ApeCoin DAO is voting on an ambitious proposal to open a Bored Ape-themed hotel in Bangkok. According to the proposal submitted by DeSmart, the project would entail remodelling an existing hotel in downtown Bangkok, which would include sundry features inspired by the world-famous Bored Ape Yacht Club and perks for ApeCoin holders.
Bored Ape Hotel Proposal
The proposal calls for $356,000 in APE tokens to fund the renovation. The hotel would feature APE-themed and decorated rooms, an APE bar, a pool, and exhibits highlighting ApeCoin, ApeChain, and the broader community. DeSmart argues that this would essentially increase ApeCoin’s visibility and usability from its current status and might possibly spur real revenue generation for the DAO.
The hotel would have a number of advantages for holders of the ApeCoin cryptocurrency. For example, 50 free nights—with a single night per holder. The idea is to provide an incentive to the community of ApeCoin by increasing the cryptocurrency’s utility.
Moreover, 50% of the proceeds from the APE-themed rooms, which shall include APE, BAYC, Otherside, Apechain, and Mocaverse, will be returned to ApeCoin DAO for a period of one year from when they are completed. The other aspect of the proposal is that the hotel accepts ApeCoin as a method of payment, further giving the currency applications in the real world.
Benefits to Holders of ApeCoin
The hotel could offer several other benefits to ApeCoin holders, including free access to the rooftop bar for any event, free entry to MBA-themed exhibitions, and several community participatory activities. The emphasis is, therefore, on community engagement and interaction with scheduled events every two months to enhance the relations between the members.
The proposal also aims to further brand exposure by setting up themed exhibitions, bars, and rooms to promote the ApeCoin ecosystem to the maximum extent possible. The hotel’s management is also interested in this proposal, and according to DeSmart last May.
According to DeSmart at the time, “We have conducted on-site inspections and reached an intention of cooperation with a hotel in downtown Bangkok. They are very interested in and supportive of our ideas and proposals and will fully cooperate with our team in implementing this project.”
Community and Economic Impact
The reaction from the ApeCoin DAO, at the time of writing, has been overwhelmingly positive, with 87.72% of the vote translating to approximately 4.8 million APE to ‘Yes’ and 12.28% translating to approximately 672,000 APE ‘No.’
It comes at a time when ApeCoin itself is trading at $0.84 and seeks new innovative projects to bring interest back to its cryptocurrency. The Bored Ape-themed hotel is one of the more creative ways that one could think of thus far regarding integrating cryptocurrency with real-world applications.
Editor’s note: Written with the assistance of AI – Edited and fact-checked by Jason Newey.
