ApeCoin holders have proposed a Bored Ape-themed hotel in Bangkok.

ApeCoin DAO, the decentralized independent organization behind ApeCoin (APE), is considering a proposal to open a bored monkey-themed hotel in a “prime location” in Bangkok.

DeSmart, the pseudonym of DAO, which submitted its July 19 proposal, will see a former hotel in downtown Bangkok renovated with several BAYC-themed rooms, an APE-themed bar and a swimming pool.

They are asking for $356,000 in APE tokens to complete the proposed work. DeSmart says they already are.

Aside from the sheer beauty, part of the spending is offering ApeCoin holders a variety of perks, including a total of 50 free nights reserved for holders with 1 deposit, which DeSmart says “increases visibility and utility.” ApeCoin” also generates “real income” for ApeCoin DAO.

According to DeSmart's proposal, 50% of the revenue from all APE-themed units will be returned to ApeCoin DAO for one year after completion.

To receive a free night's stay, an ApeCoin member had to show they were a member of the ApeCoin platform, have a balance of more than 1 APE, and post a promotional tweet showing “images of the platform and any positive experiences or feelings.” Want to share” to receive cashback for your stay.

Another major feature of the proposed hotel is to “demonstrate ApeCoin's real-world functionality and accept ApeCoin as payment through auctions. [encourage] Transfer and Use.”

In May, Dessmart said it conducted an on-site inspection and reached an “interest in cooperation” with a hotel in Klong San, Bangkok.

“They are very interested and supportive of our thoughts and ideas and fully cooperate with our team to implement this project,” Desmart said in a post on the ApeCoin forum.

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The idea has so far been popular with DAO members.

At the time of publication, 90% of the vote was in favor of the proposal, with 10% against. Voting ends on August 1 this year.

The rooftop bar and pool is one of the most expensive on the list of proposed developments, costing a total of 100,000 APE tokens, worth $87,000 at current prices.

On April 3, the ApeCoin community unanimously approved a proposal to register as a new top-level domain with the Internet Corporation for Assigned Names and Numbers (ICANN), the world's highest authority on IP addresses and domain names.

ApeCoin is currently trading at $0.85, down 96.8% from its all-time high of $26.70, just two months after its launch in March 2022.

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