On the evening of May 24, Salvatore Leggiero, developer of the forthcoming Bitcoin Tower, officially launched the project at an exclusive architecture-focused event by 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 Tower, which will have a version in the metaverse and a physical building.

In an interview, Leggiero told Cointelegraph that the project combined two of his passions. The executive has years of experience in real estate development and acquired a passion for Web3 during the pandemic.

“I spoke with many crypto experts, but with all due respect, they don’t understand so much regarding real estate. And, I spoke with many, many important developers also in the city but with all due respect, they don’t understand crypto,” he explained.

Salvatore Leggiero presented the target land plot for the construction. Source: Cointelegraph

The developer said that because of this experience, he imagined a project that would match his expertise in real estate and his passion for crypto — and the idea for the Bitcoin Tower in Dubai was born.

Leggiero also told Cointelegraph that he wants the project to be an open project, mentioning the possibility of creating a decentralized autonomous organization (DAO) for the project. He explained:

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“We will receive many, many inputs from the community because Bitcoin Tower must be an open project, like what Satoshi Nakamoto teaches to us.”

He added that having a DAO seemed very natural for the project because decentralizing decision-making contributes to making an “eclectic experience for the future.“

Designer Simone Micheli presented his design for the metaverse version of the Bitcoin Tower. Source: Cointelegraph

The tower will have a virtual version, which will be launched in the metaverse, and a physical version, which will be built in Dubai. While the location is not yet final, Leggiero hopes to get the approval to build the tower near Sheikh Zayed Road, where the famous Dubai skyline resides.

Related: UAE infrastructure for crypto is more ‘business-friendly’ than the US, says exec

Leggiero also told Cointelegraph that having a symbol like the Bitcoin Tower would have several benefits for the region. The developer believes that the project could solidify the UAE leadership’s position on cryptocurrencies.

In addition, the developer highlighted that it could also provide a hub for the crypto community, both those who live in Dubai and those who are visiting for the many crypto events in the region.

“I have something that I think gives the idea of this evolution of real estate and revolution of the market of hospitality. Bitcoin Tower will be the first of a chain. This is what I dream,” he added.