The popular nightclub MORE, a VIP area in the Hyde nightclub located in the Bellagio hotel and casino in Las Vegas, launched its own cryptocurrency MORE coins. Owning 5,000 MORE coins automatically makes you a MORE member. The club currently has 1,500 members and since the club membership is based on the coins owned, this number fluctuates daily. The coin is traded on the Bittrex exchange and is built on the Ethereum blockchain with a price of $.015 each and a daily trading volume of $201.
The club’s staff are all trained on how to accept cryptocurrency as a form of payment including other cryptocurrencies such as bitcoin or ether. Of course they also accept USD if a member does not wish to purchase by using the coin, however it is required to gain entry into the club in the first place. The prices of all of the services and products offered are listed in USD - a certain bottle of champagne they offer is priced at $250,000.
At first glance, it might seem like just another Las Vegas nightclub, but offering cryptocurrency payments is what makes the club different from all others. Club owner Peter Klamka said “MORE Coins is the intersection of nightlife and crypto demonstrating a real-world application of blockchain tech.” People want to incorporate this technology more and more into all avenues of their lives. It is only a matter of time until this happens to the fullest extent.
Being a brick-and-mortar business, Klamka does have plans to expand the the cryptocurrency nightclub idea to other locations such as Miami, and develop a business model where people can buy and sell memberships through a blockchain network.