Slightly Mad Studios has announced that it's working on World of Speed, a free-to-play racing game alongside My.com that's to receive a closed beta this Spring.

World of Speed takes real-world locations and carves tracks out of them, Project Gotham-style, as well as featuring real-world circuits such as Kent's Brands Hatch. It's a multiplayer-based experience, with a strong emphasis on social features.

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"At the heart of World of Speed lies a unique massive multiplayer online experience which incorporates a dynamic social elements and entirely new ways to compete in a racing video game - from an individual to a team level," Slightly Mad's Ian Bell said in the official blurb. "World of Speed is an online game and will be continuously supported with innovative and fresh content to keep the competition furious well after its launch."

Slightly Mad Studios has plenty of previous in the racing genre. It cut its teeth on GTR 2 before working on the Shift series for EA, and most recently has gathered attention for Project Cars, a startling looking racing game that's also due for release this year. Will World of Speed impact on Project Car's development? Hopefully we'll be able to find out soon enough.