The Satoshi Island: The Failure of the World's First Crypto Community

Source: PortaldoBitcoin Original Title: What happened to Satoshi Island, the world's first crypto community Original Link: https://portaldobitcoin.uol.com.br/o-que-aconteceu-com-a-ilha-satoshi-a-primeira-comunidade-cripto-do-mundo/ Satoshi Island, initially conceived in 2017 as a “crypto utopia,” was entirely based on blockchain technology but never came close to its promises. The project was ambitious at its inception, aiming to create a completely independent community, tax-free and organized through NFTs and digital governance.

But now, the island scene that was once inspired by the creators of Bitcoin is the opposite: the island has been abandoned, lacks infrastructure, and is threatened with disappearance due to rising sea levels.

The project began with investors renaming the private island of Lataro in the Vanuatu Islands to Satoshi Island, in honor of Satoshi Nakamoto. Reportedly, interested individuals paid 120,000 euros to purchase the so-called “digital citizenship” and a plot of land at the location.

At the time, Fortune magazine reported that more than 50,000 people supported the idea. But it lacked the basic elements: the island had no electricity, connectivity, or minimum infrastructure for sustaining life—not to mention the digital economy.

British developer Anthony Welch is one of the main planners, who told the media that the goal is “to build a community, not a real estate business.”

He leased the territory for 75 years and even tried to sell it for 12 million dollars a few years ago. However, in addition to the NFT required for Satoshi Island citizenship, candidates also need to purchase citizenship in Vanuatu itself – a “golden visa” that costs around 120,000 euros.

The local government once supported the project, but nothing was implemented, making it impossible to convert NFTs into nationally recognized property certificates.

The End of Satoshi Island

In July 2025, an announcement on X officially declared the final end of the plan. Satoshi Island has no residents, no investments, and completely lacks infrastructure. Worse still, Vanuatu is one of the countries most threatened by rising sea levels, which could result in part of the territory disappearing in the coming decades.

There is at least one interesting detail in this conclusion: Isla del Sol, the neighboring island of Lataro, has 160 hectares and is now up for sale—potentially opening the door for new enthusiasts to once again try to turn a piece of the Pacific into a utopia.