The Praxis project announced securing $525 million to create crypto cities. However, GEM Digital's involvement raises legitimacy questions.
What is Praxis?
Founded by Dryden Brown in 2019, Praxis claims to be the first network state. Aiming to accelerate technological progress, create heroic living, and build a 21st-century city, the funding will be used to acquire land and start construction.
Praxis' Vision for the Future
With over 14,000 participants worldwide, Praxis aims to build a city that serves as a cultural beacon, blending traditional Western values with technological advancements.
GEM Digital's Controversial Involvement
GEM Digital, a key investor, has been criticized for deferred investment commitments. Projects announcing GEM's support often face token price volatility post-announcement.
Despite challenges and doubts surrounding GEM Digital's involvement, Praxis continues with plans to create an innovative city, leaving funding legitimacy questions open.