Photo: Tima Miroshnichenko / Pexels
The digital nation startup is partnering with a smart-city project near Colonia del Sacramento, targeting $1 billion in investment over three years
Praxis, the New York-based startup that has spent years building an online community around the idea of founding a new city, has finally picked a spot on the map. The self-described “digital nation” founded by Dryden Brown and Charlie Callinan announced it will build its first physical settlement in Uruguay, with plans to welcome initial residents by mid-2027.
The project is targeting $1 billion in investment over the next three years.
The site and the partner #
Praxis is setting up shop at +Colonia, a 515-hectare waterfront development near Colonia del Sacramento, roughly an hour’s ferry ride from Buenos Aires. The smart-city initiative is led by Argentine entrepreneur Eduardo Bastitta, and it’s not starting from scratch. Construction at the site began in 2022, with 120 hectares of infrastructure already developed.
Brown, Praxis’ CEO, plans to relocate to Uruguay as early as December 2026. Land acquisition for Praxis’ specific parcels is scheduled to begin in late 2027, meaning the initial residents will likely be living in +Colonia’s existing and planned developments before Praxis builds out its own dedicated sections.
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What Praxis actually wants to build #
Praxis describes its mission in terms that blend Silicon Valley futurism with an almost nostalgic attachment to classical Western aesthetics. The stated goal is to create a community centered around “AI-enhanced governance” and cultural institutions designed for what the group calls a “post-AGI future.”
David Weinreb, who serves as vice chairman, brings real estate credibility to the leadership team. The project’s financial backing includes investment from Apollo Projects. It also historically received funding from Alameda Research, the trading firm founded by Sam Bankman-Fried that imploded spectacularly alongside FTX in late 2022.
The crypto and AI intersection #
Praxis sits at an interesting crossroads between the crypto world and the broader tech ecosystem. The project emerged from the same intellectual milieu that produced network states, a concept popularized by former Coinbase CTO Balaji Srinivasan, which envisions online communities eventually acquiring physical territory and seeking diplomatic recognition.
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