First Bitcoin Tower to Be Built in Dubai

UTC by staff writer · 3 min read
First Bitcoin Tower to Be Built in Dubai
Photo: Depositphotos

The Bitcoin Tower will be a center that will host blockchain conferences and also promote AI and cryptocurrency initiatives.

The upcoming COP28 Summit scheduled for Dubai has inspired the construction of a Bitcoin Tower, a Bitcoin-shaped and Bitcoin-themed hotel in the heart of the United Arab Emirates city.

40-story Monument to Bitcoin

The Bitcoin Tower will be a 40-story architectural monument that will represent the values that Bitcoin has bestowed on mankind.

A May 21 release by Metaverse Investment LLC, the company behind the concept of the Bitcoin hotel and towers, stated that the initiative will celebrate the importance, value, and controversies around Bitcoin, the top cryptocurrency. The statement added that the hotel will embody the blockchain technology that underlies the working of Bitcoin, as well as promote artificial intelligence and the reduction of carbon emissions, which have been of concern to environmentalists.

Rewards for Customers

The planned hotel will also embrace a staking and reward system for customers. According to Salvatore Leggiero, the lead developer behind the project, rental fees paid by customers are considered staking investments that will yield redeemable APYs in a way that has not yet been applied by any other platform. He added that the project will be the first hotel to reward patrons by paying them back the rental fees with interest. This unique reward approach involved the gifting of non-fungible tokens to hotel customers as well as other incentives.

Represented in the Metaverse

Simone Micheli said that the Bitcoin Tower will be depicted in a virtual universe using a unique concept different from what is applied in conventional construction. The renowned architect said that the virtual reality created will give visitors experiences that are unimaginable.

As a part of the initiative, Salvatore said that the team is inviting creators, designers, artists, architects, and crypto enthusiasts to make submissions that will be used either as exclusive NFTs or in the internal design of the Bitcoin tower as what he called ‘an asset of exceptional tangible value.’

More Ways to Experience Crypto

Speaking on the initiative, the top investor in the project and the CEO of Metaverse Investment LLC said that the project is a reflection of the growing importance of cryptocurrencies in people’s lives.

“This innovative approach to hospitality reflects the growing importance of cryptocurrencies in today’s society and is an excellent way for people to experience and learn more about them,” he said.

Introduction to Stakeholders

The project has been slated for introduction on Wednesday, May 24, 2023. The event will be held at the Bella Restaurant Lounge of the Grand Millennium Business Bay in Dubai. There’ll be an exclusive evening, even for stakeholders and VIPs. The renowned chef Alessandro Miceli is expected to grace the occasion.

Arabian Chain Piece, a Dubai-based company, has been tipped to build the Bitcoin Tower, the very first architectural tower masterpiece dedicated to the premier cryptocurrency and the technology behind it.

Bitcoin News, Cryptocurrency News, News
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