At a prestigious architecture-focused event hosted by designer Simone Micheli on May 24, Salvatore Leggiero, the bitcoin tower developer, formally unveiled the impending Bitcoin Tower.
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.
The executive has extensive real estate development experience, and throughout the pandemic, he developed a passion for Web3 while Leggiero revealed to Cointelegraph in an interview that the initiative brought together two of his interests.
“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 spoke with in the city did not comprehend crypto, he added.
The developer claimed that as a result of this encounter, he dreamed up 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.
The Bitcoin Tower
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 many, many inputs from the community because Bitcoin Tower must be an open project, like what Satoshi Nakamoto teaches to us.”
Having a DAO, he continued, seemed like a very logical choice for the project because decentralizing decision-making helps create an “eclectic experience for the future.”
A virtual version of the tower will be unveiled in the metaverse, while a physical version will be constructed in Dubai.
Leggiero intends to receive authority to build the tower close to Sheikh Zayed Road, where the famed Dubai skyline is located, even if the location is not yet set in stone.
He also told Cointelegraph that the area would benefit from having a landmark like the Bitcoin Tower. The project’s creator thinks it might bolster the UAE government’s stance on cryptocurrency.
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