The developers of ApeCoin (APE) have grand plans to launch an authentic hotel in the bustling Thai capital of Bangkok. The hotel concept would provide a range of facilities meant to appeal to the general public as well as BAYC aficionados.
These comprise a swimming pool, a complimentary 50-night stay for coin holders, a separate ApeCoin bar, and sections of art exhibiting MBA-themed pieces. The hotel would also include conference rooms with themes from the Otherside, Apechain, and Mocaverse, therefore giving guests a really immersive experience.
Apecoin DAO wants to open an Ape themed hotel in downtown Bangkok https://t.co/2xzztb10WX
— Smol News (@NewsInSmol) July 21, 2024
Funding The Project
The ApeCoin DAO treasury will provide funding for this ambitious initiative; its budget is $356,000. As of press time, the idea has attracted strong support from the community despite the large outlay—87.72% of votes in favor. This great support demonstrates the excitement of the community for creative ideas that can increase the profile and use of ApeCoin.
APEUSD trading at $0.80 on the daily chart: TradingView.com
Apecoin: Seeking Real-World Usage
Apart from providing a special place for the BAYC community, the planned hotel seeks to create real income generation for the DAO. Projected to draw 70,000 tourists yearly, the proposal calls for returning half of the hotel’s income to the DAO treasury one year after it opens. This revenue-sharing arrangement underscores how well the idea may provide the crypto’s ecosystem a successful and sustainable business.
Unlike its high value of $26.70 in April 2022, Ape is currently trading at $0.84, a clear change. Returning 96.8% from its all-time high, the price of the currency has dropped significantly.
In case you missed it, the @apecoin DAO is proposing a $320,000 investment in an Ape-themed hotel in Bangkok.
The goal is to attract 70,000 visitors annually, boost @BoredApeYC IP exposure, enhance ApeCoin visibility, and generate revenue for the DAO.
However, community… pic.twitter.com/rG4ooSxnlB
— XGA (@xgacrypto) July 22, 2024
Source: BitPay
APE has gained 3.6% over the previous seven days, suggesting some recovery however. The community is also keenly anticipating the release of ApeChain, a blockchain designed to host all BAYC-related events on-chain, hence improving the value and use of ApeCoin.
The planned hotel in Bangkok might be a crucial first step in proving the practical value of ApeCoin, therefore perhaps correcting some of the unfavorable market trends.
The ApeCoin community wants to increase involvement and interest in their project by designing a physical environment that reflects the BAYC values, therefore raising the value and acceptance of the coin.
The ApeCoin hotel concept offers a daring and creative way to close the digital and real worlds apart. The project has great potential to change the ApeCoin ecosystem given strong community support and a defined income generating strategy.
The result of the community’s vote on the proposal may establish a new standard for how crypto projects handle practical uses, therefore enabling future acceptance and value in line with this.
Featured image from John Morgan/X, chart from TradingView