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Наталя ХандусенкоHot News
9 April 2025, 13:11
2025-04-09
American startup Praxis is considering Ukraine as a place to build its first city, where residents will work on developing technologies in various industries
In May, co-founder and CEO of the American startup Praxis Dryden Brown will begin a tour of various cities around the world, including Kyiv, to choose a place to create the first city whose residents will work on developments in the fields of AI, biotechnology, energy, cryptocurrencies and advanced manufacturing. The startup is funded by Silicon Valley investors. For the city, he needs at least 40.5 km².
In May, co-founder and CEO of the American startup Praxis Dryden Brown will begin a tour of various cities around the world, including Kyiv, to choose a place to create the first city whose residents will work on developments in the fields of AI, biotechnology, energy, cryptocurrencies and advanced manufacturing. The startup is funded by Silicon Valley investors. For the city, he needs at least 40.5 km².
Brown plans to visit Nuuk in Greenland, Buenos Aires, Rome, Athens, Auckland, Marrakech, Tokyo, Kyiv and the Dominican Republic capital Santo Domingo to select a site for the city by the end of 2025, Bloomberg reports .
What is Praxis?
Co-founder and CEO of American startup Praxis Dryden Brown. Source: Bloomberg
Praxis is part of a movement based on the idea of the “network state” — a term coined by investor Balaji Srinivasan, who suggested that ideologically cohesive online groups could evolve and populate their own self-governing territories.
This is a technological variant of special economic zones or charter cities, where private entities enter into agreements to develop territories whose governance differs from that of the host country.
The concept has become popular among technology entrepreneurs seeking to avoid what they see as burdensome regulations and tax regimes.
Praxis, a 5-year-old startup, calls itself a sovereign network because it is a virtual community with a “shared culture.” The website says : “Praxis is a home for the brave who seek virtue and wisdom.”
Praxis is interested in simpler regulation that would help its members advance research in artificial intelligence, biotechnology, energy, cryptocurrencies, and advanced manufacturing.
The city will be governed by AI, an environment that will accelerate technological research, and will have employer-friendly labor laws that Brown describes as “Elon-friendly.”
In addition to Brown, Praxis' real estate development projects are led by former Howard Hughes Corp. CEO David Weinreb.
How is the project progressing as of today?
The startup has raised about $500 million from investors, including cryptocurrency company GEM Digital, Sam Altman's Apollo Projects, Pronomos Capital, Peter Thiel's venture fund that invests in charter cities, as well as venture capital firms Bedrock, Paradigm, Winklevoss Capital, and Day One Ventures.
On its website, Praxis reports that more than 87,000 people have applied for citizenship — or “Praxians” — by filling out a short online form that asks for their LinkedIn and Instagram profiles.
Brown says many of Praxis' potential residents are tech founders and Silicon Valley workers looking to innovate in a less regulated environment.
Brown has spent the last few years building relationships with governments, local administrators and developers in the target countries. Local residents will be allowed to visit, work and possibly move into the city. "We won't be a little enclave designed to exclude the local population."
It's not guaranteed that Brown will receive a warm welcome in all countries. For example, he was not very happy in Greenland.
In the summer of 2024, Brown visited Greenland. In a post on X, he wrote, “I went to Greenland to try to buy it.” He recalled that during that visit, he became convinced that the country could be used to model how Mars or the Moon would be explored.
“Nice fantasy, but forget about it,” replied Danish parliamentarian Rasmus Jarlov.
What will happen after they choose a place to build a city?
Once a location is announced and the support of the host country is secured, Praxis will send a small delegation of supporters to move into 250-1,000 modular homes. Then, a large city will be created.
