Chris Curl,
Editor
June 28, 2022
Mobile is the future.
Not just for social media and communications but for the burgeoning world of Web3 as well.
The co-founder and CEO of Solana, Anatoly Yakovenko, realizes this.
Channeling Steve Jobs, he recently announced what could be a groundbreaking development for DeFi and Web3.
At a keynote in New York, he debuted the Solana Saga – a Web3-focused smartphone that will fully integrate the Solana blockchain.
The Solana Mobile Stack, or SMS for short, will be native to the phone and allow users to do everything that currently requires a PC. (SMS is essentially a Web3 layer for Solana built into the phone.)
This includes a seed vault that will safely store the seed phrases for your crypto wallets. It will supposedly do this by merging the security of a hardware wallet with the usability of an internet-connected (hot) wallet. I’ll be very interested to see how this comes together.
It will also contain other custody solutions that will give users options for safely storing their crypto.
On top of this, the Saga will seamlessly integrate Android apps with crypto wallets stored on the phone.
Integrated mobile wallets will also make utilizing DeFi on your phone seamless.
And then there’s Solana Pay, which will allow you to use your phone as a mobile wallet for crypto transactions using the Solana blockchain. This will work much like Apple Pay does for fiat transactions.
You’ll also be able to mint Solana NFTs right on your phone without using a cumbersome web browser extension.
The Saga will include programming tools that will make it easy for developers to create decentralized apps (dApps) and other products for a mobile interface.
The phone will launch in the beginning of 2023 with a $1,000 price tag. It will have a 6.67-inch OLED display, the Qualcomm Snapdragon 8 Plus Gen 1 processor, 12GB of RAM, and 512GB of storage.
This is top-of-the-line hardware, which is what one would expect at that price point. It will also be necessary to perform all of the functions it purports to.
This has the potential to open up a whole new world of crypto payments, DeFi, Play-to-Earn gaming, and NFTs to an ever-increasing audience of smartphone users.
Numerous crypto companies are partnering with SMS including Phantom, Magic Eden, and the popular exchange platform FTX.
There’s even going to be a $10 million developer fund for programmers who build apps for it.
I’ve been telling my readers about the growth potential of the Solana blockchain for a long time. I even predicted its ascent to become a top NFT platform.
With the release of this Web3-focused smartphone, I think Solana is positioning itself to be a step ahead of other layer-1 blockchains as the crypto world begins to move towards its next bull market in the months and years ahead.
You can preorder the Saga for $100, and by doing so will receive a Solana Pass NFT, which will be exclusive to the first set of Saga phones.
Is doing so a good idea?
That’s something you can ask me during our next quarterly “Crypto Call-in” on July 13th. It’s open to all members of my Crypto Cycle publication.
I hope to see you there.
Chris Curl
Editor, Daily Profit Cycle