Abra, a global leader in digital asset services, has announced its partnership with Praxis, the first network state, to collaborate on real-world asset tokenization and decentralized finance (DeFi) services for network states, including those built on the Praxis platform. This marks the launch of Abra’s new Digital Asset Solutions initiative.
Network states are communities and institutions that initially form online, using cryptocurrencies to crowdsource funding, build shared values, and eventually develop physical neighborhoods and cities. Praxis, with a community of thousands of citizens from around the world and backing from notable funds such as Paradigm, Bedrock, and prominent investors like Shervin Pishevar, Sam Altman, and Balaji Srinivasan, is leading the network state movement. Praxis citizens have collectively built technology companies worth over $400 billion.
The partnership between Abra and Praxis will focus on creating an on-chain database that includes real estate, businesses, citizenship, contracts, and marketplaces, all seamlessly interacting with both online communities and physical cities.
Abra’s new Digital Asset Solutions initiative will soon launch a platform to facilitate tokenization and DeFi for network states and cities on the Praxis platform. The platform’s features will include:
- Tokenization of physical assets, such as land and real estate.
- Issuance of tokens representing citizenship, land ownership, and governance within network states.
- Decentralized governance frameworks enabling collective decision-making.
- Opportunities to earn yield through DeFi protocols.
- Lending services for asset holders to earn interest.
- Support for payments and transactions across various asset types.
Additionally, Abra’s asset management platform will extend to tokenized land purchases, offering:
- Bitcoin and Ethereum-backed loans to finance tokenized asset acquisitions within network states.
- Loans backed by tokenized real estate in network states.
Bill Barhydt, CEO of Abra, said, “As the network state movement gains momentum, Praxis and Abra have the opportunity to lead by creating a decentralized platform owned by the people. This will empower individuals, businesses, and governments to build capital and reputation within competing and cooperating network states. We’re thrilled to partner with Praxis and help enable tokenization and DeFi-based services to support their vision of network states and physical cities.”
Shervin Pishevar, Co-Chairman of Abra, a Praxis advisor, and co-founder of the new cities network state movement, commented, “Abra is the ideal partner for Praxis given its leadership in digital asset markets and its commitment to decentralization. Bill and the Abra team are pioneers in creating innovative crypto services, and this partnership will accelerate the growth of network states while adding significant value to both communities.”
Dryden Brown, founder of Praxis, noted, “Early network states will demonstrate real value through their crypto-native economic infrastructure, solving problems that traditional nation-states struggle with, such as financial access, public services, and governance. Abra fully embraces this vision, and we’re excited to collaborate with them to make it a reality.
