Solana’s latest venture into the crypto-enabled smartphone market has garnered a staggering 100,000 pre-orders, surpassing the initial sales of its predecessor phone by a significant margin.
Reaching this milestone in just over a month is key for the company. It solidifies its position in the blockchain-integrated technology niche.
Why Demand For Solana Chapter 2 Phones Is on the Rise
The Chapter 2 phone highlights the rising interest in crypto and its use in daily devices. With $45 million now available for development thanks to the high number of pre-order sales, Solana plans to start making this awaited smartphone, targeting early 2025 for delivery.
Anatoly Yakovenko, co-founder of Solana, pointed out the economic viability of their new venture. This contrasts with the tough financials of their first device. The new smartphone, priced at $450, provides an easier entry into crypto technology, an strategy that seeks to widen its appeal and user base.
“There’s a minimum cost to get a new line going. With at least 100,000 customers for Chapter 2 having already paid $450, the economics for selling an affordable second device are more viable than the ‘brutal’ numbers that backed Solana’s experimental first phone, which originally retailed for $1,000,” Yakovenko said.
The journey to this point was not devoid of hurdles. Last year, the Solana Saga smartphone faced skepticism regarding its longevity in the market, particularly after its significant price cut.
However, the inclusion of BONK airdrop with each purchase sparked a buying frenzy. It catapulted the Solana Saga phone to a cult status among crypto enthusiasts, with units fetching as much as five times the price of Apple’s flagship iPhone 15 Pro on secondary markets.
Read more: How to Buy Solana (SOL) and Everything You Need To Know
The appeal of cryptocurrency airdrops, like the 30 million BONK tokens with the Solana Saga, was key to this success. This approach boosted sales and made the device highly sought after by airdrop hunters. It indeed highlights the unique value of Solana’s phone products.
As Solana gears up for its second act, the focus remains on embedding cryptocurrency functionality into the device’s core. Yakovenko acknowledged the challenges of competing with tech giants like Apple and Google on conventional features. Still, he remains resolute in carving out a niche with crypto-specific utilities.
Read more: Best Upcoming Airdrops in February 2024
The overwhelming response to the pre-order campaign of Solana Chapter 2 phone raises questions about the driving force behind this demand – whether it is the allure of a crypto-enabled device or the anticipation of another lucrative airdrop.
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