Surge in Solana Saga Phone's Value Amid Memecoin Airdrop Frenzy
Summary:
A Solana Saga phone was sold for $5,000 on eBay due to a rush for a free memecoin airdrop. Following the device's launch on May 8 where each phone came with a 30 million Bonk (BONK) token airdrop, its increased value caused the phones to sell out. As the demand grew, more devices were sold on eBay for prices exceeding their original cost. While some buyers speculate on rising memecoin prices, other incentives for users from Solana-related projects may also influence the purchasing decision.
A Solana Saga mobile device was recently purchased on eBay for a staggering $5,000, marking a considerable increase from its retail price due to a rush to claim a complimentary memecoin airdrop, resulting in the phones being sold out on their official website for the first time ever. A December 16th entry on eBay, the e-commerce platform, stated that two brand-new, unopened phones were sold for around $5,000, along with another gadget that fetched a $3,316 price tag. Over the past weekend, an additional 20 gizmos were bought for more than $2,000 each, well above the initial $599 price on Solana Mobile's site.
Ever since the gadget's May 8 launch, every Solana Saga phone comes with a gratis 30 million Bonk (BONK) token airdrop. As the value of Bonk inflated, dealers identified that the airdrop's worth surpassed that of the phone, leading to the device being completely sold out as of December 16th.
Those who are reselling the Solana Saga phones are seemingly betting on the value of the sealed memecoin to inflate even more. In the past month alone, Bonk has seen an almost 800% boost in valuation due to its increasing popularity with memecoin followers and speculative traders. Yet, to gain from the hefty $5,000 asking price, Bonk's value would need to leap another 620% from where it stands presently. This would result in Bonk having a grand total market value of $8.68 billion, putting it on par with Tron (TRX) and Polkadot (DOT).
However, it seems that the Solana phone buyers might not be entirely relying on Bonk's value increase. Several Solana-associated projects recently disclosed airdrops and other financial inducements for device users. On December 17th, the anonymous founder of the DeFi protocol Solend stated in an X (formerly Twitter) post that they're planning an airdrop just for Saga phone possessors.
Moreover, another memecoin venture, Samoyed Coin (SAMO), declared that they'll be launching an airdrop for Saga holders, with extra specifics forthcoming. Earlier, on November 15, decentralized storage firm GenesysGo announced that users would be able to mine its own Shadow (SHDW) token via an application on the Saga phone.
Published At
12/18/2023 4:23:51 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.