ApeCoin DAO, the decentralized autonomous organization responsible for ApeCoin, is considering a proposal that could bring Bored Ape-inspired luxury to the heart of Bangkok.
The plan, submitted by DeSmart, a pseudonymous member of the DAO, envisions transforming an existing hotel in downtown Bangkok into a Bored Ape-themed establishment complete with APE-inspired rooms, an APE-themed bar, and a swimming pool.
To materialize this vision, DeSmart is seeking $356,000 worth of APE tokens.
The funds would be utilized to renovate the hotel, creating an immersive experience for guests and offering several benefits for ApeCoin holders.
Bored Ape-Themed Hotel to Grant Holders Free Accommodation
In a bid to enhance the visibility and utility of ApeCoin, the proposal includes granting ApeCoin holders a total of 50 nights of free accommodation, limited to one night per holder.
The initiative aims to generate actual revenue for the ApeCoin DAO while rewarding its loyal community.
According to DeSmart’s proposal, 50% of the revenue generated from the APE-themed rooms would be directed back to the ApeCoin DAO for one year following their completion.
To qualify for a complimentary night’s stay, ApeCoin members would need to demonstrate their membership in the ApeCoin forum, maintain a balance of more than 1 APE, and publish a promotional tweet showcasing their experience in the themed room.
In addition to the immersive experience, the proposed hotel would also accept ApeCoin as a form of payment.
“Hotel rooms and bars will accept ApeCoin for payment, demonstrating ApeCoin’s applicability in the real world and encouraging circulation and usage,” the announcement reads.
DeSmart Has Conducted On-Site Inspections
DeSmart has already conducted on-site inspections and established a cooperative understanding with a hotel in Khlong San, Bangkok.
The hotel management has shown keen interest in the proposal, expressing support for the ideas put forth by the ApeCoin DAO.
The community has responded positively, with 90% of the current voting in favor of the proposal.
The plan includes various developments, such as the rooftop bar and swimming pool, which carry a combined cost of 100,000 APE tokens (equivalent to $87,000 at current prices).
ApeCoin, currently trading at $0.85, has experienced a significant decline from its all-time high of $26.70 shortly after its launch in March 2022.
However, the exploration of innovative projects like the Bored Ape-themed hotel demonstrates the resilience and creativity of the ApeCoin DAO as it seeks to revitalize interest in its unique cryptocurrency.
It is worth noting that there has been a trend of companies discontinuing their involvement in the NFT space.
Back in March, Starbucks, the renowned multinational coffee chain, made the decision to terminate its NFT rewards program.
In January, gaming retailer GameStop announced the closure of its NFT marketplace after scaling back its crypto services over the past two years.
More recently, X, under the ownership of Elon Musk, discontinued a feature that allowed premium users to use NFT images as their profile pictures.
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