Do tokens exit on VSC?

Yes. See https://docs.vsc.eco/how-to/create-a-token/

It's going to be more research before I can say "yeah this will work, let's use this" and that's not possible in 2 days of time where I've been busy with work

Absolutely. However, given that you are a project asking for money from the DHF I'd generally expect there is thorough spec research in any given technology. Considering that it seams spec research was not done regarding NFT market capability for HAF, this poses concern for Hive investors (including myself)