Vegas Nightclub Launches Its Own Cryptocurrency
August 16, 2018 1:21 pm
As the consumer interest in cryptocurrencies continues to grow, an increasing number of companies are capitalizing on the opportunity.
The Hyde club at Bellagio Hotel in Las Vegas was launched in April 2018 by Peter Klamka. Klamka is known for his involvement with The Legends Room, a gentleman’s club which allows its users to tip in Bitcoin.
The club offers all the bells-and-whistles you’d usually find in any high-end Vegas club. There’s even a bottle of champagne that costs $250,000 a pop. The club also offers a breathtaking view of the Bellagio Fountains.
However there’s a catch, the Hyde club requires cryptocurrencies without which you cannot gain entry. The currency that is used by the club is called MORE. The token doubles as a membership fee as well. Furthermore, if a user owns more than 5,000 MORE coins, it makes them a MORE Las Vegas member.
The coin can be traded on the Bittrex cryptocurrency exchange. The MORE coin is currency valued at 15 cents. The MORE Las Vegas is a special VIP area present inside the Hyde nightclub. The nightclub itself is located inside the Bellagio casino and hotel.
The prices of all the products are listed in USD, though a user can also make payments using cryptocurrencies. The club has 1,500 members presently. As the club offers membership based on the coins owned, the number varies day-to-day.
At the first glance, it would seem like this is another nightclub that will add to the glamour to the existing nightlife of Las Vegas. However, the application of cryptocurrencies is what makes this club stand out. Klamka has said that he has plans to expand this concept to clubs in Miami and other cities. It will provide users with a way to buy and sell the club membership by the use of MORE coins.