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GEM Digital Limited Invests $50 Million in Veloce Media Group

Veloce Media Group, a decentralized gaming and sports media company based in London, has secured a significant investment of up to $50 million from Bahamas-based digital asset investment firm GEM Digital Limited. The investment will be made through a structured token subscription agreement, as stated in an official announcement.

Veloce, known for its various gaming teams and brands such as Veloce Esports, Veloce Racing (an Extreme E team), and Quadrant (a joint venture sub-brand backed by Formula 1 driver Lando Norris), aims to capitalize on the emerging opportunities in utility tokens within growing industries. The partnership with GEM Digital marks a strategic move for Veloce, following the recent launch of its blockchain utility and governance token, VEXT. The collaboration is expected to unlock long-term prospects for both parties involved.

Daniel Bailey, Chief Commercial Officer of Veloce and CEO of Veloce Racing, expressed enthusiasm about the transaction, stating, "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 the acquisition of more gaming and real-life racing properties, ultimately giving our vast community further VEXT utility and influence."

Tom Grogan, CEO of MDRxTech, also shared his excitement about the opportunity to evolve Veloce, describing the company as a pioneer and innovator in the motorsports realm. Grogan praised Veloce for leveraging the positive aspects of Web3, such as community participation and decentralization, while providing real utility and control over an organization that millions of people already deeply care about. He commended the Veloce team for their commitment to innovation and disruption within the industry.

The investment from GEM Digital Limited not only validates Veloce's pioneering position but also sets the stage for its future growth and expansion plans. With a focus on strategic acquisitions in the gaming and real-life racing sectors, Veloce aims to provide its vast community with increased utility and influence through its groundbreaking VEXT token. The company's dedication to innovation and disruption within the industry continues to drive its progress and inspire the team behind its success.


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