Veloce partners with MDRxTech for Web3 project

Real-life and simulation racing organisation Veloce has partnered with technology consultancy MDRxTech to integrate Web3 and blockchain into its assets.

Through the partnership, Veloce aims to decentralise control over its products and services by offering community tokens that will enable access to experiences with the company’s products.

Utilising tokenisation projects to strengthen relationships with fans is not a move exclusively being done by Veloce. Blockchain company Socios.com partnered with several esports organisations and launched tokens over the last 12 months. However, Veloce is investing in building its own ecosystem, a step beyond just partnering with an already developed blockchain platform.

Veloce holds assets both in real-life motorsport and in esports. On the virtual tracks, it maintains a strong presence in F1 Esports, fielding rosters in partnership with prominent F1 brands like Alfa Romeo, McLaren, and Mercedes. Other esports organisations like the self-named Veloce Esports, YAS HEAT ESPORTS, and Quadrant — founded by the McLaren racer Lando Norris — are also part of the company’s portfolio.

Given the extensive participation of the company in both esports and motorsport, which, according to the company, generates over half a billion monthly views, Veloce expects its community to upscale its blockchain project quickly.

“There are so many Web3 projects that are fantastic ideas and tech solutions, but they’re starting from zero, they have no users, brand, community, fans, marketing or educational awareness,” commented Veloce Group’s Chief Innovation Officer Jack Clarke in the company’s press release. “That’s where Veloce is so uniquely well positioned above anyone else.”

For the project to thrive, Veloce highlighted the need to educate its community about the blockchain feature. As such, the company expressed the will to reward members ‘who are aligned with the firm’s mission, values and ethos’.

The CEO of MDRxTech, Tom Grogan, shared details about how the consultancy company will act in the partnership: “In designing and building this venture with Veloce, we’re also helping navigate legal and compliance complexities to protect the business and its users.”

The full development of Veloce’s Web3 ecosystem is predicted for early 2023.