On Tuesday, Solana Labs unveiled the Saga “Chapter 2” smartphone, one month after the first Solana Saga smartphone sold out for the rest of its production run due to an increase in the value of free tokens provided to owners.
The upcoming phone will retain the core features of its predecessor, Saga, such as an integrated crypto wallet, customized Android software, and a “dApp store” for crypto applications.
Solana goes all in on its second phone
Solana Mobile confirmed its “Chapter 2” release in a post on X, stating an initial “Founder Window” non-refundable preorder deposit of $450, which is intended to cover the entire cost of the device, excluding taxes, shipping, and fees. It is expected to ship in the first half of 2025.
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/nYR9apGGITPreorder #Chapter2 & spread the word to maximize your chance at rewards🧵👇 pic.twitter.com/tYZCBLWwHK
— Solana Mobile 🌱 (@solanamobile) January 16, 2024
The original Saga phone cost $1,000 at launch but was eventually dropped to $599 as the product struggled to find traction. That all changed in December, when the price of the Solana-based memecoin bonk skyrocketed, creating an arbitrage opportunity given that the gadget came with 30 million tokens.
The company’s limited quantity of 20,000 phones quickly sold out in the United States and Europe, with some purchases canceled and reimbursed due to inventory concerns.
According to Solana Labs, the pre-order price is only available for a short time, and preorders will count as a non-refundable deposit for “founders” who want to commit to the phone well ahead of its release date.
However, the official website warns that low demand could result in the project’s cancellation and refunds: “If our preorder target is not met, we may decide not to proceed. In that event, we will refund your deposit.”
Solana Labs has yet to reveal the hardware in the second Saga phone or exhibit the finished device, although the reduced pricing suggests more limited specifications than the initial phone.
Solana’s ecosystem drives up the crypto market
The new Solana Mobile phone could help to cool a red-hot secondary market for existing Saga cellphones, which are in extremely short supply. At press time, a factory-sealed Saga device was fetching offers of $3,299 to $4552 on eBay, more than five times its price five weeks ago.
What eventually piqued interest was the soaring value of BONK, Solana’s leading meme coin, since Saga owners can claim an airdrop of 30 million tokens. At its height in December, that amount of BONK was worth approximately $1,025—more than the cost of the phone itself.
The rising price of BONK sparked demand for the phones, resulting in a sellout of the first batch. In the following month, Saga phones continued to pay rewards to their owners, with multiple projects airdropping valuable tokens and NFT to the 15,000 phones in circulation.
These airdrops have boosted the Saga community and encouraged more Solana developers to consider producing mobile applications.
Solana (SOL) is currently trading at $98.20 with a 24-hour volume of $2,141,377,495.56. This reflects a 2.41% price increase in the last 24 hours and a -0.67% price decrease over the last 7 days.
The current price of Bonk (BONK) is $0.00001382, with a 24-hour trading volume of $103,174,289.65. This indicates a 1.13% gain in the last 24 hours and a -9.40% decline in the last 7 days.
Will the new product be eligible for the Saga Genesis Token? The Saga genesis token, a non-transferable NFT included with each Saga device, contributed to the creation of an unparalleled and community-based distribution channel, allowing for one-of-a-kind claim experiences in conjunction with the Solana dApp Store.
While the Saga genesis token is exclusively available for Saga devices, there was an overwhelming need to contact people through this mechanism, and the team is excited to expand on this experience in Chapter 2.
