‘Satoshi Island’ in Vanuatu is Offering Citizenship NFTs

‘Satoshi Island’ in Vanuatu is Offering Citizenship NFTs
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lifestyle

‘Satoshi Island’ in Vanuatu is Offering Citizenship NFTs

Satoshi Island in Vanuatu is a real-world blockchain use case in which citizenship, assets, and rights are all non-fungible tokens (NFTs) are on top of a decentralized financial system.

01/13/2022

A real-world blockchain use case Satoshi Island in Vanuatu, in which citizenship, assets, and rights are all non-fungible tokens (NFTs) constructed on top of a decentralized financial system that exclusively operates in cryptocurrency, Crypto News Australia.

The Island has 297-hectare private holding in the South Pacific hidden amid the other islands of Vanuatu. They will develop the Island to become a sustainable smart city dedicated to the crypto community.

Satoshi Island with blockchain technology

The developers hope to establish a meeting place for crypto fans and professionals, with the goal of becoming “the crypto capital of the globe.” Individuals who want to become citizens and own land on the island can do so by purchasing a Satoshi Island NFT.

They will also design the Island with blockchain technology at its core, allowing it to run the first real-world crypto economy based on a decentralized financial system and blockchain-based democracy.

In addition, the island’s developers also welcome crypto projects to set up shop, providing the community with networking possibilities as well as a place to live and also work among like-minded people. With activities planned throughout the year, residents merely need to keep an ear to the ground.

Early visitors will be met by classic-style villas, as the first stage of development has already been completed. The island will be progressively developed as the project advances, with ultra-modern modular sustainable residences and offices designed by famous Hong Kong-based architectural firm Cybertecture.

This is not an unusual concept; just last month, a group of cryptocurrency investors raised funds by crowdfunding a Decentralized Autonomous Organization (DAO) to purchase a tokenized island in the Bahamas.

Benefits of holding a Citizenship NFT

Anyone can visit Satoshi Island but owning a Citizenship NFT entitles you to special perks. According to the project’s website, they will distribute the first-edition citizenships via airdrop to early donors.

The benefits of holding a Citizenship NFT are:

  • voting rights on policies that govern the island.
  • access to long-term accommodation at lower rates not available to short-term visitors; and
  • citizenship holders with Land NFTs can develop property on their chosen space.

By Elah Mae Ariate Wozinga Staff

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