Praxis, an innovative company developing a technological city with relaxed regulations for crypto, AI and biotech entrepreneursraised a staggering $525 million yesterday.

Due to his constant commitment to creating an environment of limitless innovation, he recently financing obtained from a pool of investors (including the renowned GEM Digital, Arch Lending and Manifold).

The project aims to blend next-generation technology with conventional aesthetics. An urban hub for the world’s most important technology companies.

Now, with a full piggy bank, he is ready to bring his ambitious vision to life: $500 million, which would be dedicated to “A significant investment in AI.’

Praxis builds “the Rome of the 21st century”

The self-proclaimed ‘Internet Native Alliance’ is hatching a plan functional city that merges modern and traditional aesthetics.

Its ultimate vision is to build a forward-thinking city that incubates cutting-edge advancesspanning 1,000 acres and home to 10,000 tech enthusiasts.

Following the announcement of the capital injection, positive community sentiment flows on the project’s social networks.

One member of 21st century Rome» and “dubbed the new America”.

There are rumors that it could be located either in Latin America or in the Mediterranean. However, they will disclose the final location by the first quarter of 2025.

GEM Digital bets big on Praxis ($500 million)

Founded by Dryden Brown in 2019, Praxis raised funding from authoritative venture capital companies in 2022 (led by Paradigm, Apollo Projects and Robot Ventures).

GEM Digital led latest funding roundinjecting a generous $500 million into the project. Arch Lending followed with $25 million.

THE capital will be distributed every time Praxis achieves a milestonewhich includes government approvals, land purchase and symbolization of land ownership.

As part of the investment agreement, Praxis will deploy split tokens which represent shared ownership of the city’s real estate development. They will be publicly listed on crypto exchanges to maximize adoption and therefore profit.

Praxis – A champion of Tech-City or a pie in the sky?

Praxis recently secured $525 million to build a lightly governed, tech-centric city, which is an exceptional achievement. Given the promises of the project, his new glory is no surprise.

However, his ambitions, which echo similar failed and blocked projects (like Satoshi Island and Akon City), raise doubts about its lasting online success.

These companies collapsed after trying to turn pioneering, revolutionary visions into full-fledged cities to live in.

But nevertheless – if Praxis achieves its objectives – the city could transform the way next-generation technology is used in urban development, reconceptualizing what a modern city represents in the digital age.

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