New Ethereum Smartphone sold out in record time

Blockchain Web3
New Ethereum Smartphone sold out in record time

The pre-sale of the new Ethereum-based smartphone saw all 50 units snapped up within just 24 hours. Each device is equipped with the distinctive ethOS – a unique operating system underpinned by a smart contract network.

Ethereum Smartphone functions as a light node

Dubbed the “Ethereum Phone”, this cutting-edge mobile is modeled after the Google Pixel 7a. However, it’s the ethOS – short for Ethereum operating system – that sets it apart. The term ethOS also translates to “character” in Greek, adding an extra layer of meaning.

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Ethereum Phone (Source)

Far from ordinary, the new phones possess an in-built Ethereum light client. This means the ethOS can autonomously validate blocks, transforming the device into a “light node” within the Ethereum network.

Multiple tools available

The smartphone boasts multiple integrated tools designed for payment handling and message transmission. To simplify payment processes, it incorporates the Ethereum Name Services (ENS). Moreover, the phone offers support for Ethereum Virtual Machines (EVM) and is compatible with Layer 2 scaling networks.

Demand outweighs supply

However, acquiring one of these innovative phones wasn’t straightforward. Only 50 units were released for the initial pre-sale. To be eligible for a purchase, prospective buyers first had to secure an ethOS non-fungible token (NFT). Once acquired, this NFT could be either burned or destroyed to reserve the smartphone.

Yet, with innovation comes imitation. A recent tweet warned of counterfeit NFTs circulating on OpenSea, a leading NFT marketplace. Astonishingly, some genuine ethOS NFTs have been spotted on OpenSea, fetching prices of around three Ether (ETH), equivalent to nearly $5,000. By comparison, the standard Google Pixel 7a has a price tag of just $499 in the US – a tenfold difference.

Facing competition from the Solana Saga

The mobile Web3 space is becoming increasingly competitive. Notably, the Ethereum smartphone’s rival, the Solana Saga smartphone, hasn’t enjoyed the same level of success. Data from Flipside indicates that just over 2,000 units have been sold since its launch.

In response, Solana Labs slashed the phone’s price from $1,000 to a more competitive $599. The strategic move followed the announcement of the Ethereum smartphone’s highly-anticipated premiere this fall.

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