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Web3 smartphones are the new technology that's hit the smartphone industry like a storm. It combines the best of both worlds, allowing users to access the traditional internet while also giving them access to blockchain-based technology and applications. The combination can create new opportunities of exploring the Web3-based technologies through an immersive smartphone experience and stay connected through the metaverse.
For a casual user looking to explore the potential applications of blockchain technology and dApps, or a hardcore enthusiast looking to get involved in the crypto space, these new smartphone options are a great way to stay up-to-date with the latest developments. Making metaverse accessible in the palms of the user’s hands, TechInsight360 expects the launch of smartphones will have a significant impact in fostering the growth in the metaverse space over the next five years.
The Web3 smartphones will empower users to join DeFi protocols and take advantage of decentralized finance tools such as swaps, lending platforms, and more. They can also trade in non-fungible tokens (NFTs) or invest in crypto projects with the assurance that their data is safe from central authorities or third parties.
Companies around the world are, hence, launching smartphones that leverage Web3 technology and its applications, such as crypto apps and decentralized apps that include NFTs. Samsung and HTC were one of the first smartphone manufacturing companies to successfully integrate Web3 within their smartphone hardware. More and more companies are exploring the Web3 space for smartphone launch.
Not only well-known smartphone makers, but also two industry heavyweights in the blockchain space, Solana and Polygon, have also ventured into the web3 smartphone space.
The distinguished feature of the smartphone is the chance to obtain a unique Saga genesis token NFT that is exclusively linked to their device. Saga's rewards programme, which provides members with a variety of intriguing incentives and advantages, is built around this exclusive NFT. Another fascinating and cutting-edge feature of the phone is the ability to instantly turn photographs taken with its camera into NFTs.
The major difference between the Web3 exploration patterns of the smartphone manufacturers and blockchain companies is that Samsung, HTC and Huawei are still working around the hardware services whereas Polygon and Solana are growing their business around the web3 platform as a whole. As centralized corporations like Samsung and HTC are attempting to gradually decentralize every step, decentralized behemoths like Solana and Polygon choose for partial centralization to expand their consumer base.
The emergence of Web3 powered smartphones marks a major accomplishment in the blockchain industry. As more companies explore the exciting opportunities of web3 applications and NFTs, the possibilities for smartphones is becoming increasingly impressive. In addition to making web3 technology becoming simpler and more user-friendly, particularly for mobile users, this will be a great aid for developers as they construct decentralized apps and services that are compatible with smartphones. As blockchain technology is steadily gaining traction, the Web3 smartphone is expected to be the most sought-after device by tech enthusiasts who can explore the potential of mobile web3. Undoubtedly, this will prove to be a breakthrough in the smartphone industry.
TechInsight360’s reports combine detailed view on market opportunity, best practices, emerging business models, and market innovation to help clients identify unique opportunities.
