Solana Labs expressed regret for overselling the Saga, which caused a surge in demand after clients established the incentives’ value was more than the phone itself.
It has been a rough week for the Solana Saga smartphone. According to a famous YouTuber, it is 2023’s worst phone. Further, it began selling very quickly since purchasers realized it had crypto advantages with more value compared to its sticker price.
Solana Oversold Saga Smartphone
Currently, Solana Labs claims that some of the smartphone units sold in the past week were nonexistent in the first place. Late Thursday, Solana Labs revealed that because of an ‘inventory management problem,’ the firm claims it inadvertently oversold the Saga phone and has exhausted units with an unrevealed number of pending orders.
Additionally, Solana Labs said the error was linked to a third-party distributor’s flaw, which was not disclosed. The firm claimed that all affected clients had been alerted of the matter and a refund would be issued in the next few days.
Despite a request for comment concerning the number of clients affected by the fault, Solana Labs failed to respond. Following months of average sales, Saga phones began selling very quickly last week.
This happened after bold customers established that the smartphone incorporated access to a 30 million BONK airdrop. BONK is a Solana meme coin. The BONK amount was equal to nearly $11 some months ago. However, by last week, BONK’s surprising increase increased its worth to $865, which is significantly more than Saga’s price tag of $599.
Demand for Saga Mobile Phone Beats Supply
When all is said and done, Saga owners who claimed each free perk or airdrop linked to the phone gained tokens whose current worth is more than $3000. The phone’s 20000 units went out of stock within days, which was a reasonably futile win for Solana Labs.
In this case, this phone was a hit, primarily because of the incentives linked to it. Afterwards, the phone got the year’s ‘Bust of the Year’ Smartphone Award from Marques ‘MKBHD’ Brownlee, a YouTuber and technology reviewer.
Using X (formerly Twitter), Brownlee told his millions of followers that any amount of Claynosaurz or BONK could not salvage the phone. Solana Labs tried to pivot the possible humiliation into a humorous viral moment.
Recent Development on the Solana Ecosystem
In this case, it embraced the title and called itself an ‘award-winning’ phone in the following marketing materials. The firm also requested Brownlee to take the ‘Bust of the Year’ trophy to their office, and the Solana project 3. land made a ‘Saga: Bust of the Year’ nonfungible token (NFT) motivated by the award.
After a free mint on Wednesday, Solana nonfungible tokens worth almost $3M have been traded. A few unhappy Saga purchasers who were yet to get their phones were disappointed this week. Others decided to meme concerning the situation.