Tag: saga

Bonk Frenzy Boosts Sales of Solana’s Saga Phones to Eight Times its Retail Cost: Details

The month of December proved to be quite lucrative for the overall crypto market, but it brought in expansive business into one particular ecosystem; Solana’s. From Solana’s native cryptocurrency SOL trading on the upper side of the price ladder the past few days and Solana-based NFTs seeing sell outs, the Solana ecosystem was already showing signs of recovery when a comparatively new member of its ecosystem bounced to popularity. This new member is named Bonk, and it is a memecoin based on the Solana blockchain.

In a new development, Solana’s Saga smartphones seem to be selling at hefty prices on online marketplaces in international markets.

Over the weekend, a Solana device sold for $5,000 (roughly Rs. 4.14 lakh) — which is approximately eight times its original launch price of $600 (roughly Rs. 49,795) on eBay. Another unit of the Saga was up for grabs at $3,316 (roughly Rs. 2.75 lakh) and many others were traded for over $2,000 (roughly Rs. 1.65 lakh), a report by CoinTelegraph said.

Notably, each Saga smartphone entails a free airdrop of 30 million Bonk tokens, which is being reported among top reasons why the Saga devices are selling like hot cakes.

In the last few days, Bonk surpassed recent memecoin star Pepecoin, in terms of its market cap. In the previous 30 days, the price of the Bonk token rose from $0.0000028 (roughly Rs. 0.00023) to $0.000012 (roughly Rs. 0.0010) and touched a valuation of $762 million (roughly Rs. 6,353 crores).

As per the official X handle of Solana Mobile, the Saga was sold out on December 16.

Buyers of this handset automatically get 30 million Bonk tokens, the value of which as per the current rate of the token, would amount to $638 (roughly Rs. 52,977). Saga buyers are also seemingly betting big on Bonk price to escalate even further, which needs to spike by at least 620 percent for them to see any real profit.

With the Saga phone now becoming a frenzy in itself, some unrelated crypto projects are also lining up airdrops for these phones.

Memecoin project called Samoyed Coin, for instance, has announced an airdrop for Saga in the weeks to come. GenesysGo, a decentralised storage provider is also set to let its native Shadow (SHDW) be mined via an app on the Saga phone.

Solana’s Saga smartphone was launched in April 2022 and was touted as the advent of the world’s first-generation of crypto and Web3-centric smartphones. Along with a Solana Pay crypto pay app, a ‘seed vault’ is also pre-installed on the Saga phone to safely store all the private keys linked to the handset, according to the company.

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Solana Saga Smartphone: Titanium Accent, Seed Vault Unveiled as Part of Web3 Device

Saga, the Solana-powered smartphone, is only a few months away from its release. The phone, that will bring along a crypto layer built atop the Android operating system (OS), will sport titanium accents, a 6.67-inch AMOLED display with full-HD+ resolution (1080×2400 pixels) and a 120Hz refresh rate among several other features. The phone is being launched by OSOM, a new company formed by the team behind the Essential Phone 1 (PH-1), after the latter went defunct. The abbreviation OSOM stands for ‘Out of Sight, Out of Mind’.

The official webpage of Solana Mobile has posted details about the Saga smartphone that reveals more features about the upcoming device. Along with an inbuilt Seed Vault to safely store all the private keys linked to the device, the phones will sport a ceramic back and a stainless-steel frame.

The smartphone will focus on improving the overall user experience across all decentralised apps (dApps). Users will be able to sign all digital transactions using a read fingerprint sensor.

“Discover the hottest projects in the Solana ecosystem, while using the dApps you already love on the go. Transact seamlessly across dApps without ever having to open another browser extension. Get access to the newest mobile features from popular dApps like Magic Eden, StepN, Jupiter, and more,” the website noted.

As part of its hardware specifications, the phone will support a 50-megapixel primary camera and a 12-megapixel ultrawide at the back, along with a 16-megapixel selfie camera.

The first 10,000 people who order the smartphone will be entitled to get the NFTs from a limited release collection of digital collectibles. Pass holders will be the first to receive Saga phones in early 2023 and these passes will give its holders the access to VIP events and community forums. Interested buyers can reserve their devices for a refundable deposit of $100 (roughly Rs. 7,830).

Anatoly Yakovenko, the CEO of Solana Labs launched a software development tool for Web3 programmes called ‘Solana Mobile Stack’ (SMS) on June 23. During this event held in New York, he revealed details of the firm’s upcoming smartphone named ‘Saga’.

This will be among the world’s first-generation of crypto and Web3-centric smartphones when it releases in the early months of 2023. As per Solana co-founder Raj Gokal, they chose the name ‘Saga’ because ‘the story of crypto is still being written’.

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