Praxis is the world’s first Network State, an internet-native alliance to accelerate technological progress and revitalize Western Civilization. More than 14,000 Praxians live in 84 countries and have founded companies worth over $400B.

A central ambition of the project has been to build a new city, for three central reasons:

1. Unlocking technological and scientific possibilities: By forming a city in an Acceleration Zone with extreme talent density, we reduce regulatory barriers, enabling rapid breakthroughs in AI, crypto, biotech, energy, and advanced manufacturing.
2. Creating more heroic and beautiful ways of life: Through culture and institution building.
3. To show the world that it is possible to build a great city in the 21st Century.

Capital formation for the city has been a central focus for Praxis, because it accelerates deal velocity and quality with governments and land owners. As a novel project, we had to get creative. Seeing institutions like BlackRock commit to crypto, we designed a crypto-native mechanism for financing large scale projects using tokenized real-world assets (RWAs), in partnership with the largest new city development project in the Middle East, Global Emerging Markets ($3.4B alternative investment group based in NYC), and Arch Lending¹. This financing – primarily consisting of a drawdown facility – represents this mechanism’s first deployment.

Today, we are pleased to announce a $525M financing to build the next great city, with new participants including Arch Lending, GEM Digital, Manifold Trading, and more, as well as new angels including Dan Romero (CEO of Farcaster), Tom Schmidt (GP at Dragonfly), Rob Hadick (GP at Dragonfly), Anirudh Pai (Partner at Dragonfly), Kartik Talwar (CEO of ETHGlobal), Mert (CEO of Helius Labs), Max Novendstern (Co-Founder of Worldcoin), Will Price, and more.

With this capital, Praxis can execute its vision of building the next great city.

The city will be designed to attract entrepreneurs and foster breakthroughs in AI, crypto, biotech, energy, and advanced manufacturing, by locating in an Acceleration Zone² – a Special Economic Zone with reduced regulatory barriers for technology companies. The culture of the city will promote the traditional values of Western Civilization.

Zaha Hadid Architects has conceptualized the city’s design, blending futuristic and classical aesthetics with scalable urban planning. David Weinreb, former CEO of Howard Hughes (NYSE: HHH), who co-developed three new cities with Bill Ackman, leads the development effort.

We are grateful to our existing investors for their support on this journey: Paradigm, Bedrock, Apollo Projects (Max and Sam Altman), Winklevoss Capital, Balaji Srinivasan, and many more.

Lastly, we invite you to join us at our first pop-up city event, Arkham x Praxis Campus in the Dominican Republic from November 5th to 8th. There we will host the first annual Praxis World Congress, a convergence of visionaries, leaders, and pioneers shaping the future of digital sovereignty.

Apply to attend the Praxis World Congress: www.campuspuntacana.com/apply

[1] The Network State: Crypto’s End Game

[2] National Accelerationism