FanAnywhere introduces a platform – YOFT, to trade subscriptions on the blockchain

There is no denying that the subscription economy has exploded in recent years, especially since the COVID pandemic began. From OTT platforms like Disney+, Apple+, and Amazon Prime to music streaming and fitness centers and wellness clubs to physical products like pet food, personal grooming, and transportation, we have a subscription for anything and everything out there.

FanAnywhere has launched a new platform – YOFT, aimed at solving a major problem in the subscription industry by making unused subscriptions tradeable using the blockchain. 

According to the CEO, Varun Choudhary, “YOFT was created to leverage the power of blockchain and help bands launch their subscriptions and membership plans wrapped as an NFT that empowers subscribers to have complete ownership of their subscriptions”. 

Every subscription model is financially attractive for long-term commitments but due to uncertainty, most of the subscribers opt for monthly or short-term plans and end up paying more. The brands also have to constantly work towards retaining the subscriber and spend extra to deal with cancellations.

“YOFT provides a win-win situation for both the subscriber and the brand,” said Amit Kumar, Co-founder, and the CTO of YOFT. Amit further said that “With YOFT, brands do not need to deal with cancellations, and subscribers can trade their subscriptions whenever they want. YOFT will also introduce subscription rentals next year”. 

YOFT has already onboarded several brands from the sports, private aviation, fitness & wellness space.

About YOFT

YOFT is a product of FanAnywhere, an NFT infrastructure company that provides a domain-agnostic no-code platform for brands to leverage Blockchain technology in their transition to the #Web3 ecosystem and engage with their audience like never before. Its best-in-class infrastructure platform allows brands to choose the appropriate solutions for creating and launching their NFTs in their ecosystem, solving the challenge of analyzing the best options. FanAnywhere aims to bring real-world utilities to brand NFTs and facilitate the smooth onboarding of the next generation of web3 users.

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