China built a WATERCUBE for olympics.

BEIJING (AP) -- The "Watercube" swimming venue -- an iconic, futuristic structure for the 2008 Olympics that looks like a building covered in bubble wrap -- was unveiled Monday in Beijing.

Beijing Olympic organizing committee president Liu Qi and Beijing Mayor Guo Jinlong both dipped their hands into the competition pool and seemed satisfied at the brief unveiling ceremony. Guo even put the pool water to his lips.

Known officially as the National Aquatics Center, the Watercube has been dubbed the "cool" building of the Games because of its translucent, blue-toned outer skin that makes it look like a cube of bubbles.

Forty-two gold medals will be up for grabs at the venue during the Olympics, which start Aug. 8. American Michael Phelps will be out to break Mark Spitz's record of seven gold medals. He just missed the mark in 2004, winning six in Athens.

"There are many different buildings in the world, and I believe this could be one of the most significant sports venues," said Zheng Fang, an architect and chief of the design team for China Construction Design International.

The Chinese company collaborated with Australian company PTW Architects.

"The building is very innovative in how it appears," said John Pauline, a lead architect with PTW. "The aesthetics are cutting edge. In that respect it's incredibly unique."

The venue has 6,000 permanent and 11,000 temporary seats. Like the 91,000-seat National Stadium -- the "Bird's Nest," which will be completed in March -- both are seen as works of art and will anchor the Olympic Green area.

While some argue the gargantuan "Bird's Nest" could become a white elephant, the Watercube has been built for conversion to a shopping area and leisure center with tennis courts, a water park, retail outlets, nightclubs and restaurants.

"This building was designed for use after the Games," Pauline said. "We were looking at 30 or 40 years from now."

The outside and inside skin is made of a Teflon-like material -- ETFE, or ethylene-tetrafluoroethylene. Composed of two layers, it's separated by an interior passage that allows the building to breathe like a greenhouse.

The maintenance could be complicated. At the unveiling it was clear the bubbles needed cleaning, soiled by Beijing's dirty air. Officials said this would take about a week and would be done periodically.

The exact cost of the building has been shrouded in secrecy, with estimates ranging from US$150 million (euro102 million) to more than US$200 million (euro136 million). The original cost estimate was about US$100 million (euro68 million). Much of the building was financed by US$110 million (euro75 million) in private contributions from people in Hong Kong, Macau and Taiwan.

The Watercube and Bird's Nest are located several hundred meters (yards) across from each other, situated on either side of a "sacred" north-south axis and promises to shift development. The venues are eight kilometers (five miles) due north of Tiananmen Square -- the world's largest public plaza -- and the Forbidden City.

There will be 37 venues for the Olympics. Beijing is the site of 31 -- 12 new, 11 renovated, and eight temporary structures. Most are located in four clusters in the north of the city. Five more venues for soccer and sailing are located outside Beijing, and equestrian events will be held in Hong Kong.

The Watercube will host a test event this week. Though it hasn't drawn a top field, at least one swimmer can't wait to test the water.

"It's an important meet for me," said Swedish sprinter Stefan Nystrand, who competes at 50 and 100 meters. "I think it's great to be here since it's the same pool as the Olympics. I don't know why more top guys aren't showing up."