ApeCoin DAO plans to open Boring Ape Hotel in Bangkok
The ApeCoin ($APE) Decentralized Autonomous Organization (DAO) is voting on a proposal to open an APE-themed hotel in Bangkok, Thailand. The plan, known as AIP-448, has been on the ballot since July 18 and will end on July 31. To date, over $3.6 million worth of APEs have voted in favor, accounting for over 90%.
According to the proposal, the APE-themed hotel aims to increase the visibility and utility of ApeCoin by enhancing the exposure of Bored Ape Yacht Club (BAYC) intellectual property, and generate revenue for the ApeCoin DAO. The hotel will offer a variety of APE-themed attractions such as exhibitions, rooftop bars, themed rooms and swimming pools.
Source: Snapshot ApeCoin DAO’s latest proposal AIP-448 hopes to build an ApeCoin hotel in Bangkok
Hotel plan details and community reaction
This unique project combines multiple industries including hospitality, art and cryptocurrency. The proposal states that half of the restaurant’s revenue will flow directly into the ApeCoin DAO treasury within one year. In addition, restaurants will accept ApeCoin ($APE) as a payment method, demonstrating its real-world applications and promoting its circulation.
ApeCoin DAO also plans to launch a number of community-oriented measures, such as providing 50 free nights of accommodation for APE holders and opening some facilities to community members for free. These benefits are designed to enhance community engagement and strengthen connections between members.
This proposal requires 410,000 $APE from the ApeCoin Ecosystem Fund to be realized, which will be used for:
APE Community Themed Exhibition: 20,000 $APE
ApeChain theme exhibition: 20,000 $APE
APE themed room: 30,000 $APE
ApeChain Theme Room: 30,000 $APE
Otherside themed room: 30,000 $APE
BAYC themed room: 30,000 $APE
Mocaverse themed room: 30,000 $APE
APE Themed Pool: 50,000 $APE
Staff costs: 25,000 $APE
APE Rooftop Bar: 50,000 $APE
50 free nights: $40,000 APE
Hotel lobby decoration: 15,000 $APE
MBA theme exhibition area: 10,000 $APE
Equipment, materials, miscellaneous and contingency costs: $30,000APE
Once the vote closes, the cryptocurrency community will be waiting to see what the outcome of this potentially game-changing plan will be.
Source: Snapshot APE theme room diagram
Community support and critical voices
The AIP-448 proposal sparked mixed reactions within the community. While most members expressed support, there were some critical voices. For example, Zach Burks, founder of the NFT market Mintable, expressed doubts about the plan, believing that Bangkok already has too many hotels and inns, the market is highly competitive, and the government is also working hard to increase tourist numbers.
Source: Zach Burks, founder of X NFT market Mintable, expressed doubts about the AIP-448 plan
Still, voting data showed overwhelming support. Currently, 4.6 million $APE voted in favor, while only 411,000 $APE voted against, accounting for 8.16%. Notably, an address named 0xC602 contributed 3.1 million $APE votes, accounting for 67% of the yes votes.
This proposal comes in the wake of ApeCoin DAO’s recent initiatives to expand its ecosystem. On July 16, ApeCoin DAO launched the ApeChain testnet, and earlier this year, the APE community approved the launch of a Layer2 on the Arbitrum network, which will use $APE as the gas fee and governance token.
The future of Boring Ape Hotel in Bangkok
ApeCoin DAO, this innovative hotel project, will undoubtedly bring more exposure and practical applications to the APE community. Hotels accepting ApeCoin as a payment method will further demonstrate its potential for real-world applications.
For ApeCoin holders, this is an opportunity to demonstrate their support and participation. By voting, you can directly influence the implementation of the proposal and enjoy the various benefits it brings. As voting closes, the community and beyond are closely watching the results of this potentially transformative plan.
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
