Although the International Space Station (ISS) is still in operation, private space companies and crypto-fueled billionaires are competing to take its place in low Earth orbit. California startup Vast aims to be the first to launch a commercial space station into orbit. Founded by billionaire Jed McCaleb, Vast is working with Elon Musk's SpaceX for the expedition. McCaleb is currently funding the venture himself.
The company's space station — Haven-1 — is tentatively scheduled for launch on a SpaceX Falcon 9 rocket in August 2025. The firm then plans to send a four-person crew in the Vast-1 craft, which will go into orbit on a SpaceX Dragon. This will enable a crew to spend up to 30 days in space. The company is taking reservations for seats on Vast-1 from space agencies and astronauts as well as individuals involved in philanthropic or scientific work.
McCaleb earned his fortune like many through the world of startups in technologies like blockchain development and cryptocurrency. He was a founder of the Mt. Gox Bitcoin exchange and also co-founded Ripple, a popular crypto protocol. With his estimated $2.5 billion fortune, McCaleb hopes to join other space-focused billionaires like Musk, Jeff Bezos and Richard Branson in exploration and innovation.
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The first Vast module, which is just big enough to fit four people, will initially operate as a crewed space station connecting to a larger station that is under development. Vast hopes to build a 328-foot-long multimodule that will produce artificial gravity through a spinning motion, but this will require lifting by SpaceX’s Starship rocket. Artificial gravity on Vast's space stations would closely mimic Earth's gravitational pull and would create more desirable living conditions for people compared to zero gravity.
Axiom Space Inc. is another company planning to launch a space station, with its first module set to deploy in 2025. NASA plans to retire the ISS in 2031 and has awarded contracts to Blue Origin, Nanoracks and Northrop Grumman to develop concepts for an alternative. Regulation will need to increase as more entities compete for space in low Earth orbit, as billionaires continue to show interest in a modern space race.
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