The recently released Saga smartphone from Project Solana did not meet the public's demand with an initial price of $1000. Even after lowering the price to $599, its popularity did not increase. Low sales and an uncertain future became a challenge for this model.
The founder of Solana, Anatoly Yakovenko, admitted that the weak sales of Saga had put the future fate of this device in doubt. However, the scenario has changed dramatically thanks to BONK, another meme token related to the dog world.
Last week, interested traders took notice of the airdrop of 30 million BONK tokens provided to every buyer of the new Saga smartphone. The value of BONK has skyrocketed 621% over the past month, causing the value of the airdrop to exceed the price of the phone itself. This caused a sudden frenzy of demand for Saga smartphones on the official website, and the entire batch was sold out in literally minutes!
The resonance of this frenzy was evident on Ebay, where several Saga models were sold for $2000, with some offers as high as $5000. This surge in demand is a clear indicator of the market's reaction to the rising cost of BONK and its potential further increase. Buyers are apparently betting on the continued growth of this meme coin, hoping for even higher quotes.
This BONK phenomenon has attracted the attention of other projects running on the Solana platform. Solend, a decentralized financial protocol, and Samoyed Coin, another meme token, announced their plans for airdrops for Saga holders, further spurring demand for sold-out smartphones.
This is a phenomenal example of how you can create hype around limited edition devices and coins. You release a limited batch of smartphones, wallets or other devices, add any token and give away airdrops to buyers. When the price of the token goes up, the gadgets go wild, everyone wins. It's a kind of self-reinforcing event.
Of course, then the price of the meme token might drop, people will start getting rid of smartphones and shitcoins. But then new airdrops fuel interest in the devices that have fallen in price, and this cycle continues. The cryptocurrency industry is always full of such unexpected twists and turns.
All this confirms that the idea of a token campaign can be very productive. For example, the Solana Mobile website has already started taking pre-orders for new smartphones at the price of $599.