Praxis, Which Calls Itself the “World’s First Digital State,” Wants to Build a “Crypto City” in Uruguay

Praxis, an online community that calls itself the “world’s first digital state,” has announced plans to build its own city in South America.

The project, called +Colonia, will be located near the port of Colonia del Sacramento in Uruguay.

Praxis plans to invest approximately $1 billion in the city’s construction over the next three years.

Praxis was founded by Dryden Brown, a surfer from Santa Barbara who dropped out of New York University in 2019 and later worked as an analyst at a hedge fund.

The company brings together crypto investors and entrepreneurs who promote the idea of a new form of social organization.

According to Brown, such a system could become possible after the emergence of artificial general intelligence (AGI).