The Solana Saga cellphone, which was beforehand having hassle discovering a purchaser, has had a outstanding turnaround this week, with gadgets promoting for as excessive as $5,000 on the internet market Ebay—a pointy rise above its earlier summer season markdown.
The principle explanation for this sharp change of demand, which occurred after critics labeled the cellphone a “failure,” is the meteoric rise of the Solana-based meme coin BONK, which has seen a rise in worth of over 10,000% during the last two months.
Solana Saga Telephones Soar With BONK Airdrop
Gross sales of Solana Saga telephones elevated final week because of sure arbitrage merchants seemingly pursuing an airdrop of 30 million BONK tokens, which is distributed to all cellphone house owners. In peak worth final week, the airdrop was greater than $700 for a $599 cellphone.
Saga is a blockchain-capable smartphone that provides distinctive capabilities for safely storing cryptocurrency on the machine’s inner parts.
The Saga is SOLD OUT!
Phrases can’t describe how a lot we respect your assist. We’re nothing with out this superb group 🫂
Whereas these previous few days can be cemented in our historical past, we’re excited for the long run 🫡
Keep tuned ✨ pic.twitter.com/KJje8lBDLL
— Solana Cellular 🌱 (@solanamobile) December 16, 2023
Two unopened, in-box telephones have been offered for $5,000 or “best offer,” in line with a Dec. 16 itemizing on the web market eBay, whereas one other handset offered for $3,316 or “best offer.”
The $1,000 Saga cellphone, which debuted earlier this yr, had unsatisfactory gross sales and an unclear future. Anatoly Yakovenko, the founding father of Solana, had beforehand acknowledged that Saga’s future was unsure on account of its underwhelming gross sales outcomes.
Nonetheless, the narrative has shifted as a result of newest BONK hysteria. Blockchain customers adopted the dog-themed BONK early in November, and it rapidly turned in style, rising as excessive as 110% in a single day and reaching over 700% in a 30-day span.
SOL market cap at the moment at $32.31 billion. Chart: TradingView.com
That appeared to enhance the Saga cellphone’s state of affairs, as its poor gross sales had earlier raised doubts about its future.
Each new Saga cellphone comes with a 30-million BONK token airdrop, which merchants and followers observed final week. The worth of the airdrop outweighed the value of the cellphone as BONK’s value surged, leading to an unanticipated sell-out of the Saga telephones on the official web site.
Saga Gross sales Skyrocket, Discord Erupts
On Thursday, new customers who claimed to have simply bought the cellphone and wished to obtain the airdrop brought about the Saga Discord server to explode. Posts on the Discord server state that customers who obtain the BONK app from Saga’s crypto-forward customized app retailer are eligible for the BONK airdrop.
Saga gross sales have surged over tenfold within the final 48 hours, and they’re at the moment poised to be utterly offered out earlier than the brand new yr, in line with a noon Thursday submit by Solana co-founder Raj Gokal on X.
lol. simply so everyone seems to be conscious, @solanamobile saga gross sales have >10x’d previously 48 hours, and at the moment are on monitor to promote out earlier than the brand new yr.https://t.co/SzKht4DTYL
— raj 🖤 (@rajgokal) December 14, 2023
The numerous enhance in gross sales is noteworthy to the extent that Anatoly Yakovenko, Gokal’s counterpart, took to Twitter to precise the necessity for a value adjustment.
As a result of current bulletins of airdrops and different money incentives for machine customers by many Solana-based tasks, it seems that cellphone house owners will not be putting all of their cash on the value of BONK.
true, solend is engaged on an airdrop for saga house owners 👀 https://t.co/1EnphaJV5J
— Rooter | Solend (@0xrooter) December 16, 2023
The pseudonymous creator of the decentralized finance protocol, Solend, said on December 17 on X (beforehand Twitter) that the corporate could be engaged on an airdrop for Saga cellphone house owners.
🚨 WHERE MY $SOL SAGA FAMO AT?! 🚨
Sure, it’s TRUE! #Solana Saga Holders are going to get airdropped $SAMO! 🐶🪂
We hope you bought your paws on one earlier than it was too late…
DETAILS COMING SOON. 🙌 pic.twitter.com/yePhuOfoqM
— Samoyedcoin (SAMO) (@samoyedcoin) December 16, 2023
Additional data on the upcoming airdrop for Saga holders is “coming shortly,” in line with Samoyed Coin (SAMO), a fellow memecoin initiative.
Featured picture from Shutterstock
