In its next step towards Web3 growth, Veloce, a multi-pillar gaming and sports media company, has released VEXT, its utility and governance token. With VEXT, Veloce says that its community will have direct control over key decentralised resources. The company has also said that it will announce details of a number of partnerships and integrations for the VEXT platform.
Token holders of VEXT will be able to participate in the Veloce ecosystem and exert real control over the development of Veloce’s teams, talent, leagues, and content.
Additionally, token holders will be able to transact in games and real-time interactive sports features. This will give them opportunities to earn tokens, get early access to merchandise, and tickets to live events in exchange for their participation.
The Veloce brand includes the Veloce Esports platform, which is at the forefront of esports, and the Veloce Racing team, which is a top contender in the Extreme E series.
Veloce collaborated with MDRxTech, leaders in software engineering and Web3 strategy, to produce VEXT. MDRxTech is part of The Mishcon de Reya Group. The company specialises in artificial intelligence, machine learning, the metaverse, and Web3 technologies like blockchain, NFTs, and cryptocurrencies.
Brands like Mercedes-AMG, Ferrari, McLaren, and Yas Heat, as well as well-established joint venture sub-brands like Lando Norris’ gaming and leisure brand Quadrant, are some of the big brands that have subscribed to the Veloce network.
Veloce’s decision to join Web3 makes sense given that it hosts one of the largest online racing communities in the world. So far, it has amassed 35 million subscribers, and its races attract nearly one billion monthly views.
With the help of Veloce’s partners, including a VEXT-integrated shop, the Veloce network will be integrated into a decentralised community. This will herald additional functionality to onboard users and reward early adopters. Ultimately, Veloce hopes to be the first completely decentralised international sports organisation.
Tom Grogan, CEO of MDRxTech, said: ” 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.”
Users who would like to learn more about VEXT can register for updates on the platform before the upcoming public pre-sale.