ApeCoin DAO, the decentralized autonomous organization (DAO) behind ApeCoin, is considering a proposal to launch a Bored Ape Yacht Club (BAYC)-themed hotel in a “prime location” in Bangkok.&nbsp;
DeSmart, the pseudonymous DAO member who submitted the July 19 <a href="https://snapshot.org/#/apecoin.eth/proposal/0x6747c1e678671befb802c38277043a9c2aaa285ce13fbc3d45a9583a4495acf8" target="_blank" rel="noopener noreferrer nofollow">proposal</a>,&nbsp;would see a preexisting hotel in downtown Bangkok renovated with several BAYC-themed rooms, an ApeCoin-themed bar, and a swimming pool.
They’re requesting $356,000 in ApeCoin (<a href="https://cointelegraph.com/apecoin-ape-price-index" rel="noopener noreferrer nofollow">APE</a>)&nbsp;tokens to complete the proposed work. DeSmart has previously said that they’ve already&nbsp;
Outside of pure aesthetics, part of the costs would be to provide a range of benefits for <a href="https://cointelegraph.com/tags/apecoin" rel="noopener noreferrer nofollow">ApeCoin </a>holders, including a total of 50 nights of free accommodation for holders, capped at 1 per holder, which DeSmart said would increase the “visibility and utility of ApeCoin” as well as generate “actual revenue” for the ApeCoin DAO.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-07/54628f3c-e824-4f1a-a883-655b17c08aaa.jpeg" alt="ApeCoin holders mull proposal for Bored Ape-themed hotel in Bangkok" title="">
 <figcaption style="text-align: center;">Image of the APE-themed rooftop bar included in the proposal. Source: ApeCoin DAO
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50% of the revenue from all of the APE-themed rooms will go back to the ApeCoin DAO for one year after they’re completed, according to DeSmart’s proposal.
To receive one night’s free accommodation, the ApeCoin member would have to show they are a member of the ApeCoin <a href="https://forum.apecoin.com/" target="_blank" rel="noopener noreferrer nofollow">forum</a>, have a balance of more than 1 APE, and publish a promotional X post featuring “pictures of the themed room and any positive experiences or feelings they want to share” to receive a cashback payment for their stay.
Another core feature of the planned hotel would be to accept ApeCoin as payment in a bid to demonstrate “ApeCoin’s applicability in the real world and [encourage] circulation and usage.”
In May, DeSmart <a href="https://forum.apecoin.com/t/aip-448-apecoin-hotel/23961" target="_blank" rel="noopener noreferrer nofollow">said</a> that they’ve already conducted onsite inspections and reached an “intention of cooperation” with a hotel in Khlong San, Bangkok.&nbsp;
“They are very interested in and supportive of our ideas and proposals and will fully cooperate with our team in implementing this project,” said DeSmart in a post on the ApeCoin forum.
Related: <a href="https://cointelegraph.com/news/nft-sales-plummet-44-percent-memecoins-steal-mind-share" rel="noopener noreferrer nofollow">NFT sales fell 44% as memecoins stole ‘mind share’ in Q2</a>
The proposal has proved popular among members of the DAO so far.
At the time of publication, 90% of the voting was in favor of the proposal, while 10% opposed it. Voting ends on Aug. 1 this year.
The rooftop bar and the pool are among the most expensive items on the list of proposed developments, costing a combined total of 100,000 APE tokens worth $87,000 at current prices.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-07/c513a4cd-c61f-4c40-80c2-e88f32b25605.png" alt="ApeCoin holders mull proposal for Bored Ape-themed hotel in Bangkok" title="">
 <figcaption style="text-align: center;">The proposed list of expected costs associated with developing the APE-themed hotel. Source: ApeCoin DAO
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On April 3, the ApeCoin community <a href="https://cointelegraph.com/news/ape-coin-dao-favor-ape-top-level-domains" rel="noopener noreferrer nofollow">unanimously approved a proposal</a> to register “.APE” as a new top-level domain with the Internet Corporation for Assigned Names and Numbers, the world’s top authority on IP addresses and domain names.
ApeCoin is currently trading at $0.85, <a href="https://cointelegraph.com/news/apecoin-is-down-70-since-the-otherside-launch-can-yuga-labs-turn-the-ship-around" rel="noopener noreferrer nofollow">down over 96.8% from</a> its all-time high of $26.70 notched roughly two months <a href="https://cointelegraph.com/news/apecoin-slides-40-in-three-days-despite-otherside-metaverse-land-sale-here-s-why" rel="noopener noreferrer nofollow">after its launch in March</a> 2022.
<figure data-ct-non-breakable="true"><img src="https://s3.cointelegraph.com/uploads/2024-07/eccdafa6-13f1-4f15-bdc8-8ee20299bb6d.png" alt="ApeCoin holders mull proposal for Bored Ape-themed hotel in Bangkok" title="">
 <figcaption style="text-align: center;">The price of ApeCoin is down nearly 97% from its all-time high. Source: CoinGecko
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Magazine:&nbsp;<a href="https://cointelegraph.com/magazine/bali-indonesia-crypto-digital-nomad-remote-work-cointelegraph-magazine/" rel="noopener noreferrer nofollow">Become a Bali crypto digital nomad like me: Here’s how</a>

ApeCoin holders mull proposal for Bored Ape-themed hotel in Bangkok

Cointelegraph

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