The developers of ApeCoin (APE) have ambitious intentions to establish an authentic hotel in the vibrant Thai capital of Bangkok. The hotel concept would offer a variety of amenities that are intended to appeal to both BAYC enthusiasts and the general public.
These include a swimming pool, a complimentary 50-night stay for coin bearers, a separate ApeCoin bar, and sections of art featuring MBA-themed works. In addition, the hotel would furnish conference rooms with themes from the Otherside, Apechain, and Mocaverse, thereby providing guests with an entirely immersive experience.
The ApeCoin DAO treasury will grant funding for this ambitious initiative, with a budget of $356,000. Despite the substantial investment, the concept has garnered substantial community backing as of the time of this writing, with 87.72% of votes in favor. This substantial support serves as an illustration of the community’s enthusiasm for innovative concepts that may elevate ApeCoin’s visibility and utilization.
In addition to offering a unique space for the BAYC community, the proposed hotel objective is to generate tangible revenue for the DAO. The proposal envisages the return of half of the hotel’s revenue to the DAO treasury one year after its opening, with an anticipated 70,000 visitors annually. This revenue-sharing arrangement emphasizes the potential for the concept to establish a sustainable and profitable business within the crypto ecosystem.
Compared to its peak value of $26.70 in April 2022, Ape is currently trading at $0.84, a visible shift. The currency has experienced a substantial decline in value, with a return of 96.8% from its all-time maximum.
However, there is evidence of a recovery, as APE has increased by 3.6% in the past seven days. The community is also eagerly anticipating the release of ApeChain, a blockchain that is custom-built to host all BAYC-related events on-chain, thereby enhancing the value and utility of ApeCoin.
The proposed hotel in Bangkok could serve as an essential initial step in demonstrating the practical value of ApeCoin, potentially reversing some of the unfavorable market trends.
The ApeCoin community aims to enhance the value and acceptability of the coin by creating a physical environment that aligns with the BAYC values, thereby increasing involvement and interest in the project.
The ApeCoin hotel concept provides a daring and innovative approach to unify the digital and physical realms. Given a defined income generation strategy and robust community support, the project has the potential to significantly transform the ApeCoin ecosystem.
The outcome of the community’s vote on the proposal has the potential to establish a new standard for the manner in which crypto projects manage practical applications, thereby facilitating future adoption and value in accordance with this.
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