May 25, 2023

1st Bitcoin Tower To Be Built in Dubai

Crypto in Dubai

Crypto in Dubai

Dubai will be the home of the world’s first-ever Bitcoin tower, which was announced to be built soon as a hotel in the shape of a Bitcoin, consisting of 40 floors, according to Ein Presswire.

Salvatore Liggiero, the developer behind this project, said the hotel will be the first of its kind in the whole world and depend on Web3-related technologies, noting it will be committed to zero CO2 usage and sustainable materials.

Liggiero pointed out that the idea of this tower showcases the growing importance of digital assets and cryptocurrencies, coinciding with the upcoming COP28 summit, expected to be held in Dubai in November.

The hotel will offer NFTs to its guests as awards with special features for their holders. Moreover, by paying in crypto, the rental prices will generate an annual percentage yield (APY) for the guests, which can be redeemed later.

In this regard, Liggiero said: “It will be the first hotel that gives you back the money you paid, plus interest.”

He also sought the virtual simulation of the Bitcoin tower in the metaverse, asking the renowned architect Simone Micheli how to turn the tower in the virtual universe.

In addition, he did not want to make the Bitcoin tower a place to educate the general public about cryptocurrencies only, but he also invited all artists, architects, creatives, and crypto enthusiasts to participate and submit their works in the form of exclusive NFTs dedicated to the Bitcoin Tower’s design or its internal spaces to give an additional value for the project.

Meanwhile, the CEO of Metaverse Investments LLC pointed out that this hospitality project reflects the growing importance of cryptocurrencies in today’s society and is an excellent way for people to experience and learn more about them.

A study in February by Recap showed that Dubai was ranked the world’s second-largest crypto hub following London.

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