ApeCoin, an ERC-20 governance and utility token used within the APE Ecosystem, is progressing toward real-world application as it explores a unique hospitality venture in Bangkok.
ApeCoin holders may soon enjoy exclusive benefits at a proposed Bored Ape Yacht Club-themed hotel. ApeCoin DAO, which governs the ApeCoin ecosystem, is reviewing a proposal from DAO member DeSmart to renovate a section of a centrally located hotel in Bangkok to include APE-themed amenities.
The July 19 proposal outlines a plan to transform an existing hotel into an APE haven featuring Bored Ape-themed rooms, an ApeCoin-themed bar, and a swimming pool.
The DAO is evaluating a funding request of 356,000 ApeCoins to refurbish the hotel to attract ApeCoin holders and tourists, enhancing the token’s utility and market presence.
DeSmart, known for its active participation in the ApeCoin community, states that the project could offer tangible benefits to the ApeCoin economy.
Among the proposed perks are 50 nights of free accommodation for ApeCoin holders, limited to one night per holder, which could boost the token’s visibility and real-world usability.
The initiative also promises to allocate 50% of the revenue from the APE-themed rooms back to the ApeCoin DAO for a year after the renovations are completed.
Apecoin Revival: NFT Launchpad Sparks Optimism Amid Market TurbulenceTo qualify for the free night, ApeCoin holders must prove membership in the ApeCoin forum, hold more than one APE and post a positive experience about their stay on social media platforms.
DeSmart further mentions that ApeCoin will be accepted as payment at the hotel, reinforcing its practicality in everyday transactions.
The proposal details the enthusiasm of the hotel management in Khlong San, Bangkok, for the collaboration, highlighting a shared vision for innovation and community-driven initiatives.
The response from the ApeCoin community has been overwhelmingly positive, with 90% of votes favoring the project. Voting will conclude on August 1.
Notably, the proposal aligns with the community’s recent endeavors, such as the unanimous decision on April 3 to register “.APE” as a new top-level domain, underscoring the ApeCoin community’s commitment to broadening its influence and utility in diverse sectors.
Over the past 24 hours, ApeCoin (APE) experienced a notable decline in its market price, falling by 2.37% to $0.8196. Despite the drop, trading activity surged, as evidenced by a 15.00% increase in the 24-hour trading volume, reaching $46,960,875.
This recent activity has significantly impacted ApeCoin’s market capitalization, which now stands at approximately $495,743,524, positioning it at 127th in market cap rankings.
