Crypto investors try private islands into blockchain

Crypto investors try private islands into blockchain

Cryptoland and Satoshi Island believe they will become havens where the crypto economy can flourish.
Crypto investors try private islands into blockchain

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Cryptoland and Satoshi Island believe they will become havens where the crypto economy can flourish.

For as long as cryptocurrencies have existed, libertarians have dreamed of using them to create communities, seas, and cities free from the prying eyes of the state and its tax collectors. We have seen crypto-inspired attempts to reclaim disputed land as tax havens, use UFOs and fireworks to christen a new tax-free Bitcoin city, build cities with DAOs, and establish communities within US colonies to avoid taxes. But now there is a wave of attempts to buy entire islands and build the next crypto “paradise”.

The first to watch is “Cryptoland,” founded by Max Oliver and Helena Lopez, who reportedly has a checkered history with the Spanish community of YouTubers mired in accusations of doxing and the resulting boycott of a linked awards show. At the couple. Cryptoland entered the public mind when its unlisted 18-minute animated sales pitch was found on YouTube in December. It features three sections full of bombastic rhetoric about what’s to come, a manifesto of sorts, a memorial to Bitconnect, arguably the most infamous scam in Bitcoin history, and promises to “make cryptocurrencies enrich harmonious coexistence with world energy.” of your surroundings.”

Since going viral, Cryptoland has removed its unlisted sales pitch, but a shorter public version is still available for viewing.

The first section is a minute-long introduction to Cryptoland as a “paradise made by crypto enthusiasts for crypto enthusiasts” and its three main proposed areas: Cryptoland Bay, House of DAO, and Blockchain Hills. The bay is best thought of as a massive theme park for any and all crypto-related memes that have ever existed – the video promises it will include a beach, a resort, a “job center” and more. the future of blockchain technology. The Hills will be the “jewel in the crown” as an exclusive residential area that you can only access if you purchase a one-acre parcel of land available as an NFT.

The video continues with a 10-minute-long animation that’s best described as an unhinged fever dream fueled by a talking Bitcoin tour guide, a measly amount of crypto jokes every step of the way, a weird dance number, and more. It’s total suffocation by the blockchain meme; the island is called “SHITCOI N” and the toilet paper is made from dollar bills and labeled “WIPE PAPERRR” (which, for the blissfully uninitiated, is a devious play on the term “white paper” and the stimulus meme “money printer go brrrr”).

It’s also hard to overstate how important the creators of Cryptoland see this widely mocked video to their mission. 

“We quickly realized that it was virtually impossible to convey all of this with a PDF or something because it’s so abstract,” Oliver says in the video. Crypto Kitties, are things that we know people will understand if they see them. So, after a lot of brainstorming, we came up with the idea of ​​creating a 3D animation video. The movie had to be amazing but also very precise at the same time because we have to be sure that we can deliver.

As The Next Web pointed out in its island dive and Wikipedia editor Molly White in a Twitter thread sharing her research on the project, there are a few issues that stick out even beyond Cryptoland’s wild marketing video. Take the fact that the island mentioned in your “Why Paper” (an island in Fiji called Nananu-i-cake) is still for sale on at least two websites, despite the project’s website claiming that has obtained an “island purchase agreement”. And then there’s the small size of the island compared to the grandiose plans: It’s only 600 acres or less than a square mile. Or surprising tweets: When a Twitter user asked Cryptoland what the age of consent would be, the Cryptoland Twitter account replied, “Mental maturity should be more than enough! ;)”

However, one thing that is certain is that Cryptoland is selling NFTs. They feature the talking Bitcoin mascot from the video and are divided into two types of NFTS. King Cryptolander NFTs that cost 319 ETH (just over $1 million), of which there will only be 60. The remaining 9,940 will be standard Cryptolander NFTs that cost on average around 0.11 ETH (about $350). If you plan to splurge on a King Cryptolander NFT, you may want to slow down as you need to confirm that you are not a US citizen when purchasing them.

“We have been the victims of what appears to be a planned attack to harass, vilify and misrepresent our work,” Cryptoland said in a statement responding to waves of criticism after the presentation went viral. “We condemn all false information and false accusations being spread about Cryptoland and invite those who are truly interested to do their own research and politely ask us if they want to know anything about this amazing project.”

Cryptoland did not respond to Motherboard’s request for comment.

Cryptoland is not alone. Satoshi Island is another crypto utopia supposedly in the works, featuring a 32 million square foot (about 1.1 square miles) island in Vanuatu, an archipelago of islands between Australia and Fiji. It is slightly larger than Cryptoland, but has much less information available.

Their website indicates that the island is owned by Satoshi Island Limited, but there is no information on who runs the company or how beyond a Team section that lists some of the people involved. It also claims to have “a green light from the Vanuatu Ministry of Finance and all approvals in place.” The motherboard has contacted various offices in Vanuatu to confirm this but has not received a response. Satoshi Island told Motherboard that they have owned the island for a few years, but when asked about ownership of the company, he said, “Some of the public team and advisors have legal control of the company” and pointed to the section Equipment.

The “master planning and development process” is carried out by James Law Cybertecture, a Hong Kong architecture firm animated by the belief that “our work can alleviate the suffering of all segments of society.” While the founders and main backers are obscured, Law is portrayed as one of the public faces in press releases and on the site promising to design the island according to his vision.

“Modular development is the future of city building, instead of decades it will be completed in a few years,” reads a quote from Law prominently featured on a website. What does that mean? from Well Law features modular units that can be “combined and placed in hundreds of positions to create unique homes, apartments, services, and offices. Imagine clear shipping containers with softer edges.

To help pay for this, there will be two types of NFTs that, like Cryptoland, are not yet available: Citizenship and Land NFTs The first words of the Citizenship section are a disclaimer warning: “Satoshi Island Citizenship NFTs have no bearing on Vanuatu Citizenship 21,000 Citizenship NFTs will be minted with the first edition awarded via airdrop to early investors, the project says, and Citizenship NFTs will automatically blacklist the owner. NCA for early access to future NFTs and airdrops, like Land NFTs. They will also be the first authorized on the island and gain access to “advanced NFT security features” that are set by the payees if wallet access is lost and the trustees intend to stop unauthorized transactions by registering wallet addresses. as co-signers. Citizenship NFTs will also grant voting rights: In a strange combination of Athenian democracy and universal suffrage, each wallet can only hold one citizenship NFT that grants one vote. “One NFT. One vote,” the site proudly declares.

This brings us to Land NFTs, which are distinct from Citizenship NFTs. Satoshi Island told Motherboard that it will be dividing each of its 2,100 land lots into 10 individual NFTs, for a total of 21,000 NFTs divided across 7 collections. The first collection, the South Wing Land Collection, will comprise 5,620 individual NFTs and will be supposed to be released in January or February. A recent press release hints at a process by which they can be converted into a non-fungible property token (NFPT), at which point the holder will need the help of the island to convert this NFPT into a traditional deed registered in the land registry. from Vanuatu.

It is important to note that, for both islands, almost none of this exists yet. It’s unclear if any of this will ever exist, as the details offered are not only relatively sparse and confusing, but it’s unclear if it’s possible even if tens of millions are not raised through NFTs and other means. hello, Island is just two examples of a growing trend, it is starting to look like bespoke crypto utopias are another bubble within a bubble.

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