City-building startup Praxis has raised $15 million
The crypto city will be based on functional architecture and environmental technologies
05.03.2022 - 11:05
362
2 min
0
.
What’s new? Praxis, a city-building startup, which is backed by Peter Thiel, the co-founder of a PayPal payment system, has raised $15 million in Series A funding. Cryptocurrency venture capital firms led by Paradigm Capital, Sam Bankman-Fried’s Alameda Research, and Three Arrows Capital invested in the project. Praxis wants to build a city-state based on “shared values” rather than “labor market principles of the Industrial Age.”
What preceded it? Late last year, Praxis raised $4,2 million in a seed round. Among the investors were tech entrepreneurs Balaji Srinivasan and the Winklevoss twins. Dryden Brown, the co-founder of Praxis said:
“We are not trying to be a totally sovereign nation or something like that. We want to partner with a government and build something really cool that works with us and works for them and is mutually beneficial.”
Previously was mentioned that crypto investor Anthony Welch plans to build a bitcoin island that will be home to supporters of digital currencies.
Useful material?
Market
Users who have experienced withdrawal problems in the last two days will be eligible to participate
Mar 28, 2024
Market
Last July, a criminal investigation into the exchange was opened by the US authorities
Mar 27, 2024
Market
The unrealized profit from the deal was $8,9 million
Mar 26, 2024
Incidents
The phasing out began on March 25
Mar 25, 2024
Crypto regulations
The new measures must go through additional stages of approval
Mar 25, 2024
Incidents
The popularity of this kind of project launch format has already led to blockchain overload
Mar 20, 2024