Dubai to build 17-story crypto tower for Web3 hub

The Dubai Multi Commodities Centre and REIT Development have unveiled plans for a 17-story Crypto Tower in Jumeirah Lakes Towers. The tower will feature blockchain-powered tenant services to foster innovation in blockchain, decentralized finance , and artificial intelligence. With 150,000 square feet of leasable space, the building aims to accommodate the growing community of blockchain, DeFi, and Web3 companies in Dubai. Construction of the Crypto Tower is expected to be completed by the first quarter of 2027, according to a DMCC release. The tower will consist of nine office floors for crypto startups and established firms, three floors for blockchain incubators and venture capital firms, and a dedicated floor for AI innovation powered by Chatoshi.ai. You might also like: MEXC completes over $12m MX token burn in Q4 2024, enhancing token value Tower tenants to use blockchain technology The Crypto Tower will integrate advanced infrastructure to support tenant interactions using blockchain technology. These services will include on-chain voting, smart contracts, and automated processes to enhance transparency and operational efficiency. DMCC announces the launch of Crypto Tower, a new 17-storey development in #JLT , in partnership with REIT Development. Designed to support #DMCC ’s fast-growing community of #blockchain , #DeFi , and #Web3 companies, the tower features 150,000 sq. ft. of leasable space including… pic.twitter.com/esf3Z65kky — DMCC (@DMCCAuthority) January 15, 2025 Additional features will include a 10,000-square-foot indoor event space, a three-floor exclusive crypto club, and premium amenities such as an NFT art gallery, a gold bullion shop, and secure vault storage. Highlighting Dubai’s vision for innovation, Ahmed Bin Sulayem, CEO of DMCC, said, “The Crypto Tower is both a real-world demonstration of the future of Web3 and a statement of our intent to solidify Dubai’s position as the leading innovation hub.” You might also like: Crypto.com rejects the CFTC’s request to suspend Super Bowl sports contracts in 50 states: report