Solana’s upcoming ‘Chapter 2’ mobile device has sparked excitement among crypto enthusiasts, and not just for its technological features. Pre-order holders of the device have been the recipients of a series of memecoin airdrops, some of which have briefly exceeded the cost of the phone itself.
TLDR
- Airdrops of memecoins MEW and MANEKI to pre-order holders of the Solana ‘Chapter 2’ mobile device briefly exceeded the device’s $450 pre-order cost.
- On April 1st, MEW airdropped 37,600 tokens to each Chapter 2 pre-order holder, and on April 24th, MANEKI airdropped 5,199 tokens.
- At their peak prices, the combined value of these two airdrops reached $459, allowing holders to cover the $450 pre-order cost and make a small profit.
- Other memecoins like WUFFI, IQ50, and CWIF were also airdropped to Chapter 2 pre-order holders, adding to the overall value.
- This phenomenon mirrors the situation with Solana’s previous ‘Saga’ phone, where the airdropped BONK memecoin briefly exceeded the phone’s cost, driving high demand.
The most notable of these airdrops were from the cat-themed memecoins MEW (Cat in a Dog’s World) and MANEKI. On April 1st, the MEW team airdropped a substantial 37,600 tokens to each Solana wallet address that had pre-ordered the ‘Chapter 2’ device. At the token’s peak price of $0.0089, this airdrop was worth a hefty $334.
Just a few weeks later, on April 24th, the MANEKI team followed suit, airdropping 5,199 of their tokens to the same set of wallets. MANEKI’s price surged after the airdrop, reaching a high of $0.269 on April 25th, making the airdrop worth a significant $1,398 at its peak.
When combined, the value of these two airdrops alone briefly hit $459, exceeding the $450 pre-order cost of the ‘Chapter 2’ device. This meant that pre-order holders could, at least theoretically, resell their airdropped tokens and effectively receive the phone for free, or even make a small profit.
However, the ephemeral nature of memecoin prices means that this opportunity was short-lived. As of this writing, the MEW airdrop is now worth around $220, while the MANEKI airdrop has dropped to approximately $124 in value.
Nevertheless, the total value of all memecoins airdropped to ‘Chapter 2’ pre-order holders remains substantial. In addition to MEW and MANEKI, projects like Wuffi (WUFFI), iq50 (IQ50), and Catwifhat (CWIF) have also airdropped tokens to these wallets.
NEWS: @solanamobile Chapter Two Pre-Orders Now Effectively Free as Airdrops Surpass Original $450 Phone Cost https://t.co/IgVoV5Hw6V
— SolanaFloor (@SolanaFloor) April 25, 2024
The combined value of all these airdrops currently stands at around $385, still a significant portion of the device’s $450 pre-order cost.
This phenomenon is not entirely new in the world of Solana mobile devices. The company’s previous offering, the ‘Saga’ phone, also garnered significant attention due to the airdrop of the dog-themed memecoin BONK.
In December 2023, the value of the 30,000 BONK tokens airdropped to each ‘Saga’ phone holder surged past $1,150, exceeding the device’s original $599 price tag.
The BONK airdrop sparked a frenzy of demand for the ‘Saga’ phone, with Solana’s limited inventory of 20,000 units selling out rapidly.
Some reports even indicated that resellers were flipping the devices on platforms like eBay for as much as $5,000, capitalizing on the memecoin’s skyrocketing value.
While the ‘Chapter 2’ airdrops have not yet reached the same level of frenzy, the situation demonstrates the continued allure of memecoins and the gamification of cryptocurrency ecosystems.
By offering token airdrops as incentives, projects like Solana aim to drive user engagement and foster a sense of community around their products.
As the ‘Chapter 2’ device approaches its tentative 2025 release date, it remains to be seen whether additional memecoins will follow in the footsteps of MEW, MANEKI, and their feline counterparts, further inflating the value of the airdrops for pre-order holders.
