A space nation, founded by a Russian billionaire, is promising its citizens to the opportunity to one day leave earth and live in space.
Asgardia was founded by Russian billionaire Igor Ashurbeyli in 2016 and already has a constitution and an elected parliament.
During his official inauguration on Monday, he said: "We have thus established all branches of government. I can therefore declare with confidence that Asgardia - the first space nation of the united humankind - has been born."
He added: "This day will certainly be recorded in the annals of the greatest events in the history of humankind."
The businessman also laid out his intentions for creating space arks. which could operate in 10 to 15 years with plans to eventually settle his new nation on the moon within the next 25 years.
Asgardia has over 200,000 citizens, but aims to reach a population of 150 million.
Despite previously claiming that citizenship would cost 100 euros a year, a spokeswoman later confirmed that it was "just a proposal at this stage, and it is still entirely free to join Asgardia until anything has been formally approved by parliament".