All images courtesy of Satoshi Island Holdings Limited.
A self-proclaimed “crypto paradise” is coming to a remote South Pacific island nation with designs from Hong Kong-based firm James Law Cybertecture for what is being billed by developers as the world’s first blockchain-based democracy.
Named after Bitcoin inventor Satoshi Nakamoto, the 800-hectare private island in Vanuatu will be divided into seven separate “NFT zones” and 21,000 individual parcels that can only be purchased as NFTs. The development of Satoshi Island will include a range of sustainability measures such as solar panels and a specialized waste management system, combined with the goal of 100% self-generated energy to move away from crypto’s energy-intensive mining process.
Residential buildings on the island come in a vaguely modular, mid-century prefab form designed by Law to allow for flexible user-created design, starting at $60,000 — just over 1 BTC per unit. Each is assembled off-site before being transported to the island.
A promotional video for the development claims the homes will be ready for the first wave of “short-stay visitors” beginning as early as the third quarter of this year, with holders of “Citizenship NFTs” (5,620 of which will be given away for free). qualifying OpenSea users).
Passport applicants with a magic number of 21,000 Twitter followers are automatically granted “citizenship” to increase interest and ownership of Satoshi Island. Reports say permanent residents will be able to move in early next year.
The ambitious attempt to attract a new class of crypto-rich homesteaders now joins the ZHA-backed Liberland development and El Salvador’s Greek-inspired Bitcoin City on a list of Web3 programs promising real ROI to the growing digital nomad market.