SNEAK PEEK
- ApeCoin DAO plans a Bored Ape-themed NFT hotel in Bangkok with a $356K funding request.
- The proposal includes 50 free nights for ApeCoin holders and acceptance of ApeCoin for payments.
- Voting on the hotel proposal ends August 1, with 90% of DAO members currently in favor.
The ApeCoin DAO is contemplating a significant investment in a Bored Ape-themed NFT hotel located in Bangkok.
Submitted on July 19 by the pseudonymous member DeSmart, the proposal outlines plans to refurbish an existing hotel in downtown Bangkok with Bored Ape Yacht Club (BAYC)-themed rooms, an ApeCoin-branded bar, and a swimming pool. The project’s estimated cost is $356,000 in ApeCoin tokens.
DeSmart’s proposal requests funds to transform the hotel and to provide benefits for ApeCoin holders. The plan includes offering 50 nights of free accommodation, with a limit of one night per holder.
This initiative aims to boost the visibility and utility of ApeCoin while generating revenue for the DAO. The proposal stipulates that 50% of the revenue from the themed rooms will be reinvested into the ApeCoin DAO for one year.
To secure a free night, ApeCoin holders must demonstrate membership in the ApeCoin forum, maintain a balance of more than 1 ApeCoin, and publish a promotional tweet with pictures of the themed room and feedback on their experience.
A significant feature of the proposed hotel is its acceptance of ApeCoin as a payment method. This move is intended to showcase the practical use of ApeCoin in real-world transactions and to encourage its circulation.
DeSmart stated that preliminary discussions and site inspections have been completed, with a favorable response from a hotel in Khlong San, Bangkok. The hotel management has expressed strong support and readiness to collaborate on the project.
The proposal has gained substantial support within the ApeCoin DAO, with 90% of votes favoring the project as of the latest update.
Voting is set to conclude on August 1. Among the most costly elements of the renovation are the rooftop bar and swimming pool, which together account for a combined expense of 100,000 ApeCoin tokens, equating to approximately $87,000 at current rates.
In April, the ApeCoin community approved a separate initiative to register “.APE” as a new top-level domain with ICANN, the governing body for internet domains. Currently, ApeCoin is trading at $0.85, a significant drop from its peak of $26.70 achieved shortly after its March 2022 launch.
