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[PRESS RELEASE – London, United Kingdom, May 5th, 2023]
VEXT is the next step for Veloce in its Web3 journey, as the London-based firm prepares to introduce the VEXT utility and governance token.
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Veloce, recognized as the premier digital racing media network globally, is venturing into the Web3 space with the introduction of its new blockchain utility and governance token, VEXT.
Developed in collaboration with MDRxTech, specialists in technology development and Web3 strategy, VEXT will empower the Veloce community to significantly influence and manage essential decentralized assets within Veloce.
The Veloce brand encompasses a leading gaming and racing platform, Veloce Esports, and a successful racing team, Veloce Racing, which is currently participating in the prestigious Extreme E championship.
Within this Veloce ecosystem are some of the most prominent figures in gaming and racing, including Mercedes AMG, Ferrari, McLaren, and Yas Heat, along with established joint venture sub-brands like Lando Norris’ gaming and lifestyle brand, Quadrant.
With the largest racing community globally, boasting 35 million subscribers to date and approaching one billion monthly views, the Veloce group is ideally positioned for Web3.
VEXT will enable token holders to engage within the Veloce ecosystem and exert a meaningful influence on the management of assets within the Veloce group, including teams, talent, leagues, and content.
Token holders will also have the ability to transact across games and live interactive sports features, receiving rewards for participation such as tokens, early access to merchandise, and real-world events to enhance the user experience.
A VEXT integrated store, in collaboration with Veloce partners, will fully embed the Veloce network into a decentralized community, providing additional utility to onboard users and reward early supporters.
Further information regarding VEXT and its platform will be shared in the upcoming weeks, with several partnerships and integrations set to be announced. Individuals interested in learning more about VEXT can register on the website ahead of the forthcoming public pre-sale, which will be revealed soon.
Rupert Svendsen-Cook, Co-Founder and Chief Executive Officer at Veloce, stated: “This is the most thrilling initiative we have ever undertaken. As a company, we possess the two essential components for Web3: a globally engaged community and a significant amount of utility. Our ultimate goal is to become the first genuinely decentralized global sporting organization.”
Tom Grogan, CEO of MDRxTech, remarked: “Advancing Veloce, already a trailblazer and innovator in motorsports, presents an extraordinary opportunity. They are harnessing the best aspects of Web3 – community involvement and decentralization – while offering real utility and control over an organization that millions of individuals are already passionate about. I am immensely proud of the team that has worked diligently to prepare this product for launch and continue to be inspired by the Veloce team for their dedication to innovation and disruption in this remarkable industry.”
About Veloce
Established in 2018, Veloce is a multi-faceted gaming and sports media organization operating in some of the most innovative, rapidly growing, and future-oriented sectors in the UK.
About MDRxTech
Founded in 2020, MDRxTech is a digital transformation consultancy that provides “compliant by design” transformation for clients across various sectors and regions.
MDRxTech consists of management consultants, software developers, blockchain engineers, data scientists, and designers who collaborate closely with The Mishcon de Reya Group’s legal and regulatory experts. MDRxTech specializes in emerging technologies with legal complexities, including artificial intelligence, machine learning, the metaverse, and Web3 technologies such as blockchain, NFTs, and cryptocurrencies. MDRxTech is part of The Mishcon de Reya Group, which includes the award-winning law firm Mishcon de Reya, along with other enterprises such as MDR Brand Management.
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