The offer is applied on 1-to-1 basis (one single perpetual license to one V-Ray Solo, Premium or Enterprise license). The original perpetual license will still be active after the switch.
Upgrade to the latest version.
If you have a V-Ray perpetual license version 3, Next or 5 and you would like to stay on a perpetual license but move to version 6, you can still do so.
Currently, upgrades to version 6 are available for V-Ray for 3ds Max, V-Ray for Maya, V-Ray for SketchUp & V-Ray for Rhino license holders. Upgrades to V-Ray 6 for other V-Ray integrations will be possible upon their release to the new version.