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Veloce (VEXT) is an ERC-20 token built on the Ethereum and Polygon blockchains. It is used for multiple functions within the Veloce Media Group (VMG) ecosystem, primarily as a means of membership and governance. Holders can use VEXT to vote on the direction of the brand, access exclusive events and experiences, and interact with online games. The token also provides access to a three-tiered loyalty program, known as "race clubs," which offer increasing rewards and benefits based on the amount of VEXT held.
Veloce (VEXT) is a cryptocurrency token that operates on the Ethereum platform. It is primarily used within the Veloce ecosystem, which includes various GameFi products and live sports features. Holders of VEXT can interact with these products, transact across different games, and receive rewards such as tokens, merchandise, and tickets to real-world events.
To store Veloce (VEXT) tokens, you can use a digital wallet. The primary wallet recommended for this purpose is MetaMask. Once you have set up your digital wallet, you can store your VEXT tokens securely within it.
To buy Veloce (VEXT) tokens, follow these steps:
Choose an Exchange: Select a reliable cryptocurrency exchange that supports VEXT, such as Bybit, MEXC, or KuCoin.
Create an Account: If you don't already have an account on the chosen exchange, sign up by providing the required information, including email address and password. Verify your email address by entering the verification code sent to you.
Complete KYC (Know Your Customer) Verification: Submit an identity document (driver's license, ID card, passport, or residence permit) and a selfie to complete the verification process. This step may take approximately 1-2 hours, depending on the number of requests.
Navigate to the Buy Section: Once your account is verified, go to the "Buy Crypto" or "Buy" section on the exchange's website or mobile app.
Select Currency and Payment Method: Choose the currency you want to spend to purchase VEXT and select the "Receive" currency as VEXT. Enter the amount of currency you want to spend and select your preferred payment method.
Complete the Purchase: Confirm the details and complete the purchase. The VEXT tokens will be credited to your account.
- Store Your Tokens Safely: After purchasing VEXT, consider transferring them to a secure digital wallet, such as a cold wallet, to ensure their long-term safety.
Remember to carefully study the crypto information and risks before investing in VEXT.
The history of Veloce (VEXT) is deeply rooted in the motorsports industry. Founded in 2017, Veloce initially focused on disrupting the motorsports sector before expanding into other sporting spaces and events. The project raised £12.5 million through traditional financing and achieved a pre-money valuation of £60 million by 2021.
Veloce's e-sports division owns and operates teams on behalf of prominent brands such as Ferrari, Mercedes AMG Petronas, and McLaren. Additionally, it manages Yas Heat on behalf of the Abu Dhabi Government, aiming to gather top talent and inspire future regional and UAE-based champions.
In 2023, the Veloce project comprised 42 core staff members at its headquarters in Fulham, London, working towards establishing the platform as a leading decentralized sports and media platform.
The VEXT token, launched in 2023, is an ERC-20 governance and utility token that allows holders to interact with various GameFi products within the VEXTVERSE dApp. It enables transactions across games and live sports features, offering rewards such as tokens, merchandise, and tickets to real-world events.
The VEXT token is designed to integrate the Veloce community into a decentralized ecosystem, providing additional utility to onboard users and reward early adopters. The token's launch marked a significant step in Veloce's transition into the Web3 space, aiming to onboard millions of users from its existing Web2 gaming community.
Throughout its history, Veloce has demonstrated a strong commitment to innovation and disruption in the sports and gaming industries, leveraging blockchain technology to create a unique and engaging experience for its users.
Veloce (VEXT) is a high-speed cryptocurrency designed to provide fast, secure, and efficient transaction solutions in the digital ecosystem. It is built on the Polygon blockchain, which allows for decentralized and self-custody transactions. This means that users have full control over their assets and can monitor financial transactions through distributed ledger integrations, reducing the risks of theft, fraud, and hack attacks associated with traditional systems and centralized crypto projects.
Key Features- Decentralized Protocol: Veloce operates on a decentralized protocol, ensuring transparency and security in transactions.
- Polygon Blockchain: It is built on the Polygon blockchain, which supports fast and efficient transactions.
- Self-Custody: Users have full control over their assets, reducing the need for intermediaries and enhancing security.
- Vextverse: The Vextverse section of the project integrates transparency from the idealization stage, ensuring users are fully informed to make decisions.
- Penrose Voting Method: This method is used to allocate voting weights proportionally to the square root of each user's VEXT holding, balancing power between larger and smaller groups and protecting minority shareholders.
- Gaming: Veloce aims to establish leagues in the gaming space, with a professional gamer stable managing and developing teams of successful gamers.
- Racing: It has connections to the motorsport industry, with one of its co-founders, Daniel Bailey, having contributed to the growth of the Extreme E series.
- Blockchain Interactions: The platform allows fans to interact and engage with each other using blockchain technology.
- Price Predictions: Various sources predict different price movements for Veloce, ranging from pessimistic to optimistic forecasts. Some predict a rise to $0.080706 by July 18, 2024, while others see a potential drop to $0.00612 by the end of 2027.
- Technical Indicators: Tools like TradingView provide real-time aggregated buy-and-sell ratings based on popular technical indicators such as Moving Averages, Oscillators, and Pivots.
Overall, Veloce (VEXT) is a cryptocurrency designed to provide fast, secure, and efficient transactions while integrating transparency and self-custody. Its use cases span gaming, racing, and blockchain interactions, making it a unique project in the cryptocurrency space.
The token Veloce (VEXT) has several strengths that make it a promising investment opportunity:
Governance and Decision-Making Power: VEXT token holders have the power to make decisions and lend their voice in the direction and future of the Veloce and Vextverse projects. This level of community involvement ensures that the project remains aligned with the interests of its users.
Utility and Popularity: The market value of VEXT is determined by the utility and popularity of Veloce, the Vextverse, and their constituent brands, games, teams, and products. This means that as the platform grows in popularity, the demand for VEXT is expected to rise, increasing its value.
Limited Supply and Buy-Back Features: The total supply of VEXT tokens is capped at 300 million, with only 46.2 million currently in circulation. The limited supply, combined with the buy-back features, is expected to increase the token's value as demand rises.
Exclusive Rewards and Perks: VEXT holders can participate in exclusive Race Clubs, which offer rewards and perks based on the amount of tokens held. This creates a sense of community and encourages users to engage more deeply with the platform.
Integration with Gaming and Sports: VEXT is used for in-game activities and underpins an ecosystem for Veloce's gaming community. This integration with gaming and sports creates a large user base and potential for growth.
Web3 Integration and Technological Advancements: Veloce's Web3 integration, built upon technology and governance from MDRxTECH, provides a solid foundation for the project's future development.
These strengths position VEXT as a token with significant potential for long-term growth and value appreciation.
Veloce (VEXT) carries several financial risks that investors should consider before making investment decisions.
Market VolatilityCryptocurrency markets are highly volatile and unpredictable. Price fluctuations can be significant, and market conditions can change rapidly, affecting the value of VEXT tokens.
Risk of CollapseAlthough the risk of Veloce losing its entire value appears highly unlikely, each investment carries risks. Market demand, user adoption, and competition from similar platforms can impact the token's value.
Technical DisruptionsThe Veloce ecosystem relies heavily on technology, and any technical disruptions could negatively impact fan engagement and the overall success of the project.
Limited AdoptionThe Veloce project is in its early stages, and the adoption rate for its platform and VEXT token is limited. Integrating into the current sporting ecosystem can be challenging, and limited integration and partnership opportunities may hinder the project's growth.
CompetitionVeloce faces competition from other blockchain-based platforms like Bitsports, SportX, Animoca Brands, and Sorare, which can impact its market share and adoption.
Regulatory RisksCryptocurrencies are subject to changing regulatory environments, and unfavorable regulations can negatively impact the value of VEXT tokens.
Investment RisksInvesting in VEXT tokens involves significant risks, including the potential for losses. Investors should conduct thorough research and consult with financial advisors before making investment decisions.
Technical ComplexityThe complexities of blockchain technology can make it challenging for sports fans to navigate and utilize the platform, potentially limiting its adoption.
Dependence on TechnologyThe platform's functionality and user experience depend heavily on the underlying technology and infrastructure. Technical issues can negatively impact fan engagement and the project's overall success.
Integration ChallengesVeloce's integration into the current sporting ecosystem can be difficult due to its recent addition to the industry and limited integration and partnership opportunities.
User AdoptionThe success of Veloce depends on user adoption and community participation. If the platform fails to attract and retain users, its value may decline.
Market SentimentMarket sentiment can significantly impact the value of VEXT tokens. Negative sentiment can lead to price drops, while positive sentiment can drive prices up.
Liquidity RisksLiquidity risks can affect the ability to buy or sell VEXT tokens quickly and at a fair price, which can impact investment decisions.
Security RisksCryptocurrencies are vulnerable to security risks such as theft, fraud, and hacking, which can result in significant financial losses.
Governance RisksDecentralized governance models can be complex and may lead to governance risks, which can impact the project's direction and value.
Regulatory ComplianceVeloce must comply with regulatory requirements, and failure to do so can result in legal issues and financial penalties.
Economic RisksGlobal economic indicators can impact the value of VEXT tokens. Economic downturns or recessions can lead to decreased investment in cryptocurrencies.
Technical Analysis RisksTechnical analysis, while useful for predicting price trends, is not foolproof and can be influenced by various factors, including market sentiment and news events.
Overreliance on PredictionsRelying solely on price predictions can be risky, as they are based on historical data and may not accurately reflect future market conditions.
Lack of DiversificationInvesting heavily in a single cryptocurrency like VEXT can lead to a lack of diversification in an investment portfolio, increasing exposure to market risks.
Unqualified Investment AdviceInvestors should be cautious of unqualified investment advice and ensure that any advice they receive comes from reputable sources.
Market ManipulationCryptocurrencies can be susceptible to market manipulation, which can impact the value of VEXT tokens.
Information RisksInvestors should be aware of the risks associated with incomplete or inaccurate information about Veloce and its ecosystem.
Unforeseen EventsUnforeseen events, such as global pandemics or natural disasters, can impact the value of VEXT tokens and the overall cryptocurrency market.
- Daniel Bailey, Chief Commercial Officer: Responsible for the commercial growth and strategic partnerships of Veloce Media Group, with extensive experience in the gaming and esports industry.
- Jamie MacLaurin, Chief Gaming Officer: An experienced gaming executive responsible for the gaming strategy and operations of Veloce Media Group.
- Rupert Svendsen-Cook, Chief Executive Officer: A former professional racing driver and entrepreneur responsible for the overall vision and strategy of Veloce Media Group.
- Jack Clarke, Chief Marketing Officer: An experienced marketing professional responsible for the marketing and branding strategy of Veloce Media Group.
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