At the end of last year, the release of the Web3 mobile phone Solana Saga triggered a buying spree, and the subsequent premium in the secondary market was pushed up to $15,000. Since the value of the various rights and interests attached to it is much higher than the device itself, many crypto users who did not participate in the limited sale activities regretted it.
Recently, CoralApp, invested and incubated by Binance Labs, officially announced that its first Web3 mobile phone CoralPhone will be available for limited sale soon. CoralPhone is not only the first BNB mobile phone, but also the first multi-chain ecological aggregator, which has aroused heated discussions in the community:Is the "BNB mobile phone" coming? Can it bring a new wave of Web3 mobile phone dividends?
01 Multi-chain Ecological Intelligent Web3 Entrance
Coral Phone, known as the first "AI flagship phone" in the Web3 field, is a dedicated smartphone for Web3 users launched by CoralApp. It will launch high-, medium- and low-end models to meet the needs of different countries and regions. It adopts the Android kernel layer architecture, customizes and optimizes the system OS from the bottom layer, and will be equipped with the top AI chip in the mobile phone industry. It innovates and explores the integration of AI-driven technology and DePIN services, bringing new smart hardware and underlying system-level infrastructure and the entrance to the Web3 world to the encryption industry.
CoralApp, headquartered in Dallas, Texas, was founded in 2020 and is currently valued at $150 million. It was incubated and invested by Binance labs, and institutions such as Unicornverse, Gate, Skry Labs, AC Capital, PAKA, and OX Consulting participated in the first round of investment. The second round of investment institutions will be announced in the fourth quarter of 2024, and the scale of financing is expected to exceed that of Solana's ecological mobile phone project Saga.
CoralApp founder Dr. Bunmi Babajide has formed an industry-leading software and hardware service team, with a North American Internet hardware doctor and authoritative experts in the field of Web3 security, and has a reserve of technical talents such as original code development and optimization papers and patents. In terms of hardware manufacturing, it is also the first Web3 mobile phone project to sign a subscription agreement with hardware manufacturers in twelve countries around the world, fully guaranteeing global production, delivery, logistics, network access and other full-service.
Since CoralApp is the first project incubated by Binance Labs to launch a Web3 mobile phone, according to the positioning of the previous Solana mobile phone Saga project, many people habitually regard CoralPhone as a "BNB mobile phone", butin fact, CoralApp is positioned as a hardware and system OS-level Web3 portal that supports multi-chain ecology. Currently, CoralApp is the first to support the BNB Chain ecology while also cooperating with more than 150 projects in well-known public chain ecology such as Solana, Scroll, Swam, Tap, etc. In addition, the partners who are constantly expanding in the future will provide CoralPhone with diverse rights and benefits.
02 What are the advantages and benefits of Web3 dedicated devices?
At present, almost everyone has a general-purpose smartphone to access Web3 applications, so why use Web3 dedicated devices? In fact, take the recently popular "Black Myth: Wukong" incident as an example. Since 3A masterpieces have very high hardware requirements, many people are struggling to decide whether to use a general Windows console or a dedicated PS5 or other devices to play. As a dedicated gaming device, the PS5 has made great optimizations in hardware, system, and application platform. A general PC configuration with the same graphics card performance as a PS5 priced at around 3,000 yuan costs 6,000 to 8,000 yuan, and it also requires complex processes such as downloading, installing, and configuring by yourself. It is not as "silky" as the dedicated gaming console PS5, which can be played right out of the box.
To date, there are more than 400 million crypto users worldwide. Web3 has become a mainstream industry, and the call for dedicated devices is getting louder and louder. Taking Coral Phone as an example, it can at least bring the following advantages and benefits:
1) Exclusive ecological dividends from official and third-party cooperation projects
Benefits! Benefits! Benefits! Important things should be said three times. Web3 projects, especially the super bonuses of new tracks, all early participants are "full of money". At present, the Web3 mobile track has high costs for upstream and downstream industries and high initial investment, so there are few strong players, and early bonuses will be relatively concentrated, especially for early bird users. This can be referred to the early users of the Solana Saga generation. CoralPhone for multi-chain users will receive more benefits due to extensive cooperation.
At present, CoralPhone is about to be released. In addition to enjoying lower prices, early bird users will definitely get the most benefits from various cooperative ecosystems. This is because high-quality Web3 project parties have seen the value behind Web3 mobile phone projects and ecosystems: it not only brings new users a low-threshold entry, but also serves as a vertical and precise "distribution center" for high-net-worth target users.
Users who are willing to pay to try and test innovative Web3 phones are most likely deep Web3 users that major crypto communities are vying to attract. At the same time, the OS system-level Web3 entrance will bring a lot of DApp customization optimization, attention marketing and other cooperation, and third-party projects will be happy to distribute tokens and other benefits to Web3 phone users.
2) Zero-threshold entry user experience derived from underlying optimization
In the past few years, the entire crypto community has been exploring expansion, account abstraction, etc. to lower the threshold for use and improve user experience to open up large-scale adoption of future Web3 applications.
In fact, even after crypto assets have become mainstream assets, people still face various barriers to using Web3 applications through mobile phones. Take the most basic crypto wallets, platform apps and "Google Password Authenticator APP" for example. Android phones need to install Google Play and Apple AppStore accounts need to change regions. These two operations seem simple, but in fact they directly discourage most entry-level users. Do you think you can download it by searching on a search engine? Sorry, viruses and Trojans will follow, and many people's crypto assets have been stolen in this way.
Whenever a newcomer asks for advice on how to install a wallet, Google Password Authenticator, etc., I have to say responsibly that the complexity cannot be solved in a few words. At this time, there is an urgent need for a smartphone that is friendly to crypto APPs, has a built-in secure encryption chip management wallet, comes with an app store for direct download without interception, and has market software and flash news eye-catching prompts, etc., which is specially optimized for Web3 users to get started right away.
3) A more secure Web3 APP, Dapp operation and interaction environment
Because it involves operations such as encrypted asset payment and collection and on-chain interaction, a necessary condition for Web3 dedicated devices must be "safety". Compared with general mobile phones, dedicated devices can provide a more secure Web3 APP, Dapp operation and interaction environment.
Simply put, daily mobile phones will definitely download a large number of APPs provided by different third-party manufacturers and browse various web pages. These APPs are constantly asking the operating system for various permissions, including uploading files, obtaining clipboard information, screenshots, album viewing, etc. In general, the system operation environment of general devices is still relatively complex, and there will be some concerns when asset interactions are involved in Web3 applications.
Specialized devices can circumvent and optimize these security issues. Taking CoralPhone as an example, by optimizing the underlying system, it can not only provide a pure operating and interactive environment for encryption-related APPs and DApps, customize built-in system-level security rules and policies to isolate risks from daily use, but also improve the special call restrictions for sensitive permissions. At the same time, as mentioned above, the built-in application store can be specially classified, and a team with rich experience in encryption security audits is also invited to audit the security of Web3 applications on the platform.
Of course, as Web3-specific hardware, its own security is also of great concern. So can CoralPhone guarantee the security of its own software and hardware?
CoralPhone is as transparent as general mobile phone accessories in hardware, with a built-in security encryption chip to manage sensitive operations, and most of the software can be open source, which is conducive to external audit and supervision. CoralAPP itself can also find a professional security team to conduct security audits. At the same time, as an entry-level hardware for Web3 connected to the Internet, you can only store a small amount of change in the hot wallet for use and interaction with DAPP to participate in activities to receive benefits, etc., or just use it as a wallet for viewing. The signing operation of offline devices will further enhance its security.
4) Unleash the potential of DePIN and AI
According to the official roadmap of CoralApp, the high-end CoralPhone model not only pursues high configuration in the mobile phone industry, but also plans to build it into a smart device with DePIN services and AI capabilities.
Specifically, the DePIN track currently has a variety of IoT devices, and the design and equipment costs are high, while many Web3+AI projects have special requirements for AI chips. CoralPhone uses the advantages of its own hardware and OS system customization to optimize the design for the DePIN direction. It can also be used as an IoT device, while introducing the latest AI smart chips to provide corresponding services.
In general, while CoralPhone meets the Web3 entrance, it is heading towards the future DePIN and AI tracks, borrowing the latest technology hardware exploration and innovation, covering the dividends of the two tracks, and releasing the potential of DePIN and AI.
03 What is the difference between CoralPhone and Solana Saga?
Comparing the two most popular Web3 mobile phone projects, CoralPhone and Solana Saga, it is not difficult to find that compared with Saga, CoralPhone not only brings multi-chain benefits, but also makes more optimizations to the system, applications, and community support. In the future, the models will be diversified, and the high, medium, and low-end will meet the needs of Web3 users in different countries and regions around the world, which will be more friendly to entry-level users and more conducive to market expansion.
04 Is CoralPhone worth the money?
From the official information, the Web3 exclusive device brought by CoralApp is quite sincere. Unlike the product that has not started yet, holding a PPT, it needs to deal with the upstream and downstream before going online, and conduct a lot of research and development, production, and testing. The initial investment is quite high. But in any case, users always have to see whether CoralPhone can be worth the money. After analysis, we believe that it is mainly reflected in the following points for your reference:
1) Special rights and dividends
As mentioned above, in addition to the ecological token of the CoralApp community, it has established cooperation with a large number of well-known public chain ecological projects such as BNB Chain, Solana, Scroll, Swam, Tap, etc. In the future, more cooperation will continue to expand, The most important of which is the benefits from high-quality top projects. Of course, as a DePIN and AI smart device, in the future, it will also be used as a dedicated device for mining high-quality projects in the DePIN and AI tracks. It can be described as a multi-chain Web3 hardware bonus "aggregator" with an entry-level unboxing system.
2) Hardware cost-effectiveness
From the current hardware parameters, it meets the configuration of mid-range mobile phones. According to the relevant person in charge of CoralApp, the hardware production cost of the CoralPhone of the Coral Neural 3 (mid-range) model launched this time is about $300. If the huge investment in the early stage of software and hardware design and development is added, the early bird price of $499/original price of $699 is still quite realistic.
3) Top institutional platform ecological resource support
For projects incubated and invested by Binance Labs, it is not just about funds, but also about the support of various resources within the large ecosystem of Binance, the world's largest crypto asset platform, including publicity and promotion traffic, high-quality project cooperation and docking.
4) BNBChain ecological potential in a low-lying state
As we all know, the BNBChain ecosystem has not performed particularly well in this round of bull market, and the ecosystem is sluggish.
The BNBChain ecosystem urgently needs high-quality projects in innovative tracks such as CoralAPP to inject new vitality and drive the BNBChain ecosystem out of the trough.At the same time, the Web3 mobile phone project that takes the lead in supporting the almost exclusive BNBChain ecological niche can also obtain unique dividends when the BNBChain ecosystem returns to the upward channel.
5) Future development prospects
From CoralAPP's current layout, it is not difficult to find that what it wants to do is to do a good job in Web3 mobile phone software and hardware, focus on the basic product suite (including Coral Phone, Coral OS, Coral Mobile Stack and CoralApp),let Web3 hardware devices spread across the global market become new traffic entrances, open up third-party project cooperation, and build a Web3 multi-chain interconnected ecological platform based on hardware and underlying OS support.
In fact, it is similar to the Xiaomi ecological chain in the mobile Internet. Xiaomi focuses on the development of hardware and OS UI, application stores and ecological platform operations, makes mobile phones a part of the mobile Internet traffic entrance, and then opens various capabilities and interfaces for third-party project cooperation to access, and finally becomes one of the largest forces in the mobile Internet ecology.
05 Conclusion
The upcoming CoralPhone is undoubtedly a strong player in the Web3 mobile phone track. It not only brings new bonus opportunities to users, but also brings a new low-threshold entry to the Web3 industry. Through innovation and exploration of DePIN and the release of AI potential, it has brought Web3 devices into a new development path, which deserves the close attention of the crypto community. In the future, whether this CoralAPP can continue to bring more dividends remains to be tested by the market and revealed by time. Let's wait and see.
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