Praxis, a "cyber state" project, raises $525 million, with Farcaster CEO, Worldcoin co-founder and others participating

Odaily Planet Daily reported that the "Network State" project Praxis announced on Tuesday that it had raised $525 million in funding, with angel investors such as Arch Lending, Manifold Trading, and Farcaster CEO Dan Romero and Worldcoin co-founder Max Novendstern participating. The project had previously received funding from , , and . The new funds will be used to build a technology-driven city to support the development of cryptocurrencies, 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" living around the world. (The Block)