Layer-1 blockchain network Aptos is following in the footsteps of rival network Solana by introducing a crypto and Web3 smartphone. The company has partnered with Jambo Technology to launch the device in emerging markets.
On February 15, Aptos announced its partnership with the little-known African tech company with a mission “to improve access to Web3 in emerging markets.”
Web3 Access in Africa, LATAM
It added that the introduction of the JamboPhone was at the heart of this partnership. The device is a,
“Affordably priced smartphone designed to unlock the digital economy for users.”
It is sold in Africa, Southeast Asia and Latin America for $99 and is already available in 40 countries.
The company described the JamboPhone as “a bridge to the Aptos ecosystem.” It is integrated via pre-installed applications such as the Petra Aptos wallet and the Jambo app.
The Jambo app offers a Web3 experience with decentralized finance, gaming and a range of learning tools. Co-founder and CEO of Aptos Labs Mo Shaikh, formerly of Meta, said:
“I am inspired by JamboTechnology and the Aptos Foundation because it is at the core of what makes Web3 beautiful: opening the world to financial access, inclusion and empowerment.”
Read more: An Ultimate Guide to Aptos Cryptocurrency (APT) and its Network
Emerging markets such as Africa and Latin America are adopting crypto faster than their developed counterparts. However, much of this is largely due to a large unbanked population and economic pressures such as high inflation.
Rival Supply and APT Price Response
Rival network Solana also has a smartphone offering, but it is certainly not aimed at emerging markets, with a price tag of $450.
Nevertheless, BeInCrypto reported that pre-orders of the latest Solana device, which would be released in 2025, were high after the company lowered the price of its latest model.
APT prices rose a marginal 2.4% on the day, reaching $10.22 at the time of writing. The token is now up 15% in the past week as the crypto markets recover.
APT/USD 1 month. Source: BeInCrypto
Moreover, the venture capital-backed blockchain network has not been without teething problems and glitches.
Aptos has also aggressively flooded the market with token unlocks, keeping prices low.
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