Salvatore Leggiero, a real estate entrepreneur, predicted that the skyscraper will have an online counterpart in the metaverse.
At a prestigious architecture-focused event hosted by designer Simone Micheli on May 24, Salvatore Leggiero, the project’s developer, formally unveiled the impending Bitcoin Tower. In Dubai, United Arab Emirates, inside the Bella Restaurant Lounge, a private event was hosted.Leggiero and Micheli presented their joint project for the Bitcoin Tower, which will exist as both a physical structure and an avatar in the metaverse, at the event.
Leggiero revealed to Cointelegraph in an interview that the initiative brought together two of his interests. The CEO has extensive real estate development expertise, and throughout the pandemic, he developed a passion for Web3.
“I talked to a lot of cryptocurrency gurus, but with all due respect, they don’t really know that much about real estate. With all due respect, the numerous, significant developers I met with in the city did not comprehend crypto, he added.
The developer claimed that as a result of this encounter, he dreamed of a venture that would combine his real estate knowledge and his enthusiasm for cryptocurrencies, giving rise to the concept for the Bitcoin Tower in Dubai.
Leggiero has mentioned the prospect of forming a decentralized autonomous organization (DAO) for the project, stating that he wants it to be an open initiative. He clarified:
“We will receive a large number of community inputs because Bitcoin Tower must be an open project, as Satoshi Nakamoto teaches us.”
He went on to say that having a DAO felt appropriate for the project since decentralizing decision-making helps to create a “eclectic experience for the future.”
The skyscraper will have two versions: one virtual, which will be launched in the metaverse, and one actual, which will be erected in Dubai. While the location is not yet finalized, Leggiero intends to secure permission to build the skyscraper along Sheikh Zayed Road, which is home to the renowned Dubai skyline.
According to Leggiero, having a symbol like the Bitcoin Tower would assist the region. The developer believes that the initiative would strengthen the UAE leadership’s stance on cryptocurrency.
Furthermore, the developer stated that it might serve as a hub for the crypto community, both for those who reside in Dubai and those who travel for the region’s many crypto events.
“I have something that I believe captures the essence of this evolution of real estate and revolution of the hospitality market.” The Bitcoin Tower will be the first of a series. “This is what I imagine,” he added.