"Network Nation" Praxis completes $525 million financing, Farcaster CEO and others participate

BlockBeats news, October 16, "Network State" project Praxis announced on Tuesday that it had completed $525 million in financing, with Arch Lending, Manifold Trading, and angel investors such as Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern participating.

The project has previously received financing from Paradigm, Alameda Research and Three Arrows Capital. The new funds will be used to build a technology-forward city to support the development of cryptocurrency, artificial intelligence, energy and biotechnology.

A report published in the Wall Street Journal stated that the location of the future Praxis city has not yet been determined. The project's website also shows that the project has nearly 14,000 "Praxians" who live all over the world.