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Solana Mobile Comeback – Plans to Launch Second Crypto Smartphone Amid Surging Demand for Saga

Last Updated January 16, 2024 2:39 PM
James Morales
Last Updated January 16, 2024 2:39 PM

Key Takeaways

  • Solana is reportedly planning to release a second crypto smartphone.
  • The firm’s first attempt at a mobile device the Saga – initially suffered from lackluster sales.
  • However, demand for Sagas exploded after tokens airdropped to the devices surged in value.

In December 2022, disappointing sales figures seemed to suggest that Solana’s crypto smartphone – the Saga – had been a commercial flop. But in the past month, demand for the Web3 device has exploded. 

With Sagas trading hands for thousands of dollars on the secondary market, reports suggest Solana Mobile is planning to launch a second smartphone. This represents a complete turnaround for a project whose future was in doubt as recently as last month. 

Bonk Airdrop Lights a Fire Under Saga Resale Market

At the beginning of December, a factory-sealed Saga could be picked up for just a few hundred dollars on eBay, reflecting the weak demand for a device that initially retailed at $1,000, but was later reduced to $599 in a bid to stimulate sales. 

However, when the Solana-based meme coin Bonk surged in value throughout the first half of December, Saga owners suddenly found themselves in possession of tokens worth nearly a thousand dollars, courtesy of the 30 million Bonk that were airdropped to each device.

Once crypto traders realized that the value of the airdropped tokens was more than a new Saga, retailers soon sold out of whatever stock they had left.

While the price of Bonk has declined since peaking in mid-December, other Saga airdrops have continued to generate interest and the market for second-hand devices remains red hot. At the time of writing (January 16 2024), one smartphone listed on eBay  had a maximum bid of $3,200.

Against this backdrop, Solana Mobile is reportedly planning to release another smartphone. However, the firm appears to be taking a different approach the second time around.

Solana Plans Lower Pricetag for Second Generation of Smartphone

While the upcoming Solana cellphone will have many of the same features as its predecessor, it will apparently have a lower price tag and different hardware than the first-generation Saga.

In an interview last month, Solana founder Anatoly Yakovenko suggested that the firm’s next hardware venture might be a less ambitious “smart wallet,” which people could use as a secondary device rather than as their primary smartphone.

Acknowledging that he doesn’t use his Saga for everyday business, Yakovenko appeared to be aware that the device’s $1,000 price tag might be difficult to justify for what he called an “NFT phone.”

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