The ApeCoin (APE) decentralized autonomous organization (DAO) is voting on a proposal to launch an APE-themed hotel in Bangkok, Thailand. So far, over $3.6 million worth of APE votes for “yes,” dominating by over 90%.
Notably, the ApeCoin Improvement Proposal #448 (AIP-448) started on July 18 and will finish on July 31. This proposal received the moniker “ApeCoin Hotel” and counts with 4.6 million APE voting “yes” on July 21.
On the other hand, 411,000 APE investors vote “no” for the AIP-448, resulting in a 91.84% “yes” dominance. The opposing side will have a hard time preventing the “ApeCoin Hotel’ implementation, which, curiously, is not a protocol upgrade.
Anyone holding ApeCoin can vote in the proposal by connecting a crypto wallet, weighted by the address balance. Right now, APE is trading at $0.85, resulting in $4.26 million worth of 5 million voting APEs.
AIP-448 ApeCoin Hotel, DAO voting. Source: Snapshot
The AIP-448: ApeCoin Hotel
This particular AIP aims to launch a real APE-themed hotel in a real city to generate revenue for the DAO. Furthermore, its primary objectives include enhancing the Bored Ape Yacht Club (BAYC) intellectual property exposure, increasing ApeCoin’s visibility and utility, and generating revenue for the ApeCoin DAO.
Interestingly, this unique venture combines elements from various industries, including hospitality, art, and cryptocurrency. Additionally, the hotel plans to offer a wide array of APE-themed attractions, such as exhibitions, a rooftop bar, themed rooms, and a swimming pool.
APE-themed room illustration of the ApeCoin Hotel proposal (AIP-448). Source: ApeCoin DAO
One of the most enticing aspects of the proposal is its potential benefits for the ApeCoin ecosystem. For instance, 50% of the revenues from themed rooms will be directed to the ApeCoin DAO treasury for one year. Moreover, the hotel will accept ApeCoin as payment, demonstrating its real-world utility and encouraging circulation.
The proposal also includes community-focused initiatives, such as offering 50 free room nights to APE holders and providing complimentary access to certain facilities for community members. Subsequently, these perks aim to foster engagement and strengthen connections within the APE community.
In conclusion, the AIP-448 proposal requests a total of 410,000 APE from the ApeCoin Ecosystem Fund to bring this innovative concept to life. With voting set to conclude on July 31, the crypto world eagerly awaits the final outcome of this potentially game-changing initiative in the realm of blockchain-based hospitality.
