The Verlux "$VLX" Token and it's Utilities
The $VLX Token is the utility token that will power the VerluxNFT Ecosystem. The token is minted on the Cardano blockchain, will be used to power transactions on the Verlux NFT Marketplace.
Purchase of NFT
Users who will wish to purchase NFT will be able to use our VLX Token to make purchase of NFTs at a discounted price.
Transaction Fees
Users can choose to pay NFT Minting fees on our platform using VLX token.
Governance
Holders of our token will be made part of the decision-making process of issues that affect our Eco system. As such only holders of our token will be given the ability to vote on necessary decision-making process that will affect our ecosystem.
It is important to note that the amount degree of votes you can give and participation in said voting process will be dependent on the amount of token you hold.
Exclusive Benefits
Top holders of our token will be given Exclusive access to special or rare and limited edition NFTs which will only be made available to the Public when Top holders have had prior access to.
Ads Slot purchase
Due to the large number of NFTs that will be on the platform, users will be able to purchase ad slots for their NFTs using $VLX Token.
Profit Sharing
Top holders will be able to benefit also on our platform by earning a fixed percentage of profits made from all the transactions carried on our platform using the VLX token.
Creator Verification and Voting
Users will be always be more likely to buy or transact from verified creators on our platform. As such creators who will wish to verify their platform will be required to stake a preset amount of VLX token before they can apply for verification.
Stakers of our token will also be able to vote for the verification of the creator's profile and verification will be carried out when the voting period ends and majority votes in approval of the verification.
NFT Farming
Users will be able to stake a preset amount of $VLX on our platform and be able to earn rewards in limited edition NFTs which can be tradable on other NFT platforms too.
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