ApeCoin DAO Considers Bored Ape-Themed Hotel in Bangkok

KEYTAKEAWAYS

TABLE OF CONTENTS

• KEY TAKEAWAYS
• DISCLAIMER
• WRITER’S INTRO

CONTENT

A proposal for a $356,000 renovation of a Bangkok hotel with Bored Ape Yacht Club trademarks is under consideration by ApeCoin DAO, aiming to increase ApeCoin’s visibility and generate revenue for the community.

The ApeCoin DAO, the decentralized autonomous organization behind ApeCoin (APE), is currently evaluating a proposal to establish a Bored Ape-themed hotel in downtown Bangkok. The proposal, submitted on July 19 by a pseudonymous DAO member known as DeSmart, seeks $356,000 in APE tokens to renovate an existing hotel with Bored Ape Yacht Club (BAYC) themed rooms, an APE-themed bar, and a swimming pool.

The project aims to enhance ApeCoin’s visibility and demonstrate its real-world utility. Key features of the proposal include:

1. 50 nights of free accommodation for ApeCoin holders (limited to 1 per holder)
2. 50% of revenue from APE-themed rooms to be returned to ApeCoin DAO for one year
3. Acceptance of ApeCoin as payment to encourage circulation and usage

To qualify for free accommodation, ApeCoin members must be forum members, hold more than 1 APE, and share promotional content on social media.

DeSmart claims to have already conducted onsite inspections and reached an “intention of cooperation” with a hotel in Khlong San, Bangkok. The proposal has garnered significant support within the DAO, with 90% of votes in favor as of the latest update. Voting is set to conclude on August 1.

The most substantial costs in the proposal are allocated to the rooftop bar and pool, totaling 100,000 APE tokens (approximately $87,000 at current prices).

This initiative follows the ApeCoin community’s unanimous approval in April to register “.APE” as a new top-level domain with ICANN, further expanding the ecosystem’s digital presence.

Despite these developments, ApeCoin’s market performance has been challenging. Currently trading at $0.85, it has experienced a 96.8% decline from its all-time high of $26.70, recorded shortly after its March 2022 launch.