The ApeCoin community has approved the proposal to open an ape-themed hotel in a prime location in downtown Bangkok, Thailand. According to the proposal, 50% of the revenue generated during the first year will be allocated to the ApeCoin treasury to sustain ongoing project development.

This comes after the community voted on the proposal that requested 410,100 Ape tokens, translating to $3.6 million. The proposal aims to increase BAYC IP exposure and enhance ApeCoin’s visibility as well as utility.

The proposal combines art, hotel, and crypto industries

Known as the AIP-444, the proposal got a 78.3% vote of approval from voters. According to the terms, the hotel will have Ape-themed rooms, including APE, Bored Ape Yacht Club (BAYC), Apechain, Otherwise, and Mocaverse.

After completing the themed rooms, ApeCoin DAO will get 50% of the room revenue.

“Our goal is to enhance the BACY IP exposure, visibility and utility of the ApeCoin and generate actual revenue for ApeCoin DAO.”

ApeCoin.

The proposed hotel is expected to handle local compliance settlement of the funds. Apart from Ape-themed rooms, the hotel will also offer an array of activities, including ApeCoin-themed exhibitions, an Ape bar, an Ape swimming pool, and an MBA-themed exhibition area.

“This proposal combines IP application, the hotel industry, the arts, and the cryptocurrency field,” ApeCoin added. These should all promote the ApeCoin, ApeChain, and the different Ape communities.

ApeCoin Community Approves Bangkok Hotel Proposal!

The ApeCoin community has greenlit a proposal to open a hotel in Bangkok, Thailand. In its first year, 50% of the hotel’s revenue will be allocated to the ApeCoin treasury to support ongoing project development.… pic.twitter.com/QewSkN7bF1

— NFT Insights (@nft_1nsights) August 1, 2024

ApeCoin DAO Community to get exclusive benefits

Apart from the earnings, ApeCoin holders will enjoy exclusive benefits when using the hotel’s services in a move expected to bolster the ApeCoin ecosystem and give unique advantages to its community.

Besides accepting ApeCoin as payment for hotel rooms and bars, the benefits for ApeCoin holders include free access to the MBA exhibition area, and members can also use the rooftop bar for events free.

The hotel will also offer 50 room nights for free to Ape holders. Through the proposed hotel, ApeCoin wants to enhance community engagement as the hotel will allow ApeCoin members to host events every two months, bringing together the community to enhance connections.

According to the proposal, the AIP team will handle event organization and venue setup at no extra cost. The proposal also comes after the July 16 ApeChain testnet launch by the ApeCoin DAO. Earlier this year, the Ape community agreed to the launch of a layer-2 network on the Arbitrum network.