Asgardia is the brainchild of Russian rocket scientist Igor Ashurbeyli.
He wants it to be the first fully independent “nation” in space, with its own government, virtual currency, justice system and calendar.
At the moment, anyone can become a citizen of Asgardia.
But Dr Ashurbeyli has said he wants to attract the world’s most creative minds, and may eventually bring in a mandatory IQ test for potential Asgardians.
Dr Ashurbeyli wants Asgardia to become an official member of the United Nations, but to do so, it needs to be a functioning state or government.
Dr Ashurbeyli took the first steps towards it becoming one by holding parliamentary elections in December last year, and then later declaring himself Head of Nation.