Solana Labs has unveiled the Saga “Chapter 2” smartphone, a follow-up to last year’s crypto-focused Solana Saga phone. The Chapter 2 version launches in 2025 at a more affordable $450 preorder price, compared to the original’s $999 launch price. It comes after the initial production run of 20,000 Solana Saga phones sold out in December, driven largely by interest in tokens awarded to owners.

Keypoints

Solana Labs revealed the Saga “Chapter 2” phone, a cheaper follow-up to the original Saga phone
It will launch in 2025 for a preorder price of $450, making it more affordable than the original $999 phone
It’s designed for the Solana ecosystem like the original, with a native crypto wallet and access to Solana dapps
Demand for the original Saga spiked due to the rising value of a BONK token airdrop for owners
Only 20,000 units of the original Saga were made, but it sold out in December amid the airdrop frenzy

Like the original Solana Saga, the Chapter 2 phone appears positioned as an Android device tailored specifically for the Solana blockchain and ecosystem. It will ship with a built-in crypto wallet optimized for Solana, allowing users to store, send, receive, and interact with SOL tokens and SPL tokens. The phone will also enable access to decentralized apps (dapps) built on Solana.

1/ Almost overnight, Solana Mobile’s Saga became the most rewarding experience on a phone, ever, and sold out.

You know that story. Now it’s time for the next part of the epic.https://t.co/nYR9apGGIT

Preorder #Chapter2 & spread the word to maximize your chance at rewards???????? pic.twitter.com/tYZCBLWwHK

— Solana Mobile ???? (@solanamobile) January 16, 2024

The sellout of the initial Solana Saga came after months of lackluster interest. Solana Labs dropped the phone’s price from $999 to $599 just four months after its April 2023 launch, suggesting slow adoption from the crypto faithful. However, demand spiked in December amid a surge in value of leading Solana meme token BONK. Saga owners were airdropped 30 million BONK tokens, worth over $1,000 at peak price—more than the cost of the phone itself.

This BONK frenzy prompted a wave of interest in joining the exclusive club of Saga owners. Phones have been selling for thousands on eBay from opportunists looking to capitalize on future token airdrops and other perks offered to holders of the Saga Genesis NFT minted during setup. An NFT airdrop in January is already fetching prices over $1,000 on secondary markets.

Between the token mania and the reality of limited supply, the initial Solana Saga production run is fully depleted. With the Chapter 2 phone not expected until 2025, the Saga has captured the imagination of the Solana faithful who missed out on the first wave.

Solana Labs has revealed little about the Saga Chapter 2 phone itself so far, including hardware specifications, actual design, and total supply. The cheaper $450 preorder price suggests more modest specs than the original’s flagship-level internals. But the core focus on Solana integration will likely continue, both for crypto asset management and utilization of the blockchain’s dapp ecosystem.

The Chapter 2 announcement comes on the heels of January’s World Economic Forum annual meeting in Davos, Switzerland. Solana Labs co-founder Anatoly Yakovenko appeared at WEF events centered around cryptocurrency and the ongoing pressures faced by the foundering FTX exchange.

While Solana usage and token price took hits amid the 2022 crypto winter, interest in the Saga suggests enduring faith in Solana’s long-term viability from its most ardent supporters.

But the sellout surprise of the original phone suggests a viable path forward: get the hardware into loyal users’ hands, continue providing valuable token drops and perks, and let crypto’s most bullish backers power grassroots interest through scarcity and speculation.

The post Solana Reveals Cheaper ‘Chapter 2’ Phone on Heels of Sellout Frenzy appeared first on Blockonomi.

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Filed under: Bitcoin - @ January 16, 2024 5:18 pm