Verlux which has earned recognition as a Cardano startup building a decentralized Multi-Chain NFT Marketplace disclosed that it has launched its first decentralized product, A staking platform. The platform allows user to stake their VLX tokens & Cardano Native tokens to get rewards in VLX and exclusive rare NFTs.

The Verlux utility token, $VLX, will be used to power transactions and other utility operations inside the Verlux ecosystem. Token holders will be able to do different utility functions such as Stake to Receive VLX and Stake to Receive Latest NFT Drops, Transaction fees on the Marketplace, Featured Listings, Creator Profile verification, etc.

Holders of VLX tokens can set up verified decentralized auction houses where NFT developers can bid to debut their NFT Drops. According to the quantity of VLX tokens wagered, auction houses on the Verlux NFT marketplace will be rated and shown on the NFT Marketplace site. This implies that curators who have the most VLX tokens invested will have a higher level of insight into the market, resulting in more regular NFT drops.

Furthermore, the widely accepted Cardano-based project began in late 2021. It has been catching pace with its development strategy and is on track to deliver the NFT marketplace by the end of Q1 2022, according to Verlux's YouTube channel. Verlux's YouTube channel also contains a Demo video of the projected NFT Marketplace.