Solana Mobile is set to release a second crypto-ready smartphone following the unexpected success of its initial offering, Saga, according to an insider familiar with the company’s plans.
The upcoming phone will retain the core features of Saga, including an onboard crypto wallet, custom Android software, and a “dApp store” for crypto applications. However, the new model aims to be more affordable and will feature different hardware compared to its predecessor. Saga was initially priced at $1000 when it launched last year, but due to challenges in sales, prices were later reduced.
The introduction of the new Solana Mobile phone is expected to address the surging demand and escalating prices in the secondary market for existing Saga smartphones. Factory-sealed Saga devices are currently fetching bids as high as $3,200 on eBay, a fivefold increase from just five weeks ago.
Originally, backers of the Saga smartphone were planning to move on from the experimental device, which aimed to establish a mobile-first platform for crypto traders and NFT collectors but struggled to find a sufficiently large market.
The scenario changed dramatically when crypto enthusiasts realized that the phone came with an allocation of BONK tokens, surpassing the device’s price. In less than a week, Saga sold out as demand soared in response to the unexpected token allocation, contributing to its newfound success in the market.