Veloce Media Group announces major investment commitment of $50 million from GEM Digital Limited.

Following the announcement of Veloce Media Group’s evolution to Web3, with the launch of its new blockchain utility and governance token, VEXT, it was today announced that GEM Digital Ltd will invest up to $50 million, through a structured token subscription agreement, into the organisation.

Veloce, comprising of industry-leading gaming and racing platform Veloce Esports, and race-winning Extreme E outfit Veloce Racing, has attracted over 35 million subscribers, nearly one billion monthly views, across multiple digital platforms including YouTube and Twitch, and millions of social media followers to become the world’s largest racing gaming media network. 

The London-based organisation also operates esports and gaming teams and brands for some of the industry’s most influential names, including Mercedes AMG, Ferrari, McLaren, Yas Heat, whilst also establishing a successful joint venture sub-brand with Lando Norris – Quadrant – and continually competing and winning with Veloce Elites. 

The introduction of VEXT in the coming weeks will position Veloce as a leading decentralised gaming and sports media organisations; providing token holders with real utility through a variety of games integrating VEXT and tangible influence, benefits and rewards across all of the Veloce Media Group assets. 

The partnership with GEM Digital has all the signs of being a perfect ‘meeting of minds’, as the investment firm moves to increase its stake in this fast-moving world of sourcing, structuring, and investing in utility tokens in relevant and growing industries. 

“This is a very exciting transaction ,” said Daniel Bailey, Chief Commercial Officer Veloce and CEO Veloce Racing, “It comes very soon after the announcement of VEXT and our plans to evolve our media and sports group into this truly innovative space; validating Veloce’s position as a pioneer in the industry.

“The GEM commitment will allow us to focus on growth and expansion, through acquisition of more gaming and real-life racing properties, ultimately giving our vast community further VEXT utility and influence.” 

For GEM Digital, the investment has found a natural home which reflects its ambitions to work with a diverse set of organisations whilst promoting businesses in the emerging markets, supporting sustainable and inclusive ambitions through business. The investment promises to herald mutual long-term opportunities.

Details on VEXT and its platform will be released in the coming weeks, with multiple partnerships and integrations to be announced. If you're interested in learning more about VEXT, 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 decentralised 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 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."

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