It means underwear, it's a word that Moka Only made up on the song "Team Work".
"I put 25 full years under my velt/I got my ladys love restin right under my velt/(Yo moka whats velt?) That's my underwear get it/I'm known to make up words so people don't sweat it
โดย Pseudo IntILLectual 14 กรกฎาคม 2009
underwear; briefs; one's pelvic undergarment
My girl just bought me a fresh pair of velts!
โดย technics_speak 21 ตุลาคม 2005