Should you buy a Solana Saga phone? | Why are they currently selling for over $5k?
Hello SPIers, today we talk about the Solana Saga Phone. If you are not aware, Solana (SOL) the crypto blockchain released a mobile phone in mid-2023. It had weak sales when first launched at $1000 so they dropped the price by 40% to $599 and then it sold out. Recently brand new Solana Saga phones have been selling on the secondary market (eBay) for over $5000.
Why?
Each phone has a built-in SOL wallet and these addresses were whitelisted for airdrops. To date, if a Solana Saga phone owner was to have claimed and held all the free tokens and NFT's on offer they would have.
30 million BONK tokens
These were worth a few dollars when the phone was released but recently peaked at a value of over $1000 and currently sit around $350.100,000 ACS
Content monetization platform Access Protocol decided to drop tokens to Saga phone holders for exposure. It worked as the token price mooned and at its peak the 100k ACS were worth $370 but have dropped back down to $250 today.1250 SAMO
This a dog meme tokens. They are not worth alot, under $20 but we're the start of a bullrun and these could be worth a few hundred in a years time if holders get lucky.Saga Monke NFT
These are special NFTs created just the Saga phone owners. Each phone got 1 and 8705 were created. These are called wave 1 Monkes and future phone releases will get wave 2, wave 3 airdrops going from the Saga team said on X last year. The current floor price for a Saga Monke is $600 and peaked at over $1250 when first released.Honeyland
This is a SOL-based mobile game. Saga phone holders got a free game upgrade worth $30 and 50 HXD worth around $5. Not that much but if the game is decent, the upgrade is nice.MixMob
This is a gaming platform that will be airdropping its to-be-released token to Saga phone holders. No numbers have been thrown around but Saga Phone wallets will get an airdrop.
There are maybe 10 other projects planning to airdrop future tokens or NFTs to Saga phone holders so too many to list but we can see that paying $600 or even $1000 for the phone when first released would have been a good investment.
So now we understand why its selling at 5x its release price
People are not buying this phone to use it as a phone, they are buying it to get current and future airdrops that are exclusive to the phone wallet address. I mean it's not worth $5k but based on what Saga phone owners can claim, it's worth more than they paid.
As a phone
Pretty bad reviews to be honest. The phone is Andriod-based and ranked by many people as one of the worst phones of 2023.
The phone is made by a company called OSOM that builds hardware. They had a phone they called "OV1" but no market share so Solana came along with money and a community to market it to. OSOM rebuilt the OV1 phone into the Solana Saga phone and they updated the OS to include a few crypto features to make it a crypto phone
The 3 biggest things that make this a crypto phone
1- Solana Mobile Stack
2- Seed Vault
3- SOL Dapp store
Apart from these things, it is a pretty normal mid-tier Andriod phone. The reason it gets bad reviews is 90% based on its launch price of $1000. It's not a $1000 phone and without all the free stuff, worth $400-500. With that said, most have said the build quality is very good and they built it with good materials.
SOLD OUT!
These phones are sold out months ago so whats next for those looking to own a Solana Saga?
Solana Chapter 2
Weird name to call a phone "Chapter 2" but whatever. It's currently on presale with projected first shipping dates in the first half of 2025. The presale is split into 3 parts, founders window, early adopter window and supporter window. There is currently no final phone price.
Currently, the presale is in its Founders Window stage which will close soon. People can pay a $450 deposit to get added to the whitelist and then need to pay the rest of the final phone price when it's decided later.
What do you think? Worth a Gamble to Pre-order this?
They say it'll be put first half of 2025 but could be end of 2025. If shipped in 2025 during the crypto bullrun year, its resale value, if sold out, could be $10k. I know that sounds stupid for a mobile phone but people are stupid and when people are making hand over fist as many do during a bull year and they will overpay for things.
On top of that, the SOL ecosystem is still growing and this cycle could be the SOL cycle in the same way BSC has success last cycle.
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So............. SPI has made a preorder.
Let's see what comes of it in 2025
| Token Name | Main Account | Link to hive-engine |
|---|---|---|
| SPI token | @spinvest | SPI |
| LBI token | @lbi-token | LBI |
| Top XV token | @spinvest | XV |
| Eddie Earners | @eddie-earner | EDS |
| EDS miners | @eddie-earner | EDSM |
| EDS mini miners | @eddie-earner | EDSMM |
| DAB | @dailydab | DAB |
| DBOND | @dailydab | DBOND |
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Is this serious or one of your jokes? Not sure. :-D
If it's serious this is the second very speculative investment in a few days (if I remember rightly). I thought the whole point of SPI was slow and steady stuff. (insert thinking emoji here).
Which was the other speculative investment @gillianpearce? I've been moving house, so just catching up.
I can't remember the details it was something I just skimmed I think. Had a quick look and don't see anything unless it was the mention of BTC to Hive. LOL
No this is serious. If this phone is released in 2025, sells out fast and SOL ecosystem is kicking ass, this could turn into a great investment. I cant see it seeing for less than its retail price.
What was the other investment you seen?
Seems I imagined the second investment. Apologies. (See reply to Shani).