Exploring Praxis’ $525M Crypto City: Testing the Viability of Network States in Nation Building
Praxis has raised $525 million to fund the construction of its first network state-inspired city, aimed at creating a coordinated community of individuals with shared values.
This funding round attracted investors from crypto-focused companies, including Arch Lending and GEM Digital, and utilized a crypto-native mechanism featuring real-world asset tokenization. Designed by Zaha Hadid Architects, the city will focus on attracting entrepreneurs and fostering advancements in AI, crypto, biotech, energy, and advanced manufacturing. Praxis envisions this metropolis as a hub for innovation, aiming to reverse brain drain by enticing governments and residents.
With a community of over 14,000 Praxians in 80 countries, Praxis seeks to challenge traditional nation-states through economic freedom and on-chain governance, potentially reshaping the future of governance.
Clever Robot News Desk 20th October 2024
