- The Solana mobile phone Saga saw initially poor sales dramatically increase tenfold within 48 hours due to a promotion offering 30 million BONK tokens with each purchase.
- This led to an arbitrage opportunity that attracted buyers, necessitating a purchase limit per household, and paving the way for the upcoming release of version 2.0.
- The Solana Mobile 2.0 offers early adopters a reduced price and a referral rewards scheme, despite scepticism about its long lead time and production feasibility.
Solana Mobile 1.0 – A Bonkers Saga
Solana’s mobile phone, which had launched in May 2023 wasn’t selling all too well and Solana co-founder Anatoly Yakovenko expressed low expectations for sales in early December. Then, on the back of the Bonk meme coin craze, they started to offer buyers a free airdrop of 30 million BONK tokens, creating an attractive arbitrage opportunity.
Due to the rising value of BONK, buyers hoped to potentially sell their tokens, effectively getting the phone for free and earning extra cash. Consequently, sales of the Solana phone had skyrocketed, with Solana co-founder Raj Gokal reporting a more than tenfold increase in the following 48 hours.
To manage demand, Solana then had to limit purchases to one per household. The Saga phone is noted for its deep blockchain integration, crypto and NFT usability, and a built-in hardware wallet for enhanced security in crypto transactions. Now, Solana Mobile has confirmed that a version 2.0 will be released soon.
Solana Mobile 2.0 – Potential Rewards to Draw in Early Adopters
While the original phone sold for USD $1,000 (AUD $1,522) anyone wanting to get in early with the second version now has to only cough up USD $450 (AUD $685). But, as the Solana website states, this will be only for a limited time, in what is dubbed “the founder window.”
The website also stated that while the deposit is non-refundable, this only applies if the phone gets actually manufactured. If the project does not proceed, then depositors will receive their money back. The price also excludes fees and taxes as well as shipping costs – a potential drawback for Australian customers.
It is expected that the phone will ship in the first half of 2025. In addition to opening pre-orders, Solana Mobile has introduced a referral scheme that allows users to earn rewards by signing up friends for the phone preorder. The phone can be purchased via credit card or Solana Pay, and it’s essential to check local eligibility for pre-orders.
Despite the excitement among fans, some scepticism surrounds the long lead time for the product, with concerns about delays and production feasibility. However, others point to the profitability of the first Saga handset for its holders as a positive sign.
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