The "Network State" project Praxis has announced a funding of 525 million USD, with angel investors including Arch Lending, Manifold Trading, as well as Dan Romero, CEO of Farcaster, and Max Novendstern, co-founder of Worldcoin. The new funds will be used to build a cutting-edge technology city to support the development of cryptocurrency, artificial intelligence, energy, and biotechnology.

Odaily Planet Daily News: The "Network State" project Praxis announced on Tuesday that it has raised $525 million in financing, with contributions from angel investors including Arch Lending, Manifold Trading, Farcaster CEO Dan Romero, and Worldcoin co-founder Max Novendstern. Previously, the project had received funding from Paradigm, Alameda Research, and Three Arrows Capital.

The new funds will be used to build a cutting-edge technology city that supports the development of cryptocurrency, artificial intelligence, energy, and biotechnology.

A report by The Wall Street Journal indicated that the location for the future Praxis city has not yet been determined. The project's website also shows that it has nearly 14,000 "Praxians" living around the world.

The "Network State" project Praxis raises $525 million, with participation from Farcaster CEO and Worldcoin co-founder among others.