No more “artificially scarce metaverses” says Praxis, a startup dedicated to building the world’s first crypto-powered city-state.
Peter Thiel-backed city-building startup Praxis has raised $15 million in Series A funding from a variety of crypto venture firms led by Paradigm Capital, Sam Bankman-Fried's Alameda Research, and Three Arrows Capital.
Dryden Brown of New York University, and Charlie Callinan of Boston College, co-founded Praxis, formerly Bluebook Cities in 2019, describing their goal as: “building the city-cryptostate to realize a more vital future,” according to the company website. Praxis wants to pivot away from “artificially scarce metaverses” to build a city-state that is organized around “shared values,” rather than the “labor market principles of the Industrial Age”. The cryptocurrency-run city will reportedly focus heavily on functional architecture and environmental technology.
Money made from crypto has gone into art jpegs and artificially scarce 'metaverses'. We want to put it into beautifully-designed homes and urban environments, parks and regen. agriculture - and more. We reject scarcity. We are infinitely and definitely optimistic about life.
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