Praxis raises $15M Series A led by Paradigm, with Apollo Projects, Alameda Research, Three Arrows Capital, and Robot Ventures, and continued participation from existing investors.
Praxis wants to move away from building “artificially scarce metaverses” to create a city to organized around shared values rather than labour market principles of the digital age.The cryptocurrency-run city will intends to focus heavily on functional architecture and environmental technology.
“We want young and ambitious people who want to go out in the frontier and build the future.” Praxis is looking to build the city somewhere in the Mediterranean. In an Interview, Dryden Brown co-founder said,
“We are not trying to be a total sovereign nation or something like that. We want to partner with a government and build something really cool that works with us and works for them and is mutually beneficial.”
Dyren Brown and Charlie Callinan founded Praxis in 2019 with a goal of ‘building the city-crypto state to realize a more vital future’.
The team at Praxis consists of founders of publicly traded companies, Y combinator executives and veterans from governments and city development projects. They have begun expanding their Real Estate, Governance, and Engineering teams, along with an internal city research and design studio (the World Building Studio).
Praxis had raised $4.2 M in a seed round Led by BedRock, with the Winklevoss Capital a firm by the Winklevoss twins also participating in the round.
