Satoshi Island: A Crypto Utopia in the Making
Satoshi Island, formerly known as the Vanuatu archipelago, is a remote island found partway between Australia and Fiji in a remote corner of the South Pacific.
The island remains mostly untouched by humanity, home to a sprawling rainforest and dwindling population of rare coconut crabs, as well as Anthony Welch and his partner Theresa, owners of all 32 million square feet of this tropical island paradise.
The island is set to be among the very first of its kind, a crypto economy, where everything on the island is paid for with cryptocurrencies, and all ownership is represented with NFTs. A plan as ambitious as that of its namesake, Satoshi Nakamoto, the pseudonym used by the anonymous inventor or group of inventors behind Bitcoin. Satoshi Island is far more than a luxury resort, after all, accessibility and equality have always been the building blocks for this decentralized economy, which is exactly why it will not merely be another billionaire’s playground.
After initially putting the island up for sale, the couple was approached by a group of experienced entrepreneurs with the plans for the island and went on to form a partnership. Satoshi Island would be a place for the crypto community to call home. For Welch, a retired British property investor, sustainability is at the heart of their smart city design, centered around solar-powered apartment buildings and offices for crypto investors from around the globe. Slowly but surely, the team is making headway with their ambitious strategy. They took their time choosing the ideal location for their venture, ensuring they were fully compliant with the local legal regulations in force before going public with their vision and timeline.
The island needed to be secluded enough to give people privacy, but not so remote that greenfield development would become challenging. The island also couldn’t be in a location that is highly susceptible to being affected by natural disasters in the future or set to be severely impacted by the effects of climate change in years to come.
50,000 people have applied for free citizenship NFT to Satoshi Island, giving them the right to participate in the island’s land NFT sale (the Satoshi Island method of purchasing homes) and reside on the island. These NFTs can be traded or even turned into physical documents via the Vanuatu land registry.
However, there is one “real world” element that cannot be bypassed before entering this crypto utopia. While NFT ownership gives you the right to live on the island, inhabitants must also purchase Vanuatu citizenship at a cost of $130,000. Vanuatu citizenship stipulates visa-free travel between 129 countries, including wider Europe (all 26 Schengen countries) and the UK.
Satoshi Island is neither an exclusive resort nor a tourist destination, its blueprint is centered around permanent residents who are willing to build a home on the island and stay there year-round. Set to become something of a world capital for the crypto community, this is a home for crypto enthusiasts and early adopters who are ready to make the leap to using crypto full time.
A community filled with optimism, Satoshi Island is an opportunity to try doing things differently, building an entirely new type of civilization from scratch.
Physical development is underway, with the island’s first visitors set to arrive in late 2022 to preview their new way of life, before making the move to living on the island full time in early 2023.
Would you move to this utopia in the making? If you’re a crypto enthusiast like us, you’re probably considering it. While the island of our dreams is being built, all we can do is enjoy trading crypto from the comfort of our own homes. And what better trading companion than Your Friendly Crypto Exchange? Join IXFI and take your financial future into your own hands.
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