A new wave of Web3 mobile dividends is coming?
By: Bob, Plain Language Blockchain
At the end of last year, the release of the Web3 mobile Solana Saga sparked a buying frenzy, and the secondary market premium pushed up to $15,000, due to the various equity values attached to it far exceeding the value of the device itself, causing many crypto users who did not participate in the limited sale to regret.
Recently, CoralApp, invested and incubated by Binance Labs, announced the upcoming limited release of its first Web3 mobile phone, CoralPhone, CoralPhone is not only the first BNB phone, but also the first multi-chain ecosystem aggregator, sparking community discussions: "Is the 'BNB phone' coming? Can it bring a new wave of Web3 mobile dividends?"
01 Multi-chain ecosystem smart Web3 entry
Coral Phone, known as the first "AI flagship phone" in the Web3 field, is a dedicated smart phone for Web3 users launched by CoralApp, which will release high, medium, and low-end models tailored to the needs of different countries/regions, using the Android kernel architecture, while customizing and optimizing the system OS from the bottom layer and equipping the top AI chip in the mobile industry, innovating and exploring the integration of AI-driven technology and DePIN services, bringing new smart hardware and underlying system-level infrastructure to the crypto industry and the entry to the Web3 world.
CoralApp, headquartered in Dallas, Texas, was founded in 2020 and is currently valued at $150 million, incubated and invested by Binance Labs, with participation from institutions such as Unicornverse, Gate, Skry Labs, AC Capital, PAKA, OX Consulting in the first round of investment. It is expected to announce the second round of investment institutions in the fourth quarter of 2024, with a financing scale expected to exceed the Solana ecosystem mobile project Saga.
CoralApp founder Dr. Bunmi Babajide has assembled a leading team in the industry, with expertise in software, hardware services, and Web3 security, including a North American internet hardware doctorate and authoritative experts in the Web3 security field, with a reserve of technical talents in original code development and optimization papers and patents. In terms of hardware manufacturing, it is also the first Web3 mobile phone project to sign ordering agreements with hardware manufacturers in twelve countries around the world, fully guaranteeing global production, delivery, logistics, and network access services.
As CoralApp is the first project to launch a Web3 mobile phone incubated by Binance Labs, following the positioning of the previous Solana mobile phone Saga project, many people habitually regard CoralPhone as the "BNB phone", but in fact, CoralApp is positioned as a hardware and system OS-level Web3 entry that supports multi-chain ecosystems. Currently, CoralApp first supports the BNB Chain ecosystem while also collaborating with over 150 projects in well-known public chain ecosystems such as Solana, Scroll, Swam, and Tap, and future expanding partners will provide diverse benefits and incentives for CoralPhone.
02 What are the advantages and benefits of Web3 dedicated devices?
Currently, almost everyone has a general-purpose smartphone for accessing Web3 applications, so why use a Web3 dedicated device? In fact, take the recent "Black Myth: Wukong" event that just gained popularity as an example. Due to the high hardware requirements of the AAA masterpiece, many people are struggling with whether to use a general Windows host or a dedicated PS5 and other devices to play. As a dedicated gaming device, the PS5 has made significant optimizations in hardware, system, and application platforms, with a PS5 of around 3000 yuan having the same graphics card performance as a general PC configuration of 6000-8000 yuan, while also requiring self-download, installation, and configuration, which is not as smooth as the "out-of-the-box" experience of a dedicated gaming console like the PS5.
So far, there are already over 400 million crypto users worldwide, Web3 has become a mainstream industry, and the demand for dedicated devices is increasing. Taking Coral Phone as an example, it can bring at least the following advantages and benefits:
1) Exclusive ecological dividends from official and third-party cooperation projects
Welfare! Welfare! Welfare! Important things are said three times. For Web3 projects, especially the super dividends of new tracks, early participants are all "full of benefits". Currently, due to the high costs required by the upstream and downstream industries in the Web3 mobile phone track, early investment is high, so there are few strong players, and early dividends will be relatively concentrated, especially for early bird users, as can be seen from the early users of Solana Saga, and the CoralPhone, targeting multi-chain users, will have more extensive benefits due to its wide-ranging cooperative reception.
Currently, with the imminent release of CoralPhone, early bird users will not only enjoy lower prices, but also a wide range of cooperative ecological benefits. This is because high-quality Web3 projects see the value behind the Web3 phone project and ecosystem: it not only brings new users with low entry barriers, but also serves as a "distribution center" for high-net-worth target users in a vertical and precise manner.
Users willing to spend money to try and test innovative Web3 phones are likely to be deeply sought after by major crypto communities, and the OS-level Web3 entry will bring many DApp custom optimizations, attention marketing, and other collaborations, 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 optimizations
In the past few years, the entire crypto community has been exploring scalability, account abstraction, and other measures to reduce entry barriers and improve user experience to enable the large-scale adoption of future Web3 applications.
In fact, even though crypto assets have become mainstream assets today, people have always faced various entry barriers when using Web3 applications on their phones. Take the most basic crypto wallet, platform apps, and "Google Authenticator" app for example, on Android phones, you need to install Google Play, and on Apple phones, you need to change regions for the AppStore account. These two operations, seemingly simple, but in reality, directly discourage most entry users, if you say you can just search the search engine to download? Sorry, viruses and trojans will follow, and many people's crypto assets have been stolen in this way.
Whenever a newcomer asks about installing a wallet, Google Authenticator, and other operations, it is responsible to say that the complexity cannot be solved in a few words, so there is an urgent need for a smart phone that is friendly to crypto apps, has a built-in secure encryption chip management for wallets, has an app store that can be directly downloaded without interception, and has prominent reminders for market software and news, providing a smart phone that is optimized for Web3 users to enter the market smoothly.
3) A more secure environment for running and interacting with Web3 apps and DApps
Because it involves operations such as receiving and sending crypto assets and interacting on the chain, a necessary condition for Web3 dedicated devices is "security". Compared to general phones, dedicated devices can provide a more secure environment for running and interacting with Web3 apps and DApps.
Simply put, the daily use of smartphones will definitely involve downloading a large number of apps provided by various third-party manufacturers and browsing various websites. These apps are constantly requesting various permissions from the operating system, including uploading files, accessing clipboard information, taking screenshots, viewing albums, and more. Overall, the system operating environment of general devices is relatively complex, and there are concerns when it comes to asset interaction in Web3 applications.
Dedicated devices can bypass and optimize these security issues. Taking CoralPhone as an example, from the bottom-level optimization of the system, it not only provides a clean running and interaction environment for encrypted apps and DApps, but also customizes built-in system-level security rules and strategies to isolate risks from daily use, and improves the specialized call restrictions of sensitive permissions. As mentioned earlier, the built-in app store can also categorize and have an experienced team responsible for auditing the security of Web3 apps on the platform.
Of course, as a Web3 dedicated hardware, its own security is also a focus of attention. Can CoralPhone ensure the security of its own software and hardware?
CoralPhone is as transparent in hardware as general phone accessories, with built-in secure encryption chip management for sensitive operations, and most of the software can be open source, which is conducive to external auditing and supervision. CoralAPP itself can also engage professional security teams for security audits. As a connected Web3 entry hardware, it can be used to store a small amount of change in a hot wallet for DApp interaction and activity participation, or only for wallet viewing, and combined with offline device signature operations to further enhance its security.
4) Unleashing the Potential of DePIN and AI
According to the official roadmap of CoralApp, the high-end models of CoralPhone are not only pursuing high configurations in the mobile phone industry, but also planning to create smart devices with DePIN services and AI capabilities.
Specifically, the DePIN track currently has a variety of IoT devices, with high design and equipment costs, and many Web3+AI projects have special requirements for AI chips. CoralPhone can take advantage of its hardware and OS system customization capabilities to optimize design for the DePIN direction, and can also serve as an IoT device, while introducing the latest AI smart chips to provide corresponding services.
Overall, CoralPhone meets the Web3 entry while advancing towards the future DePIN and AI tracks, using the latest technology hardware to explore and innovate, encompassing the dividends of both tracks and unleashing the potential of DePIN and AI.
03 What are the differences between CoralPhone and Solana Saga?
A comparison between the two popular Web3 mobile phone projects, CoralPhone and Solana Saga, reveals that compared to Saga, CoralPhone brings multi-chain benefits, as well as more optimizations in system, applications, and community support. It offers a diverse range of models, catering to the needs of Web3 users in different countries and regions globally, making it more user-friendly for entry-level users and more conducive to market expansion.
04 Can CoralPhone provide value for money?
Based on official information, CoralApp's Web3 dedicated device is quite sincere. It is not just a product that hasn't started yet, holding a PPT, but has already sorted out the upstream and downstream before going online, conducting a lot of research and development, production, and testing, with a considerable initial investment. However, regardless, users always want to see if CoralPhone can provide value for money. After our analysis, we believe the main points to consider are as follows:
1) Special benefits and dividends
As mentioned earlier, in addition to the ecosystem tokens of CoralApp's community, it has established partnerships with many well-known public chain ecosystem projects such as BNB Chain, Solana, Scroll, Swam, Tap, and more partnerships will continue to expand in the future. The most important aspect is the benefits from high-quality top projects. As a DePIN and AI smart device, it will also be able to mine high-quality projects in the DePIN and AI tracks in the future. It can be described as an aggregator of Web3 hardware dividends that is ready to use across multiple chains.
2) Hardware cost-effectiveness
Currently, from a hardware perspective, it has a configuration that matches mid-range phones. According to the relevant person in charge of CoralApp, the production cost of the Coral Neural 3 (mid-range) model of CoralPhone is around $300, and with the substantial investment in software and hardware design and development, the early bird price of $499/original price of $699 is quite reasonable.
3) Support from top institutional platform ecosystems
For projects incubated and invested by Binance Labs, it is not just about funding, but the greater value lies in being able to receive support from various resources within the Binance ecosystem, including publicity, traffic, and cooperation with high-quality projects.
4) Potential of the BNBChain ecosystem in a low period
It is well known that the BNBChain ecosystem has not performed particularly well in this bull market, and the ecosystem has been somewhat lackluster. The BNBChain ecosystem urgently needs high-quality projects in innovative tracks like CoralAPP to inject new vitality and drive the BNBChain ecosystem out of its low point. At the same time, being the Web3 mobile phone project that almost exclusively supports the BNBChain ecosystem can also gain unique dividends as the BNBChain ecosystem returns to an upward trend.
5) Future development prospects
From the current layout of CoralAPP, it is clear that it wants to focus on doing well in Web3 phone software and hardware, focusing on the basic product suite (including Coral Phone, Coral OS, Coral Mobile Stack, and CoralApp), making Web3 hardware devices a new traffic entry point in global markets, opening up third-party project cooperation, and creating a Web3 multi-chain interconnected ecosystem platform based on hardware and underlying OS support.
In essence, it is similar to the Xiaomi ecosystem in the mobile internet, where Xiaomi focuses on the development of hardware, OS UI, and app store, and the operation of the ecosystem platform, making the phone a part of the traffic entry point in the mobile internet, and then opening up various capabilities and interfaces for third-party project cooperation, ultimately becoming one of the major forces in the mobile internet ecosystem.
05 Conclusion
The upcoming CoralPhone is undoubtedly a strong contender in the Web3 mobile phone track, not only bringing new dividend opportunities for users, but also providing a new low-threshold entry point for the Web3 industry. By innovating and exploring the potential of DePIN and AI, it has taken Web3 devices onto a new development path, worthy of close attention from the crypto community. In the future, whether CoralAPP can continue to bring more dividends remains to be tested by the market and revealed over time. We look forward to it.
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