Satoshi Island is here, and it is your chance to live in paradise. This decentralized island project is coming soon, and to live in this utopia, all you need is one of their NFTs. This unique island in the South Pacific is currently under transformation into the ultimate crypto city.
Modular homes are under construction, and there have already been over 50 thousand applications to live on the island.
The name, ‘Satoshi Island’, is a salute to the anonymous creator of Bitcoin, Satoshi Nakamoto. Significantly, they will operate on cryptocurrency, and all fiat forms of payment are not allowed.
To many of us, private islands are the stuff of dreams, a world away from our day to day life. Thanks to decentralization, NFTs and crypto, you can enjoy a slice of paradise. Located in the remote South Pacific country of Vanuatu, this 32-million-square-foot private island is a “place for the crypto community to call home.”
When can people live on Satoshi Island?
The team behind this audacious project includes Denys Troyak, James Law, Taras Filatov and Benjamin Nero. They first came up with the idea in 2017, at the peak of a massive bull run. Since then, they have been working on putting the plan into action.
Now, after finding a suitable island in the tropical country of Vanuata, the plan is coming to fruition. The NFT marketplace is coming soon, and with the full support of the Vanuatu government, the building is underway. Those lucky enough to be a part of the fantastic project can expect to move into their paradise home in 2023.
The Satoshi Island team state that the “concept started as an idea to have a place for the crypto community to call home, and the actual island was chosen years after.” In fact, “it took many years to find the right island and get everything together to release to the public.”
Because of the popularity and emergence of NFTs, they will now play a pivotal role in the entrance process to the island. Although they have received over 50,000 applications, there are only 21,000 investors or resident places.
NFT ownership is at the core of this enormous project. Basically, to live on Satoshi Island, you need to own one of the Satoshi Island Land NFTs, giving you full ownership of the home.
Furthermore, NFT holders can “turn their digital rights into physical documentation on the official land registry of Vanuatu.” Satoshi Island aims to become the world’s crypto capital, and this future city offers enormous potential.
Vanuatu wants to build for the future.
The team set out to find a location for ‘Satoshi Island’, with two main objectives. Firstly, they wanted somewhere remote but not inaccessible to hinder the building process. Secondly, they wanted a place that isn’t at risk from climate change and natural disasters.
After a long search, they found Vanuatu. This Archipelago, the Republic of Vanuatu, consists of 83 islands and offers beautiful weather and tropical fauna and flora. In addition, they had to ensure that the government owning the land was open to the idea of a crypto city.
In fact, Vanuatu loves the idea, and according to the Satoshi Island team, “The government showed a willingness to innovate and were open to discussions right away.”
Moving forward, the team will build the modular homes using the latest and best sustainable methods. All of the energy on Satoshi Island will come from renewable sources. Reportedly, The Vanuatu government wants to create a digital economy in a future-thinking space that will create jobs for the people who live there.
Finally, the NFT marketplace for Satoshi Island will launch soon. There is no official price for the NFTs yet. However, we cannot wait to see how Satoshi Island looks in the coming years. Remember that the NFTs will grant access to the island and so much more. What’s more, the NFT island will open up for short term visits towards the end of the year.
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