ApeCoin (APE) developers have big plans to launch an authentic hotel in the bustling Thai capital of Bangkok. hotel concept would offer a range of facilities designed to appeal to the general public as well as BAYC aficionados.
The hotel includes a swimming pool, a 50-night complimentary stay for coin holders, a separate ApeCoin bar, and art sections displaying MBA-themed pieces. The hotel would also include conference rooms with themes from The Other Side, Apechain, and Mocaverse, giving guests a truly immersive experience.
Apecoin DAO Wants to Open Monkey-Themed Hotel in Downtown Bangkok https://t.co/2xzztb10WX
— Smol News (@NewsInSmol) July 21, 2024
Project funding
The ApeCoin DAO treasury will fund this ambitious initiative; its budget is $356,000. At press time, the idea has received strong community support despite the significant investment – 87.72% of votes in favor. This strong support demonstrates the community’s enthusiasm for creative ideas that can increase awareness and usage of ApeCoin.
APEUSD trading at $0.80 on the daily chart: TradingView.com
Apecoin: Looking for a real-world use
In addition to providing a special venue for the BAYC community, the planned hotel aims to create real revenue generation for the DAO. It is expected to attract 70,000 tourists. Each year, the proposal calls for half of the hotel’s revenue to be donated to the DAO treasury one year after its opening. This revenue-sharing arrangement underscores how the idea can provide the cryptocurrency ecosystem with a thriving and sustainable business.
In contrast to its high value of $26.70 in April 2022, Ape is currently trading at $0.84, which is a sharp change. With a 96.8% return from its all-time high, the price of the currency has fallen significantly.
In case you missed it, the @apecoin DAO proposes $320,000 investment in monkey-themed hotel in Bangkok.
The goal is to attract 70,000 visitors per year, to stimulate @BoredApeYC IP exposure, improving ApeCoin visibility and generating revenue for the DAO.
However, the community… pic.twitter.com/rG4ooSxnlB
— XGA (@xgacrypto) July 22, 2024
Source: BitPay
MONKEY Bitcoin has gained 3.6% over the past seven days, however, suggesting some recovery. The community is also eagerly awaiting the release of ApeChain, a blockchain designed to host all BAYC-related events on-chain, thereby enhancing the value and usage of ApeCoin.
The planned Bangkok hotel could be a crucial first step in proving ApeCoin’s practical value, perhaps correcting some of the market’s unfavorable trends.
The ApeCoin community wants to increase engagement and interest in their project by designing a physical environment that reflects BAYC values, thereby increasing the value and acceptance of the coin.
The ApeCoin Hotel concept offers a bold and creative way to separate the digital world from the real world. The project has great potential to change the ApeCoin ecosystem thanks to strong community support and a defined revenue generation strategy.
The outcome of the community vote on the proposal could set a new standard for how crypto projects handle practical uses, enabling future acceptance and value consistent with it.
Featured image by John Morgan/X, chart by TradingView
