Abra, a global platform for digital asset services, announced it has partnered with Praxis, the first network state, to collaborate on real world asset tokenization, as well as DeFi services to network states, including those created on the Praxis platform.
This partnership marks the launch of Abra’s new Digital Asset Solutions initiative.
Network states build their population, community, and institutions “initially online, crowdfunded with cryptocurrencies, to cultivate a shared way of life and a vision for the future.”
Next, they coalesce neighborhoods and build new cities.
Today, Praxis has thousands of Citizens “from dozens of countries who have built technology companies worth over $400B.”
Praxis is backed by funds including Paradigm, Bedrock, and angels “including Shervin Pishevar, Sam Altman, Joe Lonsdale, and Balaji Srinivasan.”
Praxis and Abra intend to create “an on-chain database of real estate, businesses, citizenship, contracts, marketplaces, and other on-chain DeFi (decentralized financial) services that interact seamlessly with both online communities and physical cities.”
While details of Abra’s new Digital Asset Solutions initiative will be released in the coming weeks, Abra intends, as “part of this initiative, to provide a tokenization and DeFi platform for network states and cities created on the Praxis platform.”
This platform will enable:
- Tokenization of physical assets, including land and real estate.
- Issuance of tokens representing membership or citizenship, land ownership and governance within the network states.
- Integration of governance frameworks that allow for decentralized decision-making.
- Opportunities for earning yield through DeFi protocols.
- Lending services, allowing members to lend their assets and earn interest.
- Facilitation of payments and execution of transactions for various asset types.
Abra intends to extend its asset management platform to tokenized land purchases, including:
- Bitcoin and Ethereum-backed loans: Loans secured by Bitcoin and Ethereum holdings to finance the acquisition of tokenized assets within network states.
- Real estate token-backed loans: Loans collateralized by tokenized real estate within the network states.
Bill Barhydt, CEO of Abra, said he believes Praxis and Abra have the opportunity to take a leadership role in the sector.
Shervin Pishevar recently joined Abra as Co-Chairman, is a Praxis Advisor, as well as Co-founder of Sofreh Capital and EdisonAlpha, and one of the founders of the new cities network state movement.
Regarding the Abra and Praxis partnership Shervin commented:
“As a globally recognized leader in the digital asset markets and a strong believer in the decentralization movement,