Praxis secures $525M to build a city designed for tech leaders in AI, crypto, and biotech, aiming to reduce regulatory barriers and inspire innovation.
Praxis, an ambitious project focused on creating a less-regulated, tech-friendly city, has raised $525 million in funding from notable investors like GEM Digital and Arch Lending. The project aims to provide a space for innovation in areas like AI, crypto, and biotech, with a vision of blending futuristic and classical aesthetics in urban planning.
Key Points:
Major Funding Secured: Praxis secured $525 million from GEM Digital and Arch Lending to fuel the creation of a tech utopia, offering minimal regulatory barriers for crypto, AI, and biotech innovators.
Innovative City Concept: The city is envisioned as a blend of futuristic and classical aesthetics, designed to inspire tech leaders and showcase scalable urban planning.
Tokenized Ownership Model: Praxis will offer crypto tokens representing future real estate ownership, providing access to capital via public crypto exchanges.
Location Undecided: Possible city locations are being explored in Latin America and the Mediterranean, with the final selection expected in early 2025.
Tech Utopian Trend: Praxis joins other ambitious projects like Akon City and Satoshi Island but with more concrete steps toward realization.
Praxis represents the next wave of tech utopias, with significant financial backing and a bold vision for deregulated, innovative spaces. While the location is still undecided, the city promises to attract innovators from AI, crypto, and beyond, setting the stage for a modern tech revolution.
Source: Cryptonews
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