In the country of Vanuatu, located in the South Pacific Ocean, is the island of Satoshi, near Australia, which claims to be the world center of everything that surrounds cryptocurrencies. And for this it is looking for bitcoin lovers to inhabit it and make a community.
This Satoshi Island is owned by the company Satoshi Island Holdings Limited (SIHL), whose goal is to make it the first home for professionals and enthusiasts of bitcoin and cryptocurrencies. “The island is already owned by our company and is located in Vanuatu, between Australia and Fiji,” they said on Twitter.
After several years of legal and political work behind it, SIHL has obtained the green light from the Vanuatu Minister of Finance to begin the construction and development of the project. The island, whose name is due to , will have a digital property system, based on blockchain, which will serve to verify the property of each individual, that is, each property within the island will be an NFT.
Satoshi Island NFTs will be slightly different than traditional ones. They will have greater security and will require greater involvement from users. One of the characteristics of these NFTs will be the implementation of a “beneficiary” system, which means that each token will function as a testament or last will, although in this case you will not need a notary.
So far, the response from the people could not have been better. According to The Sun newspaper, some 50,000 people would have been interested in living in this small space. The island, which is expected to be physically visitable by 2023, can now only be inhabited through the metaverse.
“These initiatives are becoming more common every day and with the expansion of the metaverses these economies are going to multiply”
To do this, the developers have already set to work to build modular houses, at 60,000 euros each, which are scheduled to go on sale in the second quarter of 2022. In addition, a total of 5,620 NFT of citizenship will be awarded for free to early supporters.
With all this, who knows if we are facing a new form of expansion. “These initiatives are becoming more common every day and with the expansion of the metaverses these economies are going to multiply,” says Silvia Leal, an expert in technology and social networks. “Investors of this type are more courageous when it comes to establishing any innovation and here they are going to bet on a sustainable ecosystem than traditional investors,” explains Sergio Álvarez Teleña, an expert in new technologies and founder of ‘SciTheWorld’.
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