You don't need no stinkin' sofa! Put some nice fluffy cushions directly on the floor. Take that futon cushion off the frame and fold it against a wall. Add pillows and blankets. The options are endless!
DIY BASEMENT BOHO: Imagine this in your basement. Can you see yourself plopping down on one of those floor pillows playing some hippie music? The fabric on the ceiling would hide all the plumbing and insulation. Fabric could also cover walls.