- Summary:
- Veloce says that the open-source VEXT token gives holders voting rights in governance, access to special events, gaming, and rewards.
Veloce, the digital racing media network, has announced that it will launch its native token, VEXT, exclusively on ByBit exchanges on September 4, 2023. Veloce is a media company that specialises in e-sports, gaming, and now Web3. It has set its eyes on boosting Web3 adoption, having already attracted over 35 million users and roughly one billion monthly views.
As part of the launch partnership, the ground-breaking concept will be made available exclusively on the token launch platform, ByBit, alongside exclusive discounts and other incentives.
Veloce’s mission and the relevance of VEXT
ByBit’s reputation as a trusted platform for trading digital assets and its $15.5 billion daily trading volume makes it an ideal venue for VEXT’s exclusive listing. Furthermore, Bybit has demonstrated its commitment to the positioning of Web3 in sports, being a major partner to Formula 1 team Red Bull Racing.
London-based Veloce is a diversified gaming and sports media conglomerate that serves some of the UK’s most exciting and promising emerging markets. It manages the gaming and esports operations of several prominent teams, including Mercedes AMG, Ferrari, McLaren, and Yas Heat.
The Veloce ecosystem includes the company’s well-established multiple gaming and real-world teams, creators, leagues, games, stores, and content channels. VEXT token holders will have greater control, integration, and earn rewards over decentralised assets within the Veloce Media Group.
There are five main pillars upon which VEXT’s usefulness rests:
- Governance- Holders of VEXT have voting and other governance powers inside the Veloce Group ecosystem.
- Play – Players can use their VEXT tokens on a variety of mobile and web games, as well as live interactive sports features, with the chance to win rewards.
- Redeem – Members who redeem their VEXT for products and content from the Veloce Group will gain access to exclusive benefits.
- Access – VEXT holders have access to exclusive social and sporting events, as well as special events.
- Integrate: VEXT will be available as open source for other developers to use in their own games, services, and other projects.
The Veloce team says they aren’t just following the latest fads, but are instead making genuine strides forward in their mission to bring the Veloce ecosystem’s passionate and active community closer to the utility and governance it deserves.