Satoshi Island is here, and it’s 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 South Pacific island is currently being transformed into the ultimate crypto city.
Modular homes are being built and there have already been over 50,000 applications to live on the island.
The name, “Satoshi Island”, is a tribute to the anonymous creator of Bitcoin, Satoshi Nakamoto. Significantly, they will operate on cryptocurrency and not all forms of fiat payment are allowed.
For many of us, private islands are a dream, far from our daily lives. Thanks to decentralization, NFTs and cryptography, you can enjoy a piece of paradise. Located in the remote South Pacific country of Vanuatu, this 32 million square foot private island is a “place where the crypto community can call home.”
The team behind this bold project includes Denys Troyak, James Law, Taras Filatov and Benjamin Nero. They first came up with the idea in 2017, at the height of a huge bull run. Since then, they have been working on implementing the plan.
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 Government of Vanuatu, construction is underway. Those lucky enough to be part of this fantastic project can expect to move into their heavenly home in 2023.
The Satoshi Island team states that “the concept started as an idea to have a place where the crypto community could settle, and the actual island was chosen years after.” In fact, “it took many years to find the right island and put everything in place to make it public”.
Due to the popularity and emergence of NFTs, they will now play a central role in the process of entering the island. Although they received more than 50,000 applications, there are only 21,000 investors or places of residence.
The ownership of NFT is at the heart of this huge project. Basically, to live on Satoshi Island, you must own one of Satoshi Island Land’s NFTs, which gives you full ownership of the house.
Additionally, NFT holders can “transform their digital rights into physical documents on the official land registry of Vanuatu”. Satoshi Island has ambitions to become the crypto capital of the world, and this future city holds enormous potential.
The team set out to find a location for “Satoshi’s Island”, with two main goals. First, they wanted a remote but not inaccessible location to impede the construction process. Second, they wanted a place that wasn’t threatened by climate change and natural disasters.
After a long search, they found Vanuatu. This Archipelago, the Republic of Vanuatu, consists of 83 islands and offers good weather and tropical flora and fauna. Additionally, they needed to make sure 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.”
Going forward, the team will build the modular homes using the latest and best sustainable methods. All of Satoshi Island’s energy will come from renewable sources. According to reports, the government of Vanuatu wants to create a digital economy in a future-oriented space that will create jobs for the people who live there.
Finally, the NFT market for Satoshi Island will be launched soon. There is no official price for NFTs yet. However, we can’t wait to see what Satoshi Island will look like in years to come. Remember that NFTs will grant access to the island and more. Additionally, NFT Island will open for short-term visits towards the end of the year.
Are you tired of missing significant NFT drops?
Just check out our NFT schedule!
Get the biggest NFT news of the day and recommendations in our Daily newsletter.
All investment/financial opinions expressed by NFTevening.com are not recommendations.
This article is educational material.
As always, do your own research before making any type of investment.
