Solana’s (SOL) Web3 smartphone has sold out amid the price explosion of a memecoin built on the smart contract platform.
Dogecoin (DOGE) competitor Bonk (BONK) is trading at $0.000021 at time of writing, a staggering 10,669% increase from the beginning of the fourth quarter.
[adinserter block="1"]Solana Mobile announced last Friday that its smartphone, Saga, had sold out. The Ethereum (ETH) challenger first started shipping the web3-enabled phones in April.
One possible contributing factor to the sales: buying Saga came with a reward of free BONK, according to the project’s website. Decentralized finance (DeFi) crypto wallet Phantom indicates the size of the reward is 30 million BONK, which is worth more than $620 at time of writing. The Saga price was reduced to $599 in August.
A Solana phone, equipped with the unclaimed BONK, was resold on eBay recently for $5,000. Other Sagas are currently being advertised on the e-commerce platform for prices ranging between $2,000 and $10,000.
Solana Labs co-founder Anatoly Yakovenko said earlier this year that the goal of the smartphone is to bring more people into the cryptosphere.
“The Saga is the first device where crypto is actually treated as a first-class citizen in mobile and today without Saga, the user experience of Web 3.0 is still, I would say, pretty bad. Self-custody is really complicated. Security is really, really hard for mobile wallets and for wallets in general and that means that innovation and user experiences in those wallets move very slowly.”
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