Satoshi Island: DAO based Society getting Ready
Though I was planning for months to become a bit more active on the information-sharing front, it seems I need at least two weeks to pick up writing again. This time one for those who LOVE Crypto and DAO in combination with our Real-Life World. That's correct, this one is not about anything virtual, but all about applying crypto to our lives, in form of land, real estate and much more.
Over the years quite a few ideas around new forms of real-life communities and their governance were born and died again, mostly starving a quick death. Though the exception to the 'rule' was born about four years ago. This one seems to get all the basics done and arranged in such ways it can pass towards the next step: true execution.
Let me introduce you: Satoshi Island
What is Satoshi Island?
Well. It's pretty simple. It's an Island in the Pacific Ocean. An island that will be developed crypto style. Governed by its own DAO (yes, that's democracy to the max). It's an island part of the country: Vanuatu. Vanuatu is a collection of islands of which at least one of those was in private hands: Lataro. The Satoshi Island Ltd made a deal with 1) Vanuatu government to get their consent to build the first ever crypto 'country' in the world, 2) the owners of Lataro island to get all the rights of the land to build out the first ever smart city in the world.
Too Late? Yes? ... No!
Before everything happened, I planned to write and publish this post. In that sense, the phrase 'Too Late' may be applied. However, it's not too late at all to participate in this life (and maybe even generations) lasting project. Land NFTs are for sale at the moment which is for residential use. Out of 21k land NFTs, the last 5k went in presales last week. 4k solely to Tenset's launchpad subscribers, and 1k (plus the leftovers from the 10setters) for everybody interested. Turned out that the 10setters left about 400 land NFTs unsold, therefore the general public is able to scoop up about 1400 land NFTs.
Land NFT, plots and Deed NFT
An important element of these land NFTs is that one needs 10 lands NFTs to claim a plot, the so-called Deed NFT. Only plot owners are allowed to build. The SI team knew beforehand, that not all may like to invest the funds for a whole plot, therefore tools will be provided for land NFT holders to find others and support the formation of co-operations to acquire and run a plot. See such co-operation as a miniDAO. Together with the other members of the miniDAO the rules can be set on the what, how and when for the plot. In total 21k land NFTs (for residential use) were created of which a lot was already sold in earlier and private rounds. Buyers include businesses like Tenset, MMPro and many others that didn't announce yet.
The idea is that the whole island will be developed in about three years. The SI team thinks this is possible by pre-developed, in-factory build modules for living, working, event and entertainment spaces. James Law, architect and CEO of Cybertecture, develops modular homes/offices already for quite some time and he took one of those designs to tailor it to the needs of Satoshi Island. The modules are modularly built with many options and variants from which plot owners can select. The Key is that these modules are self-sufficient including solar power and whatnot. But also that it can withstand the weather conditions on Satoshi Island. And obviously, modularity is key. One can start with a single module and expand over time if one likes to do so. Modules will be shipped and installed by the company.
So much to tell about all this, I could fill a whole book. Since nobody reads books here at HIVE/LEO, I propose to ask your questions in the comment section below and I'll provide you with the answers.
When Tenset came onboard to become the launchpad for the land NFTs, the payment token for this new land was pulled forward. Obviously, the Tenset team wanted to give something solid to their launchpad subscribers since such subscriptions don't come cheap.
21M Satoshi Island Tokens will be minted and will be the max. Never ever will be more tokens created. A larger part of these tokens was sold to the 10setters, about 9k of them. The public sale was also executed and sold out in less than a minute. All this happened last week.
What I personally like about this token is that it is the only token that will be accepted for anything on Satoshi Island, from groceries to restaurants, to office/home rentals and whatnot.
The other aspect that I really like is the fact the team and original owners of the island have a 12 months cliff for their tokens. That basically means the SI Ltd team as well as the original owners of the island can't dump their tokens in the first 12 months. What project in the crypto universe does that? I know just a very very very few who did something similar.
An SI Citizenship (in NFT form), one needs to hold to get access to the island. These are already given out to the early birds, earlier this year. Minting still needs to happen. It is expected many will become available on the open market. When land NFT owners can't get access to said SI Citizen NFT, or such NFT is too expensive, the SI team promised they will solve this. Keep in mind that the Citizenship NFT was given for free to 21k peeps (well, wallets I presume). Visitors will be allowed with eg a special visitor permit in form of... of course, an NFT. Details will be left to the DAO to decide. Since the plan is to have businesses on the island including event centres and all, some form of temporary visiting permit is an absolute must.
Note: When one likes to become a resident, next to a Citizenship NFT from Satoshi Island, a residency permit from the Vanuatu government is required. However, such residency is relatively easy to get. Some minimal investment into the country is required. However, one can also stay long(er) term on the island based on tourist access of 6 months with easy extension to a year and longer. The SI team will support such requests, which is what they promise over and over again.
As the paragraph title suggests, it is about obvious aspects of this project. Obviously, the SI team thought of everything. Hospitals will be used from Vanuatu with quality and service levels brought to western standards, funded by SI. Education (schooling for kids and all) will be made available on the island. Security will be arranged through private companies (in combination with the police of Vanuatu). Public infrastructure will be created, from water supply and energy grids to roads and whatnot.
Many details are not decided yet, since the peeps who started all this want the DAO to decide what and how to do things. For instance, the idea is to launch a stablecoin next to STC, the token I introduced above. It'll be the DAO that will handle this topic, as it'll need to handle many other topics.
The most asked question in crypto space, other than 'wen launch' and 'what is the price on the open market after launch'. I lost the energy to get agitated whenever such stupid questions are asked (please: read the website and documents). These days I just laugh. And I can tell you, every single day I laugh for many many minutes up to a quarter and even half an hour; Just about such silly behaviour and ignorant peeps in the crypto universe 😂
but but but, am digressing...
The reason for this paragraph is to get your mind starting to think about this project becoming successful.
This new 'country' doesn't have a mayor or prime minister. It doesn't have ministers, local government peeps and all that. No tax office. No unemployment office. Nothing of that. It has a DAO aka Decentralised Autonomous Organisation. Each Citizen NFT holder represented by an NFT, will have voting rights. Proposals can be created and voted for. 21k NFTs will be eligible to vote, 21k votes to direct what will happen in this relatively small new society. A country in which we can live the crypto way.
Note that I write 'country' with the ' since it's not an official country in that it is recognised by the UN. However, the deal with the Vanuatu government is that the rules for this island are under the control of the citizens of this island. Obviously, Vanuatu laws also apply, but these are the obvious laws we need in any society anyways.
Wen successful: Think of it.
When this new society can pull it off, the setup for SI could become the new standard to roll out across our planet earth. We can transform current countries into DAO-based communities. All in real life!
That is the question.
For you: Will you like to participate? Or stay on the sidelines?
For sure, the SI team, and many land NFT holders are looking forward to the next steps which include: a mirror of SI in a metaverse, a social place for land NFT holders to meet, converse and decide on working together (or not), a marketplace to sell and buy land and citizenship NFTs.
The plan is by year-end (yes, end of 2022) the first part of the island is developed. The first modular homes are installed in order for people to visit the island. At first, for land NFT, plot owners and citizenship NFT holders only (though the exact rules are not set, these are the ideas at the time of writing).
In my previous blog post I used the 'endnote' concept. This time around, I really can't use one. Tooooo much to tell. Tooooo little space to write all I wanted to write to you. Therefore, shoot all the questions you may have to me. Use the comment section, the most logical feature to use here :) I'll for sure will provide you with answers. And when I don't know the answer, I'll get it for you.
And what about Links?
Well, I gave you some links to check throughout the post. Just click those words that are shown to you in a different colour, or with a stripe below the word (depends a little on the UI and browsers used how they are shown to you). To make it easier for you, I also provided the links below, including a few extras.
- Project/Community website
- News: Telegram
- Community: Telegram
- Public Sale: Land NFT
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I like the idea and the concept and there are still a lot of things to polish, but it's definitely a great start! We need more of these crypto communities/states in the real life as that is the right way to change things...
We will not change our environment by "patching" stuff, we need a new mindset and start from zero... Satoshi Island is maybe a small plot of land, but it's a start!
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I totally agree we need to start from zero and create proof we can build societies managed and governed in novel new ways. For sure this project is in it's early days, but the basics are done right. Something many other ideas/projects/teams weren't able to setup. Basically, land is arranged and deal done with the government. Two must haves. These are major milestones for a project like this.
All land NFTs are sold from SI project point of view. The remaining 700-something land NFTs are in ownership of 10set. This basically means, from SI project point of view, they are ready to take the next step. Another major milestone. Am looking very much forward to the metaverse and community channels, as well as all the businesses that bought land and plots in private sales rounds, and their announcements. Am pretty sure the SI project will hit TV news channels again any time soon, like it did back in early Q2'22.
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too many questions !! is this for real or is it in a metaverse...cos reading through the blog i get confused.
Have a read on how btc is being adopted for use in real life situations here... is fascinating.
This is 100% for real! DAO based community on their own land....well, small island 🎶
The metaverse they create will be a mirror of the island to help peeps to design their plot and to allow land NFT owners to meet, converse and potentially to form co-operations to get the necessary 10 land NFTs to together to claim a plot of land on this island. Real plot of land.
Wow, that's a cool story about the Surfer Kids and this township. Never heard of it. I think it deserves more attention. I do hope more of those projects are started around the globe. We need to experiment with these new ways of communities that are made available with crypto technology.