Dubai's Crypto Tower to Feature NFT Gallery

Dubai is set to construct a 17-story 'Crypto Tower' in the Jumeirah Lake Towers area, spearheaded by the Dubai Multi Commodities Centre (DMCC) and REIT Development, to bolster its position as a global blockchain and Web3 hub. The tower will provide 150,000 square feet of leasable space, with nine floors dedicated to office spaces for crypto startups and established firms, and additional floors for blockchain incubators, venture capital, AI innovation, a crypto club, and more. Dubai aims to use blockchain technology for tenant interactions, including on-chain voting and smart contracts, to streamline processes and enhance transparency. The project reflects Dubai's ambition to compete with major hubs like the US in the blockchain sector, with completion expected by Q1 2027. Key features of the tower include a 10,000-square-foot indoor event space and a 3,500-square-foot outdoor area for blockchain events, alongside various amenities like an NFT gallery and vault storage for valuables. This development aligns with Dubai's broader strategy to establish itself as a leader in financial technology innovation.