Saga mobile by Solana sells out as Bonk token surges 7%

The Solana-backed mobile phone is designed to enhance web3 functionality and comes with an airdrop of 30 million Bonk tokens.

The news that the once-struggling Sagas are sold out comes amid a rush of traders to the Solana Bonk (BONK) meme coin. Promotion of the phone involved an airdrop of 30 million Bonk tokens, equivalent to about $700, despite the ticket price of the device in the U.S. being $599.

Bonk, which has grown by more than 1,000% over the past month and has become available for trading on major crypto exchanges, including Binance and Coinbase, has risen in price by 7% to $76.36 at the time of writing.

The Saga smartphone was presented as a “killer” for Google and Apple and released in May 2023. It is built on the Android operating system with 512GB memory, dual rear camera lenses, a 6.67-inch OLED display, and a fingerprint scanner.

The company called the Solana Mobile Stack (SMS) function the device’s main feature. This is a list of custom add-ons that integrate Web3 functionality into your phone’s hardware and software.

According to Saga, the phone is “the next step towards wider adoption of Web3 on mobile devices and further improvement of interaction with the Solana mobile community.”