Solana Mobile SAGA Sells Out as BONK Reward Value Surpasses Phone Price
In an unprecedented event, Solana Mobile's Saga phone has completely sold out in the USA, a remarkable feat attributed to the incredible rise in the value of the $BONK token, the largest meme coin on Solana.
Launched on April 13th, 2023, the Saga Phone came with an enticing offer: 30 million $BONK tokens that can be claimed inside the phone. At the time of the phone's launch, these tokens were valued at a mere $10, but in a stunning turn of events on December 14th, 2023, their worth skyrocketed to $937 - a figure that surpasses the original phone price of $599.
30M $BONK is worth $937
The phone offered the BONK tokens and came bundled with several other rewards. These included one month of free access to Helium Mobile for U.S. users, a Saga-only sticker pack by Dialect, 50 HXD and early access to a free toy for Saga users by Genopets, and a mint pass for Claynosaurz NFTs for early adopters. Additionally, Saga purchasers received 0.01 SOL from Solana Mobile to cover initial transaction fees on the Solana network.
The response to the Saga phone was so overwhelming that Solana Mobile announced on Twitter that the phone had sold out in the USA, with less than 5,000 units remaining for the European market. This sell-out is primarily credited to the explosive growth in the value of the $BONK token, which not only achieved a $1.6 billion market cap but also secured a spot among the top 50 coins by market cap.
Many buyers capitalized on this unique opportunity, with some purchasing up to 10 phones. This unforeseen demand led Solana Mobile to limit purchases to one phone per user. Adding to the frenzy, a betting platform on Solana, Divvy Bet, announced opening a pool where Saga phones could be staked for placing bets.
The Saga phone is noted for its revolutionary seed vault technology, which enhances web3 onboarding. It allows the creation of seeds in a private, secure vault backed by a hardware Secure Element integrated into the phone. This seed vault is connected to all dapps available on the Solana app store, enabling secure and swift transaction signing. In addition to its blockchain capabilities, the Saga phone boasts a separate Solana app store that coexists with native Android apps, blending conventional mobile experience with web3 functionalities.
The success of the Solana Saga phone and the phenomenal rise of the BONK meme coin are significant indicators of the growing intersection between mobile technology and the blockchain world, potentially paving the way for broader adoption of web3 technologies.