Imagine Getting Shares of Apple Each Time You Bought a New iPhone (This Is the Crypto Version of That)
TL;DR
Solana Saga phone just broke all of the traditional rules for phone sales, going from 'absolute flop' to 'sold out globally' in a matter of days, thanks to the financial incentives baked into the device.
Saga phone owners are able to claim airdrops (aka crypto giveaways) from crypto projects within the Solana ecosystem...
The crypto networks that stand to benefit from the use and proliferation of the Saga phone are giving away shares of their network value to Saga users. Very cool!
Full Story
Financial incentive is a hell of a drug.
And thanks to crypto, it's starting to find its way into new parts of our lives (in some pretty strange ways).
Take, for example, the Solana Saga phone...
We're all familiar with the cell phone buying process by now. It's some variation of:
Go to a store → point to the newest model → pay → feel 'just ok' with your purchase → struggle to feel anything inside.
These days, there isn't really a clear financial incentive for most of us to upgrade.
In fact, there's probably more financial incentive to stick with the current model and save our money, seeings as mobile technology is no longer taking leaps and bounds with each passing year.
But the Solana Saga phone just broke all of those rules, going from 'absolute flop' to 'sold out globally' in a matter of days, thanks to the financial incentives baked into the device.
Seriously, a few weeks ago, the Saga phone was:
Struggling to sell through its initial production run, moving only 2200 units over 6 months.
Getting its retail price slashed to pieces, going from $1k to $599.
Getting dragged by tech YouTubers.
Now, the Saga phone is:
Selling out worldwide.
Selling on secondary marketplaces, like eBay, for $5000.
Probably still getting dragged by tech YouTubers (can't win 'em all!).
How? Saga phone owners are able to claim airdrops (aka crypto giveaways) from crypto projects within the Solana ecosystem...
Projects like $BONK (the meme coin), which is up ~650% this past month.
The airdrop of Bonk tokens to any Saga owner actually makes the phone a break even purchase at $599.
Ok, so "crypto phone gives away crypto" is that the headline?
Think of it more like this:
This is like getting shares of Apple, each time you buy a new iPhone.
Cause the crypto networks that stand to benefit from the use and proliferation of the Saga phone are giving away shares of their network value to Saga users.
It's a whole new relationship between companies and consumers, where both sides are rewarded for helping to build the networks they're a part of.
Very cool!