Project Spotlight: Veloce Driving Web3 Evolution with VEXT
Web3 in the front seat, literally. 🏂🏾
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Starting this week, we’d be picking a web3 project and doing a deep dive for you, our subscribers. This would go under “Project Spotlight”, our new section, and will hit your mail every Wednesday. Today’s project is VEXT by Veloce, a utility and governance token created by the premium racing brand.
If you’d like us to check out a project, please send us a dm on Twitter or hit reply on the substack. We’d be so happy to hear from you.
Thanks again, friends. We are gonna make it.
London-based company Veloce takes its next step in the evolution of Web3 with the launch of the utility and governance token VEXT. Here’s what you need to know about their innovative journey into web3.
Veloce, the world's leading digital racing media network, is entering the Web3 space with the launch of VEXT, its new blockchain utility and governance token.
With VEXT, the Veloce community will be able to effectively influence and manage key decentralized Veloce assets. VEXT was developed in collaboration with MDRxTech who are established experts in tech development and Web3 strategy.
The Veloce brand includes the race-winning team Veloce Racing, which is currently competing in the prestigious Extreme E championship, and the industry-leading gaming and racing platform Veloce Esports.
Some of the most well-known names in gaming and racing, such as Mercedes AMG, Ferrari, McLaren, and Yas Heat, are included in the Veloce network, along with long-standing joint venture sub-brands like Lando Norris' gaming and lifestyle company Quadrant.
The Veloce group is a perfect fit for Web3 with the largest racing community in the world, 35 million subscribers to date, and nearly one billion monthly views.
With VEXT, token owners will be able to participate in the Veloce ecosystem and have a real impact on the direction of the company's assets, such as its teams, talent, leagues, and content.
Holders of tokens will also be able to engage in transactions across games and live interactive sports features, earning tokens, early access to goods, and real-world events as incentives for their participation.
Together with Veloce partners, a VEXT-integrated store will completely integrate Veloce network into a decentralized community, adding new utility to onboard users and reward early adopters.
In the upcoming weeks, information on VEXT and its platform will be made public, and numerous partnerships and integrations will be disclosed. Prior to the public pre-sale, which will be announced soon, users who are interested in learning more about VEXT can sign up on the website.
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 decentralised global sporting group.”
Tom Grogan, CEO of MDRxTech, added:
“Evolving Veloce, already a pioneer and innovator within motorsports, is an incredible opportunity. They’re leveraging the best bits of Web3 – community participation and decentralisation – while providing real utility and control over an organisation 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.
For more information:
Website | Telegram | Twitter | Discord | Instagram | YouTube | Linkedin | TikTok
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.
To learn more, please visit:
https://mdrx.tech