Disappointing Sales for Solana's Web3 Smartphone, Saga

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Disappointing Sales for Solana's Web3 Smartphone, Saga

Solana's flagship smartphone-crypto wallet hybrid, Saga, failed to meet sales expectations, prompting internal discussions about its future. Solana founder, Anatoly Yakovenko, acknowledged that the sales figures for Saga have been underwhelming, attributing the lackluster performance to the improved user experience of regular smartphones in navigating Web3. As a result, Solana is considering a shift towards a more affordable "smart wallet" for its next hardware venture.

In June 2022, Solana Mobile introduced its flagship smartphone-crypto wallet, Saga, designed to enhance the mobile experience for Web3 users. However, less than 18 months after its launch, the founder of Solana, Anatoly Yakovenko, revealed that the sales of Saga have been disappointing, prompting internal discussions about its future. Despite his acknowledgment that Saga was well-received by Solana superfans, it failed to attract the anticipated user base, which, Yakovenko stated, is necessary to justify building applications for the phone. The improved user experience of regular smartphones in navigating Web3 and the availability of passkeys and progressive web apps that bypass app store restrictions have contributed to Saga's underwhelming sales. Yakovenko himself confessed to using his iPhone for everyday business rather than his own Saga, utilizing the Saga primarily as his "NFT phone."

Yakovenko also acknowledged the potential market for a more affordable "smart wallet," which would combine crypto custody with additional lightweight features, catering to a broader audience beyond dedicated Web3 users.