This city would be built somewhere in the Mediterranean Sea.
Praxis announced Tuesday thatIt raised $525 million for the construction of a city that is governed by blockchain technology, which is expected to be set somewhere near the Mediterranean Sea in Europe.
According to the Blockchain Observatory, Praxis added this amount after a funding round that began since 2022 and in which some companies such as Arch Lending, GEM Digital and Manifold Trading participated among the dozens more.
According to the founders of the company, it will seek to invest to establish, improve and accelerate agreements with the owners where they will build the city, as well as local governments.
The company Zaha Hadid Architectswill be in charge of the design and construction of that city, in which, as detailed in the portal, it will mix a futuristic and classical aesthetic. David Weinreb will also be in charge of building it.
According to Praxis,the three main reasons for the construction of the city will be:
- Unlocking technological and scientific possibilities.
- Create more heroic and beautiful ways of life through culture and institution-building.
- Prove the world that it is possible to build a great city in the 21st century.
This article has been translated after first appearing in Diario El Mundo