BasEx | Solana Reports Shortage of Saga Smartphones
Solana reports shortage of Saga smartphones
25.12.2023
Solana reports shortage of Saga smartphones

The Solana team has faced the need to cancel some orders for the Saga blockchain smartphones due to a lack of stock at their distributor. This occurred as a result of an unexpected surge in demand, leading to the sell-out of the planned reserve of 20,000 units for the US and EU markets.

Solana confirmed that they did not have a complete picture regarding the state of inventory and noted the impossibility of quick replenishment.

Following this news, the price of Saga smartphones on eBay soared to $5500, whereas just a few days ago, most transactions were made at prices below $3000.

Another reason for cancelling some orders was the suspicion of speculative intentions by the buyers.

Saga, introduced in June 2022, integrates Web3 features into its hardware and software, allowing the device to be used as a hardware wallet. Other advantages of the device include a month of free access to the Helium wireless network, bonuses in the Honeyland game, early access to Genopets, and NFTs.

Anatoly Yakovenko, founder of Solana, previously admitted to low sales of the smartphone, indicating only 2200 units sold since the product launch.

The recent surge in demand is presumably related to the spread of BONK meme-tokens. By purchasing Saga, the buyer automatically receives 30 million BONK coins. At their peak value on December 15th, according to CoinGecko, the assets exceeded $900, and even at current quotes, the tokens approximately cover the cost of the smartphone at $599.

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