Crypto Quill

Solana Mobile, a subsidiary of Solana Labs, has achieved remarkable success with its second smartphone, the Saga Chapter 2, which sold out in less than a week after receiving 40,000 pre-orders. The Saga Chapter 2 is a web3-enabled Android phone that integrates the Solana blockchain and allows users to easily and securely manage their digital assets, such as tokens and NFTs.

The Saga of Solana Mobile

Solana Mobile was launched in June 2022, with the introduction of its first smartphone, the Saga. The Saga was a flagship Android phone with a 6.67″ OLED display, 12 GB RAM, 512 GB storage, and the Snapdragon® 8+ Gen 1 Mobile Platform. The phone also featured the Solana Mobile Stack (SMS), a framework for Android that enabled developers to create rich mobile experiences for wallets and apps on Solana. The SMS also included a “Secure Element” that enhanced the security of web3 transactions by overseeing private keys.

The Saga was priced at $1,000 and required a $100 fully refundable deposit for pre-orders. However, the phone struggled to gain traction in the market, and Solana Mobile lowered the price to $599 in response to weak demand. The turning point for the Saga came when crypto users discovered that the meme token BONK’s Decentralized App (dApp) rewarded Saga owners with 30 million tokens for free. This unexpected windfall, valued around the same price as the phone itself, led to a rapid sell-out of the Saga. The surge in demand was further fueled by the rising price of the meme token, driving the smartphone’s market price to an astonishing $5,000 on eBay – over double the price of the most premium iPhone.

The Chapter 2 of Solana Mobile

Following the success of the Saga, Solana Mobile announced the launch of its second smartphone, the Saga Chapter 2, in December 2022. The Chapter 2 was a more affordable version of the Saga, priced at $450, and came with similar features as the former phone. An in-built crypto wallet, a seed vault, and a dApp store were integrated into the device. The phone also supported the Solana Mobile Stack and the Secure Element, making it a powerful and secure web3 mobile platform.

The Chapter 2 received an impressive 40,000 pre-orders in less than a week, breaking the records of Solana Mobile. Anatoly Yakovenko, co-founder of Solana Labs, shared insights on the Chain Reaction podcast, explaining that the success of the Chapter 2 paved the way for the launch of a highly anticipated third device. He highlighted the instant traction gained with developers and suggested that a third device might be on the horizon if the second phone continues the trend of success. This underlines the growing potential of web3 mobile phones as a significant market category.

Yakovenko also acknowledged the challenges faced by Solana Mobile during a difficult period in the crypto market. He explained that the company was in “survival mode” amid a bear market, actively seeking more developers to launch and weathering the storm until market conditions improved. Despite the tough times, Yakovenko remains optimistic about the future, citing the cyclical nature of the crypto market.

The Future of Solana Mobile

Solana Mobile has proven its resilience and growth in the tech industry, with its innovative and user-friendly smartphones that leverage the power and performance of the Solana blockchain. The company has also created a loyal and engaged community of users and developers, who are eager to explore the possibilities of web3 on mobile. Solana Mobile has also hinted at the possibility of a third smartphone, which could offer more features and functionality to its customers.

Solana Mobile is a rising star in the tech industry, and its smartphones are setting a new standard for the web3 experience on mobile. The company is poised to make a difference in the tech world, and the story of Solana Mobile is far from over.