Real estate developer Salvatore Leggiero has officially shared the preliminary design of the Bitcoin (BTC) Tower in Dubai, saying that the tower will have both a physical and virtual version in the metaverse.
Below are all the details.
Bitcoin (BTC) Tower project in Dubai unveiled
On the evening of 24 May, Salvatore Leggiero, developer of the following Bitcoin (BTC) Tower, officially launched the project at an exclusive event centered around the architecture of designer Simone Micheli.
The private event was held at the Bella Restaurant Lounge in Dubai, United Arab Emirates. During the event, Leggiero and Micheli presented their collaboration for the Bitcoin (BTC) Tower, which will have a version in the metaverse and a physical building.
In an interview, Leggiero stated the project combined two of his passions. In reality, the executive has years of experience in real estate development and acquired a passion for Web3 during the pandemic:
“I’ve talked to numerous digital currency specialists, but with all due respect, they don’t understand much about real estate. And, I’ve talked to numerous, numerous major developers in town likewise but with all due respect, they don’t understand cryptocurrencies.”
The developer stated that through this experience, he envisioned a project that matched his experience in real estate and his passion for digital currencies, and the idea for the Bitcoin (BTC) Tower in Dubai was born.
Leggiero likewise expressed his desire regarding the project being open, mentioning the likelihood of creating a Decentralized Autonomous Organization (DAO).
In reality, he stated the following:
“We will get numerous, numerous inputs from the community because Bitcoin (BTC) Tower must be an open project, like what Satoshi Nakamoto teaches us. Having a DAO will come very naturally to the project as decentralizing the decision-making process helps create an eclectic experience for the future.”
How will Leggiero’s Bitcoin (BTC) Tower be built?
As anticipated over, the tower will have a virtual version, which will be launched in the metaverse network, and a physical version, which will be built in Dubai. Despite the fact that the location is not is still final, Leggiero hopes to get approval to build the tower near Sheikh Zayed Road, where Dubai’s famous skyline resides.
Leggiero likewise stated that having a landmark like the Bitcoin (BTC) Tower would be beneficial to the region. In reality, the developer thinks that the project could solidify the UAE’s leadership position on crypto.
Additionally, the developer noted that it can potentially provide a hub for the cryptocurrency community, both for those living in Dubai and those visiting for the numerous cryptocurrency events in the region:
“I have something that I think gives the idea of this real estate evolution and hospitality market revolution. Bitcoin (BTC) Tower will be the 1st in a chain. This is what I dream about.”
UAE is ideal for crypto
At the past few Dubai FinTech Summit event, Saqr Ereiqat, co- founder of deal building company Cryptocurrency Oasis, spoke about the UAE’s infrastructure and how it could be ideal for cryptocurrencies.
In reality, Ereiqat noted that there are plenty of factors that corporations should consider when thinking about where to set up their corporations. Reports by him, this includes the country’s regulatory infrastructure, digital infrastructure and its capacity to attract a worldwide talent pool.
Needless to emphasize, the UAE possesses all of these qualities. Additionally, Ereiqat likewise compared the UAE with the United States in terms of regulatory rules.
Ereiqat acknowledged that the UAE and the United States have their “strengths and weaknesses” in the case of the cryptocurrency space, on the other hand, he claimed that the UAE has taken a more positive approach to digital currency regulation.
As he stated:
“The UAE’s regulatory framework is more streamlined and business-friendly than the complex and fragmented regulatory environment in the United States.”
Along with this, the executive likewise indicated that the region has a whole lot of amount of capital, which could potentially help cryptocurrency corporations when attempting to raise funds for their projects.