Satoshi Island - Crypto Island Paradise, is it real?
How would you feel to go on a tropical vacation and paying only with crypto? Going to paradise just with your smartphone and beach essentials? Soon you will.
Satoshi Island has 800 acres located in Vanuatu in South Pacific and contains 21,000 individual parcels of land.
Vanuatu is a crypto-friendly archipelago and is also a member of the United Nations and Commonwealth and is known for its diversity in people. All transactions on the island will be made with Bitcoin.
The island has modular homes and all the properties are sold as NFTs. These homes start at 60.000 dollars and the sales are expected to start in a few weeks. They will provide Citizenship NFTs, and the holders will have a private opening at the end of 2022, according to their roadmap. The citizenship NFT, however, does not mean actual citizenship for Vanuatu, the nation of islands that has jurisdiction over Satoshi Island.
The public opening is planned for the beginning of 2023 and the properties will be available for sale or rent.
Designed by James Law, all modular homes are sustainable and smart. Also, development on the island has 100% of self-generated energy through renewable sources.
The team advertises the project as a “real-life private island dedicated to the crypto community” and also states that you could “own a real piece of the island. Turn your crypto into a physical asset”.
As good as it sounds: “A place to visit, work and live in the first true society built around an entirely decentralized financial system and blockchain-based democracy”, some voices in the industry are not impressed by this project.
Cyens.org.cy , for example, makes a detailed analysis and states that this is not the first project to promise freedom and independence from government and tax collectors. They also compare this vision to a reinvented Ponzi scheme masked as a social innovation sustained by the digital space bubbles, the meta-trends, and our perception of reality becoming unreal as a virtual game.
Will be sure to keep an eye on this project and keep you updated, but until then, we would love to hear your opinion about the island. Would you live there?
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NFT Artist, Book Author & Marketing Strategist Passionate about Blockchain, Crypto enthusiast