Veloce Media Group announces US$50m investment

GEM Digital will invest in Extreme E team owner through structured token subscription agreement.

Veloce Media Group has announced major investment from GEM Digital, with the London-based organisation set to receive up to US$50 million.

Confirmed:

  • Investment to fuel Veloce Media Group’s growth 
  • Supports the impending launch of the VEXT blockchain utility and governance token

Context: GEM Digital is a digital asset investment firm looking to increase its stake in the world of Web 3.0. This investment follows  the launch of VEXT, Veloce’s blockchain utility and governance token. The token will be rolled out over the coming weeks.

Comment: Daniel Bailey, chief commercial officer of Veloce and chief executive of Veloce Racing, said: “This is a very exciting transaction. 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.”

Coming next: The introduction of VEXT in the coming weeks aims to position Veloce as a leading decentralised gaming and sports media organisation. The goal is to provide 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.

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