The ApeCoin community has given the green light to a proposal for establishing an ape-themed hotel in downtown Bangkok, Thailand. According to the approved plan, 50% of the revenue generated during the first year will be allocated to the ApeCoin treasury to support ongoing project development.
This decision follows a community vote on a proposal requesting 410,100 Ape tokens, equivalent to $3.6 million. The initiative aims to increase the exposure of the Bored Ape Yacht Club (BAYC) intellectual property (IP) and enhance the visibility and utility of ApeCoin.
A Fusion of Art, Hospitality, and Crypto
Known as AIP-444, the proposal received a 78.3% approval vote from the community. The hotel will feature ape-themed rooms named APE, Bored Ape Yacht Club (BAYC), Apechain, Otherwise, and Mocaverse. Upon completion, ApeCoin DAO will receive 50% of the room revenue.
“Our goal is to enhance the BAYC IP exposure, visibility, and utility of ApeCoin and generate actual revenue for ApeCoin DAO,” stated ApeCoin.
The proposed hotel will handle local compliance for the settlement of funds. In addition to the themed rooms, the hotel will offer a variety of activities, including ApeCoin-themed exhibitions, an Ape bar, an Ape swimming pool, and an MBA-themed exhibition area.
“This proposal combines IP application, the hotel industry, the arts, and the cryptocurrency field,” added ApeCoin. These elements are expected to promote ApeCoin, ApeChain, and the various Ape communities.
Exclusive Benefits for ApeCoin Holders
In addition to revenue, ApeCoin holders will enjoy exclusive benefits when using the hotel’s services, which is anticipated to strengthen the ApeCoin ecosystem and provide unique advantages to its community. The hotel will accept ApeCoin as payment for rooms and bar services. Benefits for ApeCoin holders include free access to the MBA exhibition area and complimentary use of the rooftop bar for events.
The hotel will also offer 50 free room nights to Ape holders. The establishment aims to foster community engagement by allowing ApeCoin members to host events every two months, enhancing connections within the community.
According to the proposal, the AIP team will manage event organization and venue setup at no extra cost. This development follows the July 16 launch of the ApeChain testnet by ApeCoin DAO. Earlier this year, the Ape community agreed to launch a layer-2 network on the Arbitrum network.
By integrating art, hospitality, and cryptocurrency, this innovative project aims to increase the prominence and utility of ApeCoin while offering tangible benefits to its holders.
$APE #Apecoin #crypto #cryptohotel
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