(MENAFN- Khaleej Times)
Dubai will soon get a new landmark – the crypto Tower.
Capitalising on the popularity of this new mode of payment and new-age technologies, Dubai Multi commodities Centre (DMCC) and REIT Development on Wednesday launched the 17-storey crypto Tower to cater to the growing number of companies in the blockchain, DeFi and Web3 segment in Dubai.
Interestingly, blockchain technology will be used to streamline tenant interactions and transactions through the use of on-chain voting mechanisms, shared resources, smart contracts and other automated services.
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This will build greater trust and transparency and reduce administrative load, setting a new standard in community decision-making and management.
Spread over 150,000 square feet of leasable space, the tower will feature nine floors of advanced offices tailored for crypto startups and established businesses. Three floors will support blockchain incubators, venture capital firms and investment companies, while a dedicated floor will cater to artificial intelligence (AI) innovation.
The Crypto Tower will feature a 10,000-square-foot indoor event space, complemented by a 3,500-square-foot outdoor area for crypto and blockchain events. The top three floors will house a 30,000-square-foot crypto club for networking and leisure amenities.
The Tower will also have high-end features such as an NFT art gallery, a gold bullion shop, an exotic car dealership and a dedicated vault storage area offering 5,000 square feet of secure space for valuables including gold, cash and cold wallets.
Construction is expected to be complete by Q1 2027, with full operations beginning shortly thereafter.
“The Crypto Tower is a pioneering development that sits at the interface of blockchain, Web3 and real estate. With over 150,000 square feet of leasable space, including nine office floors, three dedicated floors for blockchain incubators, an AI innovation floor, a crypto club, a gold bullion shop and a vault storage area, the tower will provide a range of cutting-edge facilities and services for the benefit of our members,“ said Ahmed Bin Sulayem, executive chairman and CEO of DMCC.
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