[PRESS RELEASE – London, United Kingdom, May 5th, 2023]
VEXT is next for Veloce in Web3 evolution, a London-based company to launch the VEXT utility and governance token.
Veloce, the world’s leading digital racing media network, is diving into the world of Web3 with the launch of its new blockchain utility and governance token, VEXT.
Created in partnership with MDRxTech, experts in tech development and Web3 strategy, VEXT will allow the Veloce community to truly influence and govern key decentralized Veloce assets.
The Veloce brand comprises of industry-leading gaming and racing platform, Veloce Esports, and race-winning outfit, Veloce Racing, currently competing in the renowned Extreme E championship.
Within this Veloce network are some of the most influential names in gaming and racing, including Mercedes AMG, Ferrari, McLaren, and Yas Heat, as well as established joint venture sub-brands, such as Lando Norris’ gaming and lifestyle brand Quadrant.
With the largest racing community in the world, attracting 35 million subscribers so far and hitting nearly one billion monthly views, the Veloce group represents a perfect fit for Web3.
VEXT will allow token holders to integrate within the Veloce ecosystem and have a tangible influence on the direction of assets within the Veloce group, including teams, talent, leagues, and content.
Token holders will also be able to transact across games and live interactive sports features, with rewards for engagement such as tokens, early access to merchandise, and real-world events for an enhanced user experience.
A VEXT integrated store, together with Veloce partners, will fully incorporate the Veloce network into a decentralized community, implementing further utility to onboard users and reward early adopters.
Details on VEXT and its platform will be released in the coming weeks, with multiple partnerships and integrations to be announced. Users who are interested in learning more about VEXT, can sign up on the website ahead of the public pre-sale, which will be announced soon.
Rupert Svendsen-Cook, Co-Founder and Chief Executive Officer at Veloce, said: “This is the most exciting thing we have ever done. As a business, we have the two key ingredients for Web3: a globally engaged community and an incredible amount of utility. Our ultimate ambition is to become the first truly decentralized global sporting group.”
Tom Grogan, CEO of MDRxTech, said: “Evolving Veloce, already a pioneer and innovator within motorsports, is an incredible opportunity. They’re leveraging the best bits of Web3 – community participation and decentralization – while providing real utility and control over an organization millions of people already care deeply about. I’m so proud of the team who have worked so hard to engineer this product ready for launch and continue to be inspired by the Veloce team for their commitment to innovation and disruption in this incredible industry.”
About Veloce
Founded in 2018, Veloce is a multi-pillared gaming and sports media group operating across some of the most innovative, fast-growing, and future-focused sectors in the UK.
About MDRxTech
Launched in 2020, MDRxTech is a digital transformation consultancy that delivers “compliant by design” transformation for clients across a wide range of sectors and geographies.
MDRxTech is comprised of management consultants, software developers, blockchain engineers, data scientists and designers who work closely with The Mishcon de Reya Group’s lawyers and regulatory specialists. MDRxTech specialises in new technologies with legal complexity such as 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 award-winning law firm Mishcon de Reya, as well as other businesses including MDR Brand Management.
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