- ApeCoin DAO’s proposal AIP-448 suggests building ApeCoin’s hotel.
- Community talks concern a hotel in a prime location in Bangkok, Thailand.
- ApeCoin dives 96.8% from a double-digit all-time high with low volumes.
The community behind ApeCoin (APE) is considering opening a real-life hotel in a prime location in downtown Bangkok, Thailand. Inspired by the blue-chip NFT collection, the Bored Ape Yacht Club (BAYC), APE was worth a whopping $26.70 at its peak on April 28, 2022.
Free 50-Night Stay for ApeCoin Holders?
Since then, APE backtracked an eye-watering 96.8% despite a capped supply of 1,000,000,000 and several utility cases in metaverse games. Despite its separation from Yuga Labs, ApeCoin remains a means of payment for Dookey Dash and the Otherside metaverse franchise.
In spending proposal AIP-448 submitted by an anonymous member of ApeCoin DAO, the author seeks to “enhance the BAYC IP Exposure, visibility and utility of ApeCoin, and generate actual revenue for ApeCoin DAO.” Intriguingly, the proposal includes a free 50-night stay for all APE holders.
What’s Included in the ApeCoin Hotel
The proposal to build a hotel in a top location in Bangkok, Thailand, is estimated to set ApeCoin DAO treasury back $356K. As of press time, it had received 87.72% approval votes, while 12.28% voted against it. The proposal names 50 free nights at the hotel as a main benefit for ApeCoin holders, including business events and parties at the rooftop bar.
Conversely, the proposal offers an APE swimming pool, ApeCoin bar, MBA-themed art exhibition areas, and BAYC-decorated conference rooms, including the Otherside, Apechain, and Mocaverse. Furthermore, 50% of the revenue generated by the ApeCoin hotel is returned to the ApeCoin DAO treasury one year after the ApeCoin hotel in Bangkok kicks off.
With a target of 70,000 visitors per year, ApeCoin’s hotel in Thailand aims to serve as a BAYC community haven. If the proposal is granted the $356K fund allocation, it plans to renovate an existing hotel in Khlong San, Bangkok. ApeCoin holders can vote for the fate of this proposal until Aug 1, 2024, 4:00 AM.
As of press time, the primate-embossed meme coin ApeCoin (APE) is changing hands at $0.84, having gained 12.6% over the past seven days.
However, ApeCoin DAO’s native crypto is just 27.7% up from the all-time low of $0.6656, hit on July 8, 2024. APE continues to register low trading volumes below $100 million a day as the community awaits the ApeChain. Set to debut later this year, the ApeCoin community’s blockchain plans to host all BAYC-related events on-chain.
On the Flipside
- There’s been a trend of cutting off non-fungible token-related ties due to the NFT market’s revenue tumbling 63.35% in a year.
- Big brand names like Starbucks discontinued their NFT reward programs, while X social platform cut off NFT support for Premium members.
Why This Matters
Demonstrating a crypto project’s applicability as a real-world brand enhances crypto adoption and potentially boosts the coin’s value due to genuine usage.
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