Why are people paying 10 times the price of Pixel 7a?

In a surprising display of enthusiasm for blockchain technology and cryptocurrencies, the pre-sale of the first Ethereum (ETH)-based smartphones sold out in a record 24 hours.

The innovative device, known as “Ethereum Phone,” is based on the popular Google Pixel 7a and runs on a unique open-source operating system called ethOS, an abbreviation of “Ethereum operating system” which also means “character” in Greek.

As explained BeinCryptothe hallmark of these devices in the competitive Web3 smartphone market is their built-in Ethereum thin client, which allows the ethOS operating system to validate blocks independently, making the Ethereum Phone a “light node” on the network Ethereum.

Additionally, this mobile device comes with built-in tools to manage payments, send and receive messages, and offers seamless integration with Ethereum Name Services (ENS), making transactions simpler for users.

EVM compatible

Additionally, this smartphone supports Ethereum Virtual Machines (EVM) and Layer 2 Scalability Networks, making it an attractive option for those interested in blockchain technology and cryptocurrencies.

However, what makes acquiring these Ethereum smartphones even more exclusive is that they were only available through the purchase of a non-fungible ethOS token (NFT). Interested buyers had to purchase and, in some cases, burn or destroy the NFT to secure their reservation of this coveted phone.

Such is the enthusiasm for Ethereum smartphones that some ethOS NFTs are being sold on the largest NFT marketplace, OpenSea, for a staggering 3 ETH, which equates to almost $5,000. Compared to the price of a standard Google Pixel 7a, which sells for $499 in the US, this price difference is significant, exceeding initial expectations.