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Entrepreneur Dryden Brown has embarked on an intriguing venture called “Praxis,” aiming to establish the world’s first Network State and rejuvenate Western civilization. This ambitious concept has already attracted a commitment of $525 million in investment. We may hear more about this initiative in the future.
Overview of the Praxis Project
According to a recently published WSJ report, Brown has secured $525 million in financing tied to the development of his dream city. What is their goal? They aspire to build a new city that will showcase beautiful lifestyles and demonstrate that constructing a remarkable city in the 21st century is indeed possible, unlocking the keys to technological and scientific advancement.
Seeing major companies’ interest in cryptocurrency, Brown states they have created a mechanism to finance large projects using RWA infrastructure.
“Upon witnessing institutions like BlackRock’s commitment to crypto, we designed a mechanism to finance large-scale projects using RWAs, in collaboration with Global Emerging Markets and Arch Lending for the largest new city development project in the Middle East.”
Aiming to Impact the World
Who do you usually hear the phrase “we are here to change the world” from? The top three answers for many would be “scammers.” Ponzi schemes, fraudulent crypto ventures, and various methods for deceiving people often emerge with the idea of changing the world. However, this situation is somewhat different.
Dryden Brown is moving forward with the establishment of special economic zones that support the free development of cryptocurrency, artificial intelligence, and biotechnology. If he can indeed secure such a significant investment based on comprehensive evaluations and reports from major companies, we could be witnessing the early days of one of the impactful ideas of the future.
Information about the supporters of the project can be accessed from the Praxis website.
“Today, we are pleased to announce $525 million in funding for building the next great city, alongside new participants including Arch Lending, GEM Digital, and Dan Romero, CEO of Farcaster, as well as angel investors such as Tom Schmidt, Rob Hadick, Anirudh Pai, and others.”
