Solana has surged over 430% this year, going from $10 in January to over $70 at press time. While SOL and the overall ecosystem have flourished in 2023, the same cannot be said for Saga, Solana’s mobile device.
Sales of Solana’s Web3 smartphone, Saga, have been disappointing, prompting internal discussions about its future, according to founder Anatoly Yakovenko. Unless sales see a significant improvement, Yakovenko suggested that Solana’s next device might be a lower-priced “smart wallet.”
Notsofast, a popular crypto influencer on X, recently shared a screenshot showing a percentage increase of Solana’s popular dog-themed coin, BONK, through an index called Saga Book, which tracks the value of Saga airdrop as a percentage cost of the phone.
The phone cost $1000 and was announced in April. It came with an airdrop of $10 worth of BONK tokens. By that time, BONK was priced at around $0.0000004. That number is now $0.00001154, representing a whopping 10338.75% price appreciation.
When asked about the phone’s quality and performance, notsofast said, “it’s ok,” and that it wasn’t the greatest value for dollars.
Saga was designed to enhance the Web3 mobile experience but has faced challenges due to better mobile interfaces on regular smartphones, which ironically make Web3 navigation easier. Yakovenko said that Saga’s sales fell short of expectations while admitting to using Saga as his “NFT phone,” but for everyday business, he relies on his iPhone.
During an interview, Anatoly Yakovenko acknowledged that advancements in mobile interfaces, such as Progressive Web Apps and pass keys, have narrowed the gap between specialized crypto smartphones and regular ones.
All in all, the entrepreneur seemed discouraged as he mentioned the limited success of previous attempts by companies, from major players like HTC to smaller ones like Sirin Labs, in creating crypto-focused smartphones.
SOL and BONK are two of this week’s largest crypto gainers. The dog-themed token exploded over 700% in the past 30 days, highlighting the appetite for hot memecoins in the market.
Meanwhile, Solana has recorded a price surge of nearly 20% in just seven days and 500% year-to-date. As reported, analysts are optimistic about SOL’s future growth, with predictions ranging from new all-time highs of $300 to $1,000.