CoralApp, an AI-centric project backed by Binance, is gearing up to enter the hyper-competitive smartphone market in the coming days. The company has conceptualized a smartphone, called Coral Phone, packed with Web3 and AI capabilities. While the device will support traditional smartphone features and apps, it will also be able to work seamlessly with decentralized applications (dApps), decentralized finance (DeFi) and decentralized physical infrastructure networks (DePIN).
Details on Coral Phone
Currently, there are an estimated 6.84 billion smartphones worldwide and the number is expected to reach 7.1 billion soon. Through its Web3-centric smartphone, CoralApp aims to push technologies like DeFi, GameFi and SocialFi to the masses.
Coral Phone has been designed to provide direct access to decentralized applications, allow users to experience chain-native games, and allow users to save their private wallet keys in the built-in Coral Vault, CoralApp said on the official website.
“Coral Phone offers a comprehensive set of features that enable users to explore, interact and thrive in the decentralized digital landscape. From seamless multi-chain cryptocurrency management to on-chain native gaming, Coral Phone is not just a smartphone, rather, it is your portal to a new decentralized digital age,” the website explains.
The company has partnered with Acurast, a “decentralized serverless cloud,” to combine Web3 and cloud computing technologies for the Coral phone.
In terms of hardware, the smartphone packs 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 run on custom Coral OS 1.0 based on Android 14.
“The first 2,000 early bird devices will be priced at USDT 1,500 or $1,500 (roughly Rs. 1.25 lakh). Limited availability and price for subsequent sales may be subject to change,” the website added.
This phone's interface will be decentralized, giving users more independence over their apps and content privacy. This layer of AI on the device will allow it to deliver “smart” and secure overall performance, according to a ZYCrypto report.
For now, CoralApp allows users to pre-register for these devices. While the exact release date of this device is not revealed, the website says that early adopters will receive their devices up to six months after signing up.
Binance had incubated CoralApp as part of Season 4 of its global incubation program in 2022.
Web3 smartphones arrive in mainstream markets
The Coral Phone is not the first smartphone to combine mature technology with emerging Web3 technology.
In 2022, Solana Labs introduced its Solana Saga smartphone, packed with Web3 features such as a built-in seed vault to securely store all private keys bound to the device, among other Web3 features.
In May this year, Jambo, a Web3-enabled smartphone brand, gave details about the JamboPhone, which is priced at $99 (roughly Rs. 8,230) and is loaded with support for Web3 functionalities.
