The United Arab Emirates may soon be the home of a hotel in shape of a bitcoin. The 40-story tower is set to be unveiled on May 24th, says the developer.
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.
Designed in the style of bitcoin, the hotel developer plans to use cutting-edge technologies. The developer wants to use sustainable materials, and it has a commitment to zero CO2 usage. The guests will have the ability to use non-fungible tokens (NFTs) at the hotel. The NFTs offer rewards to customers.
According to the plan, guests can stake cryptocurrency, generating an annual percentage yield (APY) that can be redeemed for their rental payments. This approach allows guests to benefit financially from their cryptocurrency investments, if it works as intended.
An homage to bitcoin
The architectural work hopes to serve as a homage to the first cryptocurrency and to encapsulate the principles laid down by its enigmatic creator, Satoshi Nakamoto.
The 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 endeavor, recognizing the immense value that their collective expertise can bring to the project.