Nationalized NFTs are flipped on secondary NFT markets
Satoshi Island may soon become a functioning community, thanks to NFTs currently being minted. NFT citizenships are already being bought and sold on secondary NFT marketplaces. And they definitely have some interesting benefits.
Property developer Anthony Welch and his partner, Theresa, have lived on a 300-hectare island home for the past ten years. It is located in the Vanuatu archipelago between Fiji and Australia.
Currently called Lataro Island, it is transformed into Satoshi Island. Although it is mostly virgin rainforest, the plan is to turn it into a sustainable smart city, with apartments and offices.
Welch told international media that they are trying to build a real community. “We’re not trying to develop and make money.”
Welch said his business partners saw his island advertised for sale. He then withdrew it from the market to work with his new partners.
Welch said: “The team had been working to find a place for some time. The key issue was trying to find a government that would allow a community to exist on crypto transactions. Most countries in the world want to collect taxes. Therefore, they don’t want crypto transactions because they can’t monitor what’s going on. Vanuatu has no income tax of any kind.”
The Satoshi Island project is just one of several crypto schemes to attract enthusiasts to the region. Palau is located 5000 km northeast of Vanuatu. The president said he would launch the world’s first government-backed national stablecoin. There is no sign of this, but he has officially supported the Satoshi Island project.
Satoshi Island investors needed
21,000 investors are needed on the island. Without citizenship NFT you cannot buy or develop the land.
Currently, citizenship NFTs are available to whitelisted individuals. NFTs representing various property types have sold quite well. Some have even been turned over for sale on OpenSea.
According to their Satoshi Island rules, “There can only be 21,000 Satoshi Island Citizens, and it is undoubtedly exciting for the crypto community to become one. But aside from bragging about being a Satoshi Island Citizen, the Citizenship NFT has excellent utility and is required by anyone who wants to visit or live on the island, as well as those who want access to exclusive Satoshi Island software, events, citizen-only stake pools and other opportunities.”
NFTs for citizenship also provide access to the impending Satoshi Island metaverse.
The white list
For those who missed out on being whitelisted, Citizenship NFTs can be bought and sold on NFT marketplaces, so stay tuned and you’ll find one.
Satoshi Island documents state: “There are a total of 21,000 Citizenship NFTs in the collection, and there are a total of 18,000 whitelisted. The remaining 3,000 NFTs are held by the DAO to either give to projects that receive grants or will be available to society through future mints.”
Not sure you want to commit to being a full citizen? If you want to dip your toe in the water, there will soon be a resort on Satoshi Island. Enjoy!
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