Revolutionizing Racing Entertainment: Veloce Group’s VEXT Token Unveils the Future of Fan Engagement
Veloce Group is steering the future of motorsports fandom with the VEXT Web3 token, offering racing enthusiasts an active role in the content creation and decision-making process. In a recent interview, Chief Commercial Officer Daniel Bailey delves into the platform’s evolution and its potential to reshape the future of racing entertainment.
—
“VEXT is now integrated across the Veloce ecosystem,” says Bailey, emphasizing the substantial audience across racing gaming channels, Extreme E, and various Esports teams under Veloce’s umbrella. The VEXT token allows fans to transcend passive content consumption, granting them a say in the content creation process. Bailey envisions a future where token holders have real ownership and influence over the community.
The application of VEXT extends beyond virtual realms to real-world racing teams. Bailey highlights the decentralized decision-making power bestowed upon fans, beginning with the selection of liveries for the Extreme E car. This, according to Bailey, is a glimpse into Veloce’s multi-year project to integrate VEXT into every facet of the racing experience.
“We want to decentralize the team as much as possible,” Bailey explains, emphasizing the importance of aligning decentralization efforts with existing regulations.
Veloce aims to engage fans not only in determining liveries but also in influencing broader aspects, such as supporting environmental projects. Bailey emphasizes the need for cautious progress in the crypto space, highlighting the company’s compliance-centric approach.
Bailey envisions VEXT as a bridge between virtual and real racing experiences, drawing parallels with successful transitions of Esports racers to real-world competitions. He underscores the transferable nature of skills developed in virtual racing, offering a more accessible pathway for talent identification in the racing world.
“The pro side of E racing and sim racing is transferable – braking points, downshifts, even now you can engineer your cars online with changing dampers and aerodynamic settings,” says Bailey. “So that discipline is transitioning across. Obviously, it then depends on whether the person can reenact what they’ve done in the virtual world in the real world. But there’s more transition across than a first-person shooter, for example.”
“The potential of Esports to identify talent efficiently, noting that it lowers the barrier to entry for aspiring racers.” In regards to Veloce’s future plans, including the decentralization of the Extreme E team, onboarding other racing platforms into the VEXT ecosystem, and the upcoming phase two product launch of VEXT.
“We’re moving towards decentralized influence over the content creator channels under our umbrella,” says Bailey. “When you shift an audience of 38 million subscribers and 700 million users a month across to a platform like VEXT, then you’ll see not only a very financially exciting project because of the price appreciation that the token will receive, but also a platform that is really the modern way that the sport entertainment businesses should be. It’s a massively exciting move for us.”
