ApeCoin DAO Rallies Around IRL Hotel Proposal

ApeCoin DAO appears ready to approve a proposal for a BAYC-themed ApeCoin Hotel in Bangkok, Thailand — equipped with themed rooms, a pool, a bar, and APE-based payments. The team behind the proposal wants nearly $4 million to make it happen.

What's the scoop?

• Goal of the Hotel: The goal of the hotel will be to increase BAYC IP exposure, enhance ApeCoin utility which will be used as payment in the rooms and bars, and generate revenue for ApeCoin DAO.
• Community Benefits: APE holders will get 50 room nights for free, access to the rooftop bar and MBA exhibition area, and community events every two months.
• Team Overview: At the helm are community members DeSmart, Joanna Pan, and Kit Pon, who claim expertise in product design, hotel management, and marketing to the ApeCoin Hotel project.
• Market Context: ApeCoin set new all-time lows earlier this month, while Bored Apes are trading around 9 ETH currently following a very rough couple years for the collection.

Bankless Take:

A metaverse, a chain, and now a hotel… While we hope for the best, it seems like a bananas proposal for a chain and community that is clearly struggling. One could concede that the BAYC community probably has the best chance among other NFT communities of making something like this work, though perhaps that's not saying much.

While the proposal lists a number of ways this could get benefit APE holders, the fact that this is already seeing such wide early traction showcases that the BAYC community and ApeCoin DAO is ready to be excited for something, a sentiment that isn't uncommon in the NFT space amid its prolonged bear market. Say what you will about this proposal, but they are certainly going where no project has gone before.