Veloce
Crypto Overview
Project Overview
Veloce is a blockchain gaming and esports ecosystem token launched in 2023. The VEXT token serves as the native currency for the Veloce ecosystem, which includes racing games, esports tournaments, and digital motorsports content.
Intended Utility
The VEXT token is designed to facilitate transactions within the Veloce ecosystem, including: game purchases, tournament entry fees, voting rights for ecosystem decisions, and rewards for content creators and players.
Current Implementation
The token is actively used within the Veloce ecosystem for its intended purposes. Users can purchase gaming assets, participate in tournaments, and earn rewards through various ecosystem activities.
Business Model Analysis
The business model appears to be focused on gaming and esports, which are permissible activities under Islamic principles as they involve skill-based competition rather than chance-based gambling. The ecosystem does not involve interest-bearing mechanisms or prohibited activities.
Development Activity
The project maintains active development with regular updates to their gaming platforms and ecosystem features. The team consistently releases new content and features for their gaming products.
Token Distribution
The token distribution includes allocations for ecosystem development, team members, and community rewards. There are vesting schedules in place for team tokens to ensure long-term alignment of interests.
Crypto Impact
To assign a comfort level investing in Veloce from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Veloce.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.