Praxis, a self-described internet-native alliance, said it received $525 million in funding to build a lesser-regulated tech-friendly city.
A project aiming to create a city with fewer regulations for crypto and artificial intelligence tech leaders claims to have received a $525 million funding pledge.
Praxis, a self-described “internet-native alliance,” said on Oct. 15 it secured funding from various companies, including crypto lending platform Arch Lending and crypto investment firm GEM Digital.
The location for the tech utopia hasn’t been shared, but the project is promising the city will “reduce regulatory barriers” for tech companies in “AI, crypto, biotech, energy, and advanced manufacturing.”
