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Solana Labs is building a Web3 mobile phone

Solana blockchain advocates say the devices will cost around $1,000 and be available for delivery in early 2023.

The Solana Network is getting its own mobile phone called “Saga”, an Android handset by the main stakeholder of the blockchain, Solana Labs.

The upcoming device – a modified OSOM handset with special crypto wallet functions and a “Solana Mobile Stack (SMS)” software development kit for Web3 programs – was announced on Thursday at an event in New York. It will cost around $1,000 and be available for delivery in early 2023, Solana Labs CEO Anatoly Yakovenko said.

The phone marks Solana’s biggest bet in mobile-focused development. It will have a Web3 dapp (decentralized app) store, “Solana Pay” integration to support QR code-based on-chain payments, a mobile wallet adapter, and a “seed vault” that will store the keys. individuals deep in the recesses of the phone .

Everything is moving. In most countries, most access happens through mobile phones,” said Sam Bankman-Fried, CEO of crypto exchange FTX and key Solana supporter. at this event. “But crypto mobile is behind the times,” he said, noting how increasingly complex it is to access dapps on mobile devices.

The best solution for this is to integrate the actual wallet into your phone,” Bankman-Fried said.

Solana Labs says it will work with other companies to power the phone-building ecosystem, including Magic Eden, the leading NFT (non-fungible token) marketplace, Phantom, home offers the largest wallet and Orca, a decentralized finance (DeFi) platform. CEOs of all three were present to discuss the upcoming mobile experience.

Executives compared the mobile app store Solana to the markets of Google and Apple, where sales fell. “There will be no discount fees,” Yakovenko said of the store that uses SMS.

The Solana Foundation has committed $10 million to accelerate the development of its SMS mobile applications.
Yakovenko, a Solana co-founder, said in a press release: “We live our lives on mobile devices – with the exception of Web3 because there is no mobile-centric method to manage it yet. private key management. Solana Mobile Stack shows a new direction on Solana that is open source, secure, optimized for Web3 and easy to use.”

This is not the first Web3 smartphone gambit. Sirin Labs pursued plans in 2018 to ship a blockchain-based phone but faced layoffs and lawsuits due to the product failing to gain traction.

When asked about the shortcomings of previous efforts to bring crypto-friendly phones to market, Yakovenko, a former Qualcomm engineer, said the Solana phone is better positioned to succeed because There are more crypto developers in the space compared to 2018.