Utopian City Project for Crypto and AI Leaders Praxis Secures $525M in Funding

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Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Praxis, an ambitious project that plans to develop a tech-centric city with minimal regulatory barriers for cryptocurrency and artificial intelligence (AI) innovators, has secured $525 million in funding.

The project, which brands itself as an “internet-native alliance,” revealed that it secured the funding from multiple investors, including Arch Lending, a crypto lending platform, and GEM Digital, a prominent investment firm in the crypto space.

The exact location of the planned city remains undisclosed.

Praxis promises that this futuristic urban hub will be a haven for companies working in emerging technology sectors such as AI, cryptocurrency, biotechnology, energy, and advanced manufacturing.

The goal is to foster innovation by easing regulatory restrictions, enabling businesses to thrive in a supportive environment designed for technological advancement.

$525M in financing for @praxisnation to build the next great city.

Together with our partners, we designed a novel drawdown mechanism for the development of new cities. This is its first deployment. pic.twitter.com/Q5uWTfROiJ

Praxis’s vision extends beyond merely creating a tech-friendly city; it aims to establish a “heroic and beautiful” way of life through what it calls “culture and institution building.”

The project leaders hope to demonstrate that constructing a flourishing city in the 21st century is possible by integrating modern technology with community-oriented development.

According to their vision, the city’s design will combine “futuristic and classical aesthetics