Solana Mobile, following the surge in demand for its crypto wallet-integrated smartphone Saga, has decided to release a second phone model. This move is seen as a strategic step towards market dominance. The new model will retain many features of the Saga, including a crypto wallet, dapp store, and a specialized Android OS, but will differ in hardware and come with a lower price tag.
Originally priced at $1,000, the Saga struggled to attract interest until its price was reduced to $599. The device’s popularity soared with the BONK memecoin momentum, offering a significant arbitrage opportunity as it came bundled with 30 million tokens. Solana’s limited stock of 20,000 phones sold out quickly in the US and EU, leading to inventory issues and order cancellations with refunds.
The BONK airdrop event saw the token’s price skyrocket over 800%, from $0.0000038 to $0.0000350 on the day the phone stocks depleted. However, BONK’s price has since experienced a significant drop, falling by 60% to $0.0000140.
At peak BONK prices, the 30 million tokens included with the Saga were worth $1,140, exceeding the phone’s $599 price tag by 90%. Despite the price drop, the current value of the airdrop stands at $420, below the phone’s price.
Despite the downturn, at least two Saga phones have been sold on eBay for up to $5,000, and second-hand sales continue to fetch high offers up to $3,200, indicating ongoing excitement for potential future airdrop events among phone owners.