Cryptocurrencies have become a big gamble for investors and businesses that are looking to shake things up. These currencies provide an opportunity to obtain large rewards, yet their track record is not the most reliable or predictable.
MORE Las Vegas, a special VIP area of the Hyde nightclub inside the Bellagio, launched in April and is the first cryptocurrency nightclub in the city. Run by Peter Klamka, an investor who’s had previous experience with Bitcoin as a form of payment in clubs, the business created its own coin which serves as token and membership.
Related Story: HTC Is Developing Phones That Are Blockchain Friendly
“MORE Coin is the intersection of nightlife and crypto demonstrating a real-world application of blockchain tech,” Klamka told Mashable.
If you own over 5,000 MORE coins then you’re a member of the place, even though the membership number changes periodically. A spokesperson for MORE said that there are over 1,500 members of the club, making it a pretty exclusive and nascent bunch that’s probably filled with people that are already involved in the blockchain business.
The staff accepts regular dollars or cryptocurrency as payment, so the club is not missing out on patrons that don’t know what cryptocurrency is. According to Klamka, there are plans of opening up other spots in different cities and selling and buying memberships via blockchain.
Related Story: Despite All Odds Bitcoin Is Back, Sort Of
Despite the fact that the largest cryptocurrencies on the market, Bitcoin and Ethereum, have had a bad year in terms of business and scams, people are still dazzled by the idea of cryptocurrency. No one knows where the technology is going or what it can do, they just know that cryptocurrency is different and that it might provide them a chance to get rich and do something that’s never been done before.