Why Verlux is Building on the Cardano Blockchain
You have probably heard about NFT’s in your crypto groups or on social media and caught in the craze of it, loving the idea and seeing it as a brilliant innovation which will be the future of crypto. However, that’s not all to it, as content creators and crypto enthusiast hope to utilize the system of NFT to mark ownership rights, guarantee originality to their contents and earn good money on them, that hits the reality check they are about to witness.
The truth they come to find out is that though they have heard creators selling their works for thousands of dollars, most of this money don’t go to them. The reality is that numerous fees are charged to NFT artists both upfront and after sales, leaving them with little to nothing of what they deserve. These fees range from Minting costs, transaction fees, commissions on sales, platform fees etc.
Seasoned crypto users as well as newbies can’t deny that they have sometimes marveled at the enormous transaction cost required to use the Ethereum network. It is not news that NFT artists often pay at least $100 just to mint their NFTs, that doesn’t include gas fees to process transactions, then commissions on sales are also required thereby reducing the earning these creators deserve. Traders also have to pay gas fees as well to make purchases.
The NFT space been made to cope with such modus operandi because there is no suitable alternative, that is why we are building on the Cardano Blockchain to provide a solid competition to other NFT platforms. Building on the Cardano network will make us utilize the low transaction fee nature of the Blockchain. Users will no longer be required to pay enormous fees to mint their NFTs, high commissions on sales or pay high gas fees to process their transactions.
Though the Ethereum network is enjoying the majority of users (due to lack of options), with this development the use of our platform by Art creators and traders will quickly surge as everyone will want to utilize the value of our platform. NFT Artists will be able to swap their NFTs on other blockchain to Cardano network to utilize value we are providing and be open to a much broader audience, transactions will be processed at a much faster speed while remaining efficient and safe, also they won’t have to pay huge transaction fees or commissions for NFTs.
The Cardano Blockchain is the future, since it was founded in 2017 it has tremendously increased in popularity and value leading to many adaptors of it. Cardano blockchain has gradually been gaining pace in becoming the go to place of crypto enthusiasts hoping to find alternatives from the norm and also utilize their value. With the launch of the Alonzo Hard Fork on the Cardano Blockchain which will lead to smart contracts compatibility on the Cardano network, Verlux is poised strategically to employ its use when it has gained full functionality.
Verlux Cross Chain Marketplace following our roadmap which can be found “here” is set to go public soon. Our project has already been receiving significant interest from retail and institutional investors, and is already getting the backing of a lively community. We will be organizing the Seed Sales of our Token for early adopters to join in our project. With the current craze of NFT coupled with the Cardano bull market gathering steam decentralized projects such as ours offering real solutions will be a real stronghold in Cardano community.
Our Social Media Links