Dubai Set to Host World’s First ‘Bitcoin Tower’, Developer Shares Details

Dubai aims to establish itself as a hotspot for Web3 businesses and community members

The United Arab Emirates will soon be the home of the world's first ever bitcoin tower, which will be a hotel in the shape of a bitcoin. The 40-story tower will be built in Dubai, and the plan is set to be unveiled on May 24th.

Real estate developer Salvatore Leggiero has officially shared the initial design of the Bitcoin Tower in Dubai, saying that the tower will have both a physical and virtual version in the metaverse.

The World's First Bitcoin Tower In Dubai

A developer in Dubai recently unveiled plans to construct the world’s first bitcoin (BTC) tower. With the unveiling scheduled for May 24th, the project aims to demonstrate the significance of digital assets and cryptocurrencies, coinciding with the upcoming COP28 meeting in Dubai.

Salvatore Liggiero, the developer behind this venture, said the hotel will be the first of its kind, as per the Binance report. Designed in the style of bitcoin, the hotel developer plans to use cutting-edge technologies and sustainable materials, and it has a commitment to zero CO2 usage.

"It Gives You Back What You Paid"

In a unique blend of traditional hospitality and cryptocurrency, the Bitcoin Tower isn’t just a luxurious accommodation; it’s a symbol of the digital age, illustrating cryptocurrencies’ increasing importance and influence in our everyday lives. The hotel chain’s innovative approach transforms the hotel experience by offering guests exclusive NFTs (non-fungible tokens) as rewards. These tokens prove authenticity and ownership in the digital realm, granting holders exclusive privileges.

This model introduces a new facet to the hospitality industry: the rental price isn’t just a payment; it’s an investment. It is treated as staking cryptocurrency, producing an annual percentage yield (APY) that guests can claim.

In the words of developer Salvatore Leggiero, it’s “the first hotel that gives you back the money you paid, plus interest,” as per various media reports.

Not only does this project aim to educate the general public about cryptocurrencies, but it also encourages participation. Leggiero invites artists, architects, creatives, and crypto enthusiasts to submit their works.

أول برج مستوحى من البيتكوين في العالم في دبي
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-فندق على شكل بيتكوين. مكون من 40 طابقًا، يضم منطقة مخصصة للتعرف اكثر من البيتكوين

-استخدام التقنيات المتقدمة والمواد الصديقة للبيئة وصفر انبعاثات ثاني أكسيد الكربون pic.twitter.com/tYhLOUKwM7

— uaeproject (@uae_project) May 25, 2023

#bitcoin Tower In 🇦🇪Dubai

Dubai is all about embracing new technology and #Bitcoin tower is proof of that.

The tower will have a virtual version which will be launched in the metaverse and a physical version which will be built in Dubai. #Crypto #cryptocurrency pic.twitter.com/AhwbrEDDQw

— Bitinning (@bitinning) May 25, 2023

Salvatore Leggiero, developer of the upcoming Bitcoin Tower, officially launched the project at an exclusive architecture event organised by designer Simone Micheli in #Dubai

The event showcased the initial design of the Bitcoin Tower, which will have a version in the… pic.twitter.com/LU1wG0l9Or

— 𝐁𝐎𝐙𝐄𝐍𝐀 𝐑𝐎-𝐂𝐇𝐀 (@BoRoChaba) May 25, 2023

These creations will form an exclusive NFT collection dedicated to the Bitcoin Tower’s design or its internal spaces, manifesting an asset of tremendous tangible value in the digital space.

A Homage To The World's First Cryptocurrency

The architectural work hopes to serve as homage to the first cryptocurrency and to encapsulate the principles laid down by its enigmatic creator, Satoshi Nakamoto.

The bitcoin tower’s developer also wants to demonstrate Dubai’s goal to bridge the gap between digital and physical assets. To foster a collaborative environment, Leggiero encourages individuals from diverse backgrounds to participate in this endeavour, recognising the immense value that their collective expertise can bring to the project.

May 25, 2023