The subsidiary of game developer Netmarble has announced the availability of its non-fungible token staking service.
It is very common to observe various financial services in the crypto ecosystem, related to offering users certain returns on their cryptoassets. But in general, such services are offered in respect of cryptocurrencies or fungible tokens.
In this sense, services such as staking, farming, liquidity pools, mining pools, and many more, are some of the services offered for such tokens. But on this occasion, the Marblex team has announced the innovative section of its platform for users to lock their non-fungible tokens, and thus obtain certain returns.
About NFT Staking Service
This service gives users the possibility to obtain rewards by blocking their NFTs, but keeping them in their wallets. This can be done in 2 ways, one can be through mining, and the other through seasonal staking.
Staking involves the action of depositing tokens in a Smart contract for a certain period of time, and in return, they receive the corresponding rewards.
In the case of NFT staking as it does not have an innate value to be able to issue rewards; NFT Staking makes use of smart contracts where each NFT has an ID that holds the value that will be used for the formula that determines its price.
In addition, Marblex offers a series of NFT memberships called Marblership NFTthrough which it offers MBX token mining service, game coupons, among other exclusive benefits.
Regarding Marblership, those users who are holders of an NFT Marblership will be able to access the mining option. Subsequently, the rewards will be established in proportion to the time they have blocked (staking) such non-fungible tokens, and the different APR rates established by the platform.
Steps to Stake or Unstake an NFT
From the MBX NFT Staking home page, you can scroll down to find the NFT you want to stake:
Press the “Staking” button.
Then, select the “NFT Stake” button.
Approve the application.
Enter the trading password.
Select the NFT to be placed in Stake.
Re-enter the traing password.
A “Staking successful” sign will appear.
In the same section of the page:
Select the NFT and click on the “Request Unstaking” button.
Enter the trading password.
Then, the NFT will enter a waiting period of Unstaking.
Five minutes later, NFT Unstaking can be done.
Marblex is a blockchain company that develops games for mobile devices, and its main goal is to bring to the market a variety of blockchain games of the highest quality. It has more than 6000 employees, among which you can find gaming industry veterans, blockchain experts, among others.
In addition, they offer various blockchain services such as a cryptoasset wallet, a decentralized exchange (DEX), a NFT marketplacemarketplace, among many others. In this way, they manage to offer a wide range of services, so that users can live complete and unique experiences.
Written by Luciano Garriga (Tw: luchogarriga) for NFT Express.
IMPORTANT: NFTEXPRESS only publishes articles for informational purposes. Nothing herein contains the character of recommendation or promotion of any type of investment for the reader. Before making any kind of investment, it is recommended to consult with a specialist in the matter.