Solana announced that its Saga handsets had been sold out in the US.
This sudden surge in demand is a surprise, as it was only a few short months ago that the phone manufacturer slashed its prices because of low sales.
All Saga users will receive a free Saga. “Saga Genesis NFT” It will be the first time that they turn on the device. It unlocks a half-dozen free rewards such as an “welcome pack” Buy USDC stablecoins for $20.
Flipside crypto’s dashboard shows that, since July 30, only about 300 Sagas new have been minted.
The recent sales boom is a good example.
Anatoly Yakovenko, the founder of Solana, acknowledged in a December 5th interview that there were only about 2,500 units sold. He said he needed to achieve a sales volume between 25,001 and 50,000 before he could be considered to have achieved success, which would attract developer interest.
Why did the sales increase 10 times overnight?
BONK, the Solana memecoin appears to be involved in this answer.
The new Solana owners will receive 30,000,000 BONK tokens as a reward. The first time these were offered was as an airdrop via an Saga app. It may seem like a large amount, but each token cost 0.0000003 at that time, which was roughly $10.
Fast-forward to today, and BONK has skyrocketed to a price that has would-be owners salivating — up about 900% over the past month, 8,000% since June and a hair-raising 34,000% since trading debuted in December 2022.
The value of BONK that would be unlocked by the Genesis NFT could cover the entire cost of the Saga phone.
After receiving and setting up the phone, new owners will have to decide whether they want to sell their BONK or keep it in hopes of getting more. This is assuming that the price remains stable and does not crash before users get their phones.
Even if the new owner of the phone is able to give it new energy, the project could be revived. Yakovenko told Friday’s news conference. “I think we might have just overcome the first hurdle. But there’s still a tremendous amount of work to be done.”
“Once developers start releasing crypto-incentivized apps to all Saga users, it should kickstart the flywheel. Users interested in crypto incentives will adopt the phone, giving developers a concentrated distribution channel filled with users seeking those incentives, and all without any app fees.”
When users receive their brand new smartphones, it is likely that they will find a variety of Genesis NFT Mints.
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