Solana Labs co-founder teases risk of third cell machine
Final month, Solana Cell’s flagship web3 smartphone, the Saga, bought out. Final week the Solana Labs’ subsidiary launched its second cellphone and received over 40,000 preorders in lower than per week. However the firm just isn’t slowing down anytime quickly.
“After Saga bought out, it felt like there’s a possibility and the timing available in the market was proper,” Anatoly Yakovenko, co-founder of Solana Labs, mentioned on TechCrunch’s Chain Reaction podcast. “The timing [for the new phone] labored out proper round that second.”
And if the second machine is successful, there might be a 3rd cellphone launched in a while, Yakovenko hinted. Web3 cellphones will not be a punchline, in different phrases, however a possible progress class.
However Solana Cell’s highway to progress wasn’t a straightforward one. Its first Saga handset didn’t see a lot demand when it launched mid-2023 at $1,000. It quickly lowered the worth to $599 in mild of weak demand.
Saga’s fortunes improved after crypto customers seen the dog-centric memecoin BONK’s decentralized app (dApp) offered Saga house owners with 30 million of its tokens without spending a dime, which was valued across the identical value because the cellphone on the time. The Saga then bought out shortly.
“I believe crypto was going via a tough bear market, and the Solana ecosystem was feeling the worst of it,” Yakovenko mentioned. “We had been on the lookout for extra devs to go to launch and I’d say [we were] type of in survival mode as a result of throughout that chasm of despair you simply have to survive till one thing like macro [turns the market] round.”