Once it is dry rub with a dryer sheet and brush with a natural bristle brush, like boar bristle or a soft coat brush, then, toss into dryer on “fluff” cycle. That might do it, but, no guarantees, sorry. Often the nap remains stiff.

My experience is velveteen comes out looking almost tie-dyed, all stiff, wrinkled and WRECKED. Take it to a dry cleaner and see if they can restore it.