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Tuesday, February 27, 2024

Shopping for frenzy for Solana Cellular’s second telephone drives preorders sky excessive


Demand for the Chapter 2 is outwardly so excessive, Solana Cellular hit its 7-day gross sales aim throughout the first 24 hours, Raj Gokal, co-founder of Solana and president of Solana Labs, completely informed TechCrunch.

Within the first 24 hours after the telephone was introduced, Solana Cellular noticed over 25,000 preorders, and by the 30-hour mark, it had 30,000 preorders, Gokal mentioned. At these numbers, this new machine has already eclipsed 12 months value of gross sales of Solana’s first handset, Saga.

The brand new telephone could have related options as its predecessor: it’s primarily based on Android, has a built-in crypto pockets, a Seed Vault and a “dApp retailer” for decentralized crypto functions. It’s initially being supplied at $450, lower than the $599 the Saga is bought for. Chapter 2 will ship within the first half of 2025, a Solana spokesperson mentioned.

“For builders, Solana Cellular is creating a large alternative for crypto app groups trying to incentivize their customers,” Gokal mentioned. “It offers them a concentrated distribution channel to die-hard, devoted customers. It permits them to do that with none prohibitive app retailer charges.”

Gokal added that the machine represents what’s potential with crypto, offering worth in incentivizing apps to customers.

Saga’s climb

Solana’s first smartphone didn’t see a lot demand when it was first launched in mid-2023 for $1,000. However the firm quickly lowered the value right down to $599 in gentle of weak demand. YouTuber Marques Brownlee even known as Saga the “Worst New Cellphone of 2023” and mentioned it was a “bust.”

Initially, it appeared the lackluster gross sales have been as a result of the telephone went unnoticed within the crowded smartphone market. However the crypto-savvy crowd’s ears perked up when dog-focused memecoin BONK’s decentralized software (dApp) introduced that it was offering 30 million BONK tokens to Saga homeowners at no cost. The Saga then bought out nearly in a single day.

On the time, 30 million BONK tokens have been value greater than the price of the telephone, so customers mainly bought the machine (or the tokens, relying on the way you take a look at it) at no cost. Earlier than then, Saga homeowners obtained different crypto rewards, just like the mint for the Claynosaurz NFT assortment, however these promotions didn’t garner as a lot consideration. Following the BONK hype, although, different dApps started providing related rewards, which resulted in much more individuals wanting to purchase the telephone to get their palms on its supplied worth.

“Because the market rebounded in This fall of final yr, the Saga bought out, with the big majority of these gross sales happening over simply two days in December,” Gokal mentioned. “Since then, we’ve been inundated day by day with hundreds of requests for extra.”

Now, Solana is hoping to recreate the identical magic with Chapter 2. The Saga genesis token, the non-transferrable NFT that got here with each Saga and helped homeowners redeem rewards, is not going to be accessible to homeowners of the brand new gadgets, however the firm plans on “constructing on this expertise in Chapter 2,” in response to its FAQ.

“Giving again to the group has a snowball impact: As extra builders begin releasing crypto-incentivized apps to Solana Cellular customers, we’ll see even better adoption,” Gokal mentioned. The Chapter 2 has launched with sponsors together with Backpack, Tensor, Phantom, Solflare, Magic Eden and Drip, which plan to reward homeowners, he added.

“Chapter 2 is concentrated on wider distribution, better accessibility, and makes use of learnings from the final two years to allow better flexibility for builders and customers,” Gokal mentioned.

The brand new machine has “been within the works” for over a yr, Gokal mentioned, as the corporate wished to offer “full freedom for crypto builders and customers,” by having no restrictions on tokens or NFTs, and no prohibitive charges.



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