Solana Labs is launching a new subsidiary with the goal of developing mobile application technology. Solana developers are creating a crypto-native phone as part of the initiative.
The team behind Solana is attempting to barge into the telecom market with the release of an Android phone and a new subsidiary dedicated to web3 mobile apps.
Solana Labs CEO Anatoly Yakovenko revealed the new Android phone, called Saga, at a conference in New York City. The group is creating the gadget specifically for web3, which includes decentralized trading platforms and NFT marketplaces.
The phone will come equipped with a 6.6-inch touchscreen, 512 GB of storage, and private key security features. Pre-orders for the gadget require a $100 deposit and might cost up to $1,000. Solana Mobile intends to start shipping the device by Q1 2023.
The transition into mobile is a reflection of Yakovenko’s prior work as an engineer at Qualcomm, where he supervised teams that developed technology used by companies like Samsung, LG, and Google.
“Almost 7 billion people use smartphones around the world and more than 100 million people hold digital assets – and both of those numbers will continue to grow,” said Yakovenko, a Solana co-founder. “Saga sets a new standard for the web3 experience on mobile.”
The flagship product of Solana Mobile, a recent division of Solana Labs, is Saga. Solana Mobile will provide developers with a toolkit to construct mobile-first cryptocurrency applications on the Solana blockchain in addition to expanding Saga.
According to a press release, the so-called Solana Mobile Stack “provides a new set of libraries for wallets and apps, allowing developers to create rich mobile experiences on Solana.” Solana is investing $10 million into a new ecosystem fund to encourage developers to create apps utilizing the Solana Mobile Stack.
The emphasis on hardware marks a significant shift in order to put Solana in the hands of mobile web3 users. The network has had to contend with a number of technological challenges, such as several network outages, the most recent of which happened in early June.