Satoshi Island is a 32-million-square-foot private island sanctuary in the distant South Pacific that serves as a “home for the crypto community.” Satoshi Island is a mix of honeymoon hideaway, Bond-villain hideaway, and naturalist paradise, with one perplexing exception: it’s all crypto. The Satoshi Island team of Denys Troyak, James Law, Taras Filatov, and Benjamin Nero said:
The company said that “the island plans to host events all year round, house and headquarter crypto projects, as well as becoming a gathering point for crypto aficionados globally,” citing Satoshi Nakamoto, the founder of Bitcoin (BTC).
The island could eventually “function as a decentralised autonomous organisation.” They’ve already purchased an island, obtained building permits, and received 50,000 visa nonfungible token (NFT) applications to become permanent crypto residents. Currently, an NFT marketplace is kept under wraps. The high demand of 50,000 applications will serve as a whitelist for Land NFT sale as well as allow the bearer to live on the island with many other privileges.
Every residence will be an NFT, or “Satoshi Island Land NFT,” that may be traded. Traditionalists can “convert their digital rights into real paperwork on the official land registry of Vanuatu,” according to NFT holders.
Unlike well-known flops like Fyre Festival or CryptoLand — or any other failed fantasy project from an excessively excited team of venture capitalists – Satoshi Island has a strategy in place, with significant advances ticked off in a systematic manner. To choose a place, the team combed the globe, followed the legal process, and avoided paid marketing and influencer initiatives.
During the 2017 bull run, the Satoshi Island concept “began as an idea to create a place for the crypto community to call home, and the physical island was chosen years later.” In actuality, “finding the proper island and putting everything together to be ready to reveal to the public took several years.”
First, the island had to be far enough away from civilization to provide seclusion, but not so far away that growth would be difficult. Second, the island should be safeguarded from natural disasters and should not be vulnerable to climate change. The struggle to find a suitable location was made more difficult by the fact that, while it was “undoubtedly exhilarating” to scour the globe for an island for sale, they “had to be pragmatic.”