A few months ago both Slightly Mad Studios and My.com announced that they were working on a persistent online racing game, World of Speed. Similar to what EA originally attempted with their own version, Need for Speed World. I honestly forgot about the game until I received an email this morning telling me that sign-ups for the World of Speed beta were live.
There still is no beta on when the beta will begin or when the actual game will be released.
Source: World of Speed Website