Ape Caribbean Resort: The Vacation spot for NFT communities (Powered by ApeCoin)

Proposal Name

Bananarama Resort: The Vacation spot for NFT communities (Powered by ApeCoin)

Abstract

This AIP aims to use funds to purchase Bananarama Resort, Restaurant, and Dive Shop in the Caribbean. A 23-room beachfront resort for the entire NFT community. We will host weekly web3 educational seminars for the locals and anyone interested. The seminars will be led by all the NFT OG volunteers in exchange for stays.

Motivation

This AIP has two benefits for the ApeCoin ecosystem, first, it adds utility by allowing holders to book their stay using ApeCoin, second, it creates massive exposure to non-web3 natives (tourists and locals) on a daily bases.

Blockchain Education will be held weekly, via web3 seminars led by OG community volunteers.

Host the BAYC/MAYC Annual Caribbean Retreat, where holders can claim two free stays and enjoy a vacation with other apes.

NFT communities will have the option to reserve the entire Resort as an added utility for their communities. Reservations can be made on weekly or monthly time periods and must be paid for in ApeCoin.


Proposals submitted to the AIP Ideas category can be vague, incomplete ideas. Topics submitted here are not required to be submitted as a formal AIP Draft Template, however, you may still use the template if you wish.

I’m a fan of IRL locales for the DAO. How would you put this together?

2 Likes

Hello Racs, thanks for putting forward this idea!

Without being unrealistic, I think this is a really fun idea! Haha :laughing:

In the interest of actually seeing this idea evolve, I’m going to ask you some questions that you should expect during review with the Special Council. I am hoping you can use these as inspiration to finish writing the AIP following the official AIP Draft Template.

  1. Are there any potential legal risks or considerations associated with the activities of this AIP?

  2. Will you please provide background information on yourself and your team that highlights their ability to complete the tasks set out in this proposal? Please provide substantial support to your response, and examples if possible.

  3. Please elaborate on the team’s plan to host weekly web3 educational seminars, will these be in person, online, or both?

  4. Please provide a description of what qualifies someone as an “NFT OG.”

  5. Please elaborate on the team’s expectations for the future. Do you anticipate you will be able to pay taxes/rent and maintain the safety and cleanliness of the resort without follow-up funding from the ApeCoin DAO?

  6. What is the total cost of this AIP? Is Bananarama even for sale? Have you spoke with the current owners of Bananarama?

  7. Are you prepared to personally operate this venture, or is this AIP a call to action for the community to get involved as volunteers?

  8. Please elaborate on your plans for hosting the “Annual Caribbean Retreat,” and all anticipated costs associated with this event.

  9. Are your plans to have the ApeCoin DAO own and operate the resort? If so, who will be facilitating the work and ownership of the assets? If not, how will you set up your corporate/limited liability structure to allow ownership of the resort and fund employee salaries?

Thank you again for putting this together, I look forward to your responses!

:pray:

7 Likes

First off: I always appreciate proposals that call forth ways that ApeCoin can be utilized to not only be spent IRL, but also incentivize holders and bring people together. To this end, however, this proposal raises a number of questions.

@Amplify addresses many that I myself have as well, but I’d like to voice a few of my own.

  • Incentivizing BAYC and MAYC holders is always nice, but ideally as ApeCoin grows I’d love to see more ways to incentivize $APE holders first and foremost. I recognize the challenge this presents from an exclusivity standpoint, but I for one would love to see an emphasis on bringing more folks into the $APE world, as opposed to continuing to incentivize Yuga asset holders. I admit, this is a personal concern but perhaps one worth considering.

  • The finances are also of paramount concern to me. Echoing some of the points @Amplify raised, I’d be curious what both the initial and ongoing (if any) costs to ApeCoin DAO would be… I’m no real estate mogul, but I’d imagine the initial investment to be SIGNIFICANT, especially in terms of recouping expenses and generating revenue. Being a “remote” destination and one relying on tourism, it’s conceivable that there are seasons in which travel is slow and finances take a hit unless there are ongoing and productive streams of income not entirely dependent upon tourism. This may be where online classes and education come in, but I’m not clear purchasing a resort is the ideal use of these funds.

  • Running and operating even a small business is hard, let alone an entire resort, restaurant and Dive Shop. The resources and expertise necessary to ensure the smooth and efficient operation of these facets would need to be demonstrated well in advance, and even still it’s not an endeavor without some serious risks, both financially and otherwise. The insurance alone on a location potentially susceptible to hurricanes and other natural phenomena is also a factor not be overlooked as well.

I’m looking forward to hearing more about this, and seeing some more detail into the numbers and logistics, as well as expected outcomes and metrics for gauging those outcomes.

7 Likes

Hi @racs,

Your topic will be automatically closing in less than 24 hours. Are you content with the feedback received, or do you wish to extend community discussion for a further 7 days?

If we do not hear from you within 48 hours after your topic closes, your topic will be moved straight to the AIP Draft process.

We look forward to hearing from you.

-Escape

1 Like

As a reply to your first question “Are there any potential legal risks or considerations associated with the activities of this AIP?”

I have outlined a few (not all) issues that might be worth considering regarding legal risks:

  1. Zoning and land-use regulations: Depending on the location of the resort, there may be restrictions on how the land can be used. For example, the resort may need to be located in a specific “tourist zone” in order to operate legally.

  2. Building codes and construction regulations: There may be strict regulations governing the construction of vacation resorts in the Caribbean, particularly in terms of earthquake safety and hurricane resistance.

  3. Environmental regulations: There may be environmental regulations in place that restrict or prohibit certain activities at the resort, such as the discharge of wastewater into the ocean.

  4. Health and safety regulations: There may be health and safety regulations that govern the operation of vacation resorts in the Caribbean, such as food safety regulations.

  5. Taxation: There may be special taxation rules that apply to vacation resorts in the Caribbean, such as VAT or customs duties.

  6. Labor laws: There may be special labor laws that apply to vacation resorts in the Caribbean, such as minimum wage laws.

  7. Business license requirements: The resort may need to obtain a business license from the local government in order to operate legally.

Have a great day yall!

DISCLAIMER – not legal advice this content is intended for general information only, and should not be construed as legal advice, tax advice, or financial advice applicable to your particular situation.

6 Likes

While this is @racs 's Idea, I can’t speak for them as to the original post. My comment was more in the spirit of consideration and feedback, and I’m fine with the thread as it stands.

3 Likes

I have received good feedback and a lot of great questions. I am awaiting more details on this specific property, I will share the information and update the AIP idea once I receive it.

4 Likes

Hi ApeCoin DAO Community,

@racs has requested to extend the community discussion period for this AIP idea. This topic will automatically close a further 7 days from now. We encourage the community to continue to engage in thoughtful discussions through constructive criticism, honest feedback, and helpful suggestions.

Follow this Topic as further updates will be posted here in the comments.

-Escape

3 Likes