We are all well into the 21st century, which means that debit and credit card users have become accustomed to contactless payment. What being said, we are pleased to announce that Revucards will support Apple Pay.

Cards will be managed exclusively within the Revuto app, where you can track your expenses, get a detailed and analytical overview (conscious spending) of your card activity, and check card details such as PIN and CVC numbers, spending limits, and other advanced features. As Revuto is always working on new features, you can be sure that more cool options will be waiting for you in the future.

What to do with NFTs?

Premium and Metal Card NFTs owners are allowed to resell or send their NFTs to others regardless of their citizenship, but only those from EEA (eurozone) who send their NFT to the specific Cardano address provided later in the year (or until we sell all 10K Card NFTs) will get their Revucard delivered to their home address.

Be sure to secure your Card NFT at www.revuto.com/nft