Solana Mobile’s recently announced Chapter 2 web3 phone has seen skyrocketing demand, with preorders selling out within the first day of the launch announcement.
The Solana Mobile Chapter 2 phone was announced earlier this week as a cheaper follow-up to the company’s first web3 phone, the Saga. Chapter 2 is being offered initially at $450, less than the $599 price tag for the Saga.
Chapter 2 Sales to Eclipse Saga’s First Year
Solana Labs co-founder Raj Gokal told TechCrunch that Chapter 2 hit its seven-day sales goal in just the first 24 hours. An impressive 25,000 preorders came in within the first day, followed by 30,000 orders in the first 30 hours after the launch.
This is a massive increase compared to the Saga, which saw lackluster demand when it debuted mid-last year with a $1000 price point. The Saga didn’t gain popularity until its price was dropped to $599 and it started offering crypto rewards to owners through decentralized apps.
SAGA gained popularity almost overnight when the decentralized app Bonk announced it would provide 30 million BONK tokens to SAGA owners for free. At the time, the 30 million BONK tokens were worth more than the $599 cost of the SAGA phone, which meant users could essentially get the SAGA device for free just by claiming their BONK crypto reward.
The promotion catalyzed a sales frenzy, with SAGA selling out in just two days after the Bonk announcement as crypto fans rushed to claim their free tokens along with the phone.
Now, Chapter 2 is set to eclipse 12 months’ worth of Saga sales in its first week alone, demonstrating the outstanding interest in Solana Mobile’s new cheaper web3 phone.
What’s Driving the Preorder Frenzy?
There are several factors contributing to the red-hot demand for Chapter 2 presales.
Firstly, the phone offers similar web3 capabilities to the Saga at a more affordable $450 price point. This combines with crypto fans’ growing awareness of the benefits offered by web3 phones like built-in crypto wallets and access to decentralized apps.
Secondly, the success of BONK promotion for the Saga has built anticipation that the new phone will offer even more lucrative incentives.
— Big Joe (@SolanaMoJo) January 18, 2024
While Chapter 2 won’t have the Saga’s genesis token for redeeming rewards, Solana Mobile has hinted at “building on this experience” with partnerships with crypto projects offering incentives to new phone owners.
Lastly, Solana Mobile designed Chapter 2 to enable greater flexibility for developers and users in the web3 space. With no restrictions on supported tokens or NFTs, and no platform fees, crypto projects have a greater incentive to partner with Solana Mobile.
Can Solana Mobile Sustain the Hype Around Chapter 2?
The key question is whether Solana Mobile can sustain interest and sales momentum for Chapter 2 leading up to its slated launch in early 2025.
The company will need to deliver on its promises of crypto incentives for Chapter 2 owners. The demand might turn out to be merely hype that will fizzle out, especially with tech fans’ tendency to have short attention spans.
Regardless, the staggering early preorder numbers demonstrate the surging mainstream appeal of web3 phones. If Solana Mobile can capture and hold people’s imagination, Chapter 2 could start a new chapter of rapid growth for web3 mobile adoption.
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