GEM Digital Ltd will invest up to $50 million in Veloce Media Group, which recently evolved to web3 and launched a new blockchain utility and governance token called VEXT. The investment will be made through a structured token subscription agreement.
Veloce, comprising of industry-leading gaming and racing platform Veloce Esports, and race-winning Extreme E outfit Veloce Racing, has attracted over 35 million subscribers, nearly one billion monthly views, across multiple digital platforms, including YouTube and Twitch, and millions of social media followers to become the world largest racing gaming media network.