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CoralApp, an AI-focussed project backed by Binance, is gearing up to enter the hypercompetitive smartphone market in the coming days. The company has conceptualised a smartphone, dubbed the Coral Phone, packed with Web3 and AI capabilities. While the device will support traditional smartphone functions and apps, it will also be able to work seamlessly with decentralised applications (dApps), decentralised finance (DeFi), and decentralised physical infrastructure networks (DePINs).
Details on Coral Phone
At present, there are an estimated 6.84 billion smartphones globally and the number is soon projected to reach 7.1 billion. Through its Web3-centric smartphone, CoralApp aims to push technologies like DeFi, GameFi, and SocialFi to the masses.
The Coral Phone has been designed to provide direct access to decentralised apps, allow users to experience native on-chain games, and let users save their private wallet keys into the in-built Coral Vault, CoralApp said on the official website.
“Coral Phone offers a comprehensive suite of features enabling users to explore, interact, and thrive in the decentralized digital landscape. From seamless multi-chain cryptocurrency management to native on-chain gaming, Coral Phone isn’t just a smartphone — it’s your portal to a new decentralised digital era,” the website explained.
The company has teamed up with Acurast, a ‘decentralised serverless cloud,’ to combine Web3 and cloud computing technologies for the Coral Phone.
On the hardware front, the smartphone features a 6.55-inch AMOLED display and a 4800mAh battery. The dual-SIM phone will be powered by Qualcomm’s Snapdragon 8 Gen 3 chipset and will work on customised Coral OS 1.0 based on Android 14.
“The first 2,000 early bird devices will be priced at 1500 USDT or $1,500 (roughly Rs. 1.25 lakh). Limited availability and the price of subsequent sales may be subject to change,” the website added.
The interfacing of this phone will be decentralised, giving more independence to the users over their apps and content privacy. This AI layering on the device will enable it to offer an ‘intelligent’ and secure overall performance, said a report by ZYCrypto.
For now, CoralApp is letting users pre-register for these devices. While the exact date of the release of this device remains undisclosed, the website does say that the early birds will receive their devices by up to six months after having registered.
Binance had incubated CoralApp as part of the Season 4 of its global Incubation Program in 2022.
Web3 smartphones coming to mainstream markets
The Coral Phone is not the first smartphone that combines the already matured smartphone technology with the emerging Web3 technology.
In 2022, Solana Labs had unveiled its Solana Saga smartphone, packed with Web3 features like an inbuilt Seed Vault to safely store all the private keys linked to the device, among other Web3 features.
This year in May, Jambo, a Web3-enabled smartphone brand gave details about the JamboPhone, which is priced at $99 (roughly Rs. 8,230) and is laden with support for Web3 functionalities.