This monster may be based on the goblin shark, due to the shape of its head and the initial use of its jaw to attack.
"Veiss" is Latvian for white. The name can also be a reference to "Weiss" (Weiß), the German word for "white," possibly referring to this monster's coloring.
Great white sharks are also arguably the world's most well known species of shark, possibly inspiring this card's white color scheme. However, "Shark Drake Veiss" has more white than that of a great white, as they only have white coloration on their lower jaws and underbelly.
"Vice" may refer to how a shark's teeth clamp down hard when it bites, like a vicegrip.
"Vice" (バイス Baisu) is also part of the Japanese name of Shark's first "Number", "Number 17: Leviathan Dragon" (Japanese name is "No. 17 Levice Dragon"). Its attack name in the anime was also known as "Vice Stream."
"Vice" may also refer to sinful behavior, evidenced by this card being portrayed as "evil" in the anime, while its counterpart, "Number C39: Utopia Ray", is portrayed as "good."
In the anime, when this monster removes an Xyz Material and banishes it for its effect, it eats the Material and shoots a blast into the ground, which reveals a portal to the Graveyard. The monster it banishes then emerges and attacks the targeted monster to reduce its ATK.