The Genesis of Praxis
Founded in 2019 by the dynamic duo Dryden Brown from New York University and Charlie Callinan from Boston College, Praxis (formerly known as Bluebook Cities) emerged with a bold mission. This isn’t just another tech startup; it aims to create a city-crypto state that champions shared values over outdated Industrial Age principles. Now, if that doesn’t get your creative juices flowing, I don’t know what will!
Funding the Future
Recently, Praxis strutted into the spotlight by securing a hefty $15 million in Series A funding led by the big guns of the crypto world: Paradigm Capital, Alameda Research (you might’ve heard they had a moment in the sun!), and Three Arrows Capital. They certainly aren’t shy about grabbing the proverbial bull by the horns when it comes to financing their ambitious urban fantasies.
Transitioning from Scarcity to Abundance
What sets Praxis apart from other urban development initiatives is its mission to pivot away from the monotonous metaverses that have flooded the market. Instead of chasing artificial scarcity, they aim to pour crypto wealth into well-designed homes, parks, and regenerative agriculture. It’s a radical departure, and let’s be honest, one that might just make those art jpegs look like yesterday’s news.
The Future Address: Mediterranean Dreaming
While Praxis hasn’t yet inked a deal for their new urban oasis, they’ve set their sights on the Mediterranean. A land abundant in history, sun, and a distinctly European flair? Count them in! During a recent chat on YouTube, Dryden Brown emphasized, “We are not trying to be a total sovereign nation or something like that.” Instead, the team is looking to collaborate with a local government to create a win-win scenario. Now that’s teamwork!
The Investment Landscape
In addition to their prestigious lead investors, the funding round boasts the likes of Apollo Projects and Robot Ventures. The journey started last year when they raised $4.2 million from influential names in the tech sector, including the illustrious Winklevoss twins. If you’re keeping score, that’s quite a lineup!
Paradigm’s Increasing Influence
As a fun fact to wrap this up, Paradigm recently outpaced a16z to become the largest crypto venture capital fund, gathering a staggering $2.5 billion for its New Venture Fund. With that level of investment prowess, you can bet that Praxis is on the radar of the biggest players in crypto innovation.
