Jul 8, 2022
JD, from your Investor Relations team, discusses Solana Lab's Web3 mobile device announcement. As the crypto ecosystem continues to expand, it comes as no surprise that proponents of digital assets would attempt to move into the digital communications space.
JD, from your Investor Relations team, discusses Solana Lab's Web3 mobile device announcement.
As the crypto ecosystem continues to expand, it comes as no surprise that proponents of digital assets would attempt to move into the digital communications space. In late June, Solana Mobile, a subsidiary of Solana Labs, introduced Saga, an Android smartphone integrated with the Solana blockchain and designed with Web3 in mind.
It’s essentially still an android, but Saga enables the secure self custody of crypto assets. Think wallets and an app store for decentralized apps or dapps. Yes, they’re calling it the Solana Dapp Store. What is interesting in our eyes is that fees will be negligible in comparison to the web2 app stores.
This new phone hinges on the idea that use cases of blockchain and crypto technology will continue to creep into other areas of our lives.
However, despite a world welcoming cryptocurrency, it might be difficult to get the globe on board with a crypto smartphone. Both Amazon and Facebook have tried their hand at specialized phones – the Amazon Fire just one year and although Facebook’s phone is still in the market, is largely considered a flop. Despite the market dominance and brand recognition of the makers, neither product was able to break into the smartphone space and position itself as a worthy competitor to Apple’s iPhone or Google’s Android.
Is Solana Mobile’s Saga any different? The phone is created in partnership with Osom, an Android developer and the hardware will be “purpose built for crypto.” Given the zeal with which crypto users embrace not only the various currencies, but the entire ecosystem, it’s possible that a phone tailored to this space will be a welcome addition to the space. And if it succeeds, who knows… maybe Apple and Google tailor their phones towards crypto as well.
The phone is set to be released in early 2023, so we’ll see how it shakes out. Is the future calling on a crypto smartphone?