Sure. But they had better come up with a currency, nation/state political system in which others can adhere to, tax system, military, and all other things that nation-states do.

I dont think a "town", regardless of their richness, would be able to handle that.

Now, I could see the eastern seabed, with the bounds of the Appalachian mountains as a "country". I could also see the northern and southern areas between the 2 mountain ranges being their own countries as well. But not a "town".