Dubai, renowned for its revolutionary projects, is set to inaugurate the world’s first Bitcoin Tower. This hotel project, both physical and virtual, showcases digital assets and Web3 in the United Arab Emirates. Announced at the COP28 meeting, the project, initiated by Salvatore Leggiero, incorporates cutting-edge technologies such as blockchain and the metaverse.
Dubai, world leader in Crypto unveils first Bitcoin Tower
Dubai continues to push back the boundaries in new technology and asserts itself as a global crypto hub by positioning itself as a leader in this field. The city is preparing to host the world’s first Bitcoin tower, a project initiated by developer Salvatore Leggiero.
The formalization of this announcement took place on Wednesday May 24th at an event dedicated to architecture, in the presence of the famous designer Simone Micheli. During this event held at the Bella Restaurant Lounge in Dubai, Leggiero and Micheli unveiled their collaboration in the construction of the Bitcoin Tower.
This emblematic 40-storey tower marks a real-estate revolution, linking digital and physical assets. Featuring cutting-edge technologies such as blockchain and Web3, it will emphasize sustainability and play a key role in reducing CO2 emissions.
Hotel guests will also benefit from rewarded with non-fungible tokens (NFT) tokens, offering the possibility of annual returns. The world’s first Bitcoin tower will thus mark a new era for blockchain- and web3-based hospitality.
The reach of the Bitcoin tower goes beyond its physical presence, as it will also have a virtual version in the metaverse. As for its precise location, it is not yet definitive. But the project’s designer is seeking approval for its construction near Sheikh Zayed Road, Dubai’s main road.
Project details revealed
At the meeting of the COP28 in Dubai, Salvatore Leggiero, the real estate developer behind the Bitcoin Tower, has shared details about the project as well as visual glimpses of its design. The tower will offer a multitude of services and actively support blockchain and Web3.
In an interview, Leggiero explained that this project was the combination of his two passions: real estate and cryptocurrency. He also emphasized the importance of openness and community involvement.
In an interview with Cointelegraph, he even raised the possibility of creating a decentralized autonomous organization (DAO) for this project.
We will have many, many contributions from the community and the Bitcoin Tower must be an open project, like what Satoshi Nakamoto teaches us.
Leggiero’s statement
Leggiero is deeply convinced that the realization of its ambitious project, the construction of the first Bitcoin tower, will further consolidate the UAE’s position as a leader in the cryptocurrency field. This innovative initiative highlights Dubai’s unwavering commitment to new technologies. Indeed, this visionary move comes at a time when the UAE is more determined than ever to promote crypto and Web3 on a global scale.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
