The Solana Saga phone, a product linked to the cryptocurrency ecosystem, has recently seen a dramatic surge in resale value on eBay. This increase is primarily driven by the frenzy to acquire a free airdrop of the memecoin Bonk (BONK), which comes with each new phone. As a result, the phones sold out on the official Solana Mobile website for the first time.
A listing on eBay dated December 16 shows that two unopened Solana Saga phones were sold for $5,000 or the “best offer,” while another device went for $3,316 or the “best offer.” Over the weekend, an additional 20 devices were sold for upwards of $2,000 each, significantly higher than the original retail price of $599 on the Solana Mobile website.
Since its launch on May 8, each Solana Saga phone has been bundled with a free airdrop of 30 million Bonk tokens. Recently, traders noticed a substantial price increase in Bonk, making the value of the airdrop exceed the phone’s cost. This led to the phone being listed as “SOLD OUT” on the official website as of December 16.
The buyers of these resold Saga phones are likely speculating that the value of Bonk will continue to rise. In the past 30 days, Bonk’s value has surged by nearly 800%, attracting the attention of memecoin enthusiasts and traders. However, for these traders to justify the steep $5,000 resale price, Bonk’s value would need to increase by an additional 620%. This would elevate Bonk’s market cap to around $8.68 billion, putting it in a similar valuation range as cryptocurrencies like Tron (TRX) and Polkadot (DOT).
But the interest in the Solana Saga phone may not be solely due to the Bonk airdrop. Several Solana-based projects have announced additional airdrops and financial incentives for Saga phone users. For instance, in a December 17 post on X (formerly Twitter), the pseudonymous founder of the DeFi protocol Solend revealed plans for an airdrop exclusive to Saga phone holders. Similarly, the memecoin project Samoyed Coin (SAMO) announced an impending airdrop for Saga owners, with more details to be released soon.
Furthermore, on November 15, GenesysGo, a decentralized storage provider, announced that Saga phone users would be able to mine its native Shadow (SHDW) token through a dedicated application. This array of incentives and airdrops is likely contributing to the heightened demand and resale value of the Solana Saga phone.
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