Binance-backed CoralApp launches new Web3 gadget offering passive income opportunities

Coral is sure to make a splash in the smartphone market, capitalizing on its launch in a market of over 6.84 billion active devices, and the number of active devices is projected to exceed 7.1 billion by 2024. The recently announced latest Coral smartphone integrates artificial intelligence with web3 features, aiming to democratize decentralized finance (DeFi), GameFi and SocialFi.

“In addition to offering features found in traditional smartphones, the Coral phone is designed to work seamlessly with decentralized applications (dApps) and decentralized physical infrastructure networks (DePINs).”

Users can directly use DeFi services, manage investments, trade cryptocurrencies, and earn interest on digital assets, all without additional devices or apps. The phone also supports multi-chain capabilities, allowing interaction on different blockchain networks.

Empowering users with decentralized features

Coral Phone also makes it easy to participate in DePIN services, allowing users to generate passive income that can be switched as they wish.

“In addition to decentralized finance, Coral Phone includes decentralized social networking and web3 gaming, enabling users to control their data and discover income-generating opportunities.”

“CoralApp’s goal is to create a digital lifestyle that is not only fulfilling, but also engaging and inspiring” company highlighted on medium blog.

All user assets and private keys are protected in Coral Vault, strengthened by AES encryption, Secure Element (SE), and Trusted Execution Environment (TEE).

“Advanced biometric authentication system ensures security through fingerprint scanning and facial recognition.”

The device boasts a 6.55-inch AMOLED display, a solid 4800mAh battery, and a Qualcomm Snapdragon 8 Gen 3 chipset for smooth performance. Pre-registration for the Coral Phone is now open, and it’s priced at $1,500 for the first 2,000 units, with shipping expected within six months.

Coral Phone is entering the competitive arena, challenging products such as Solana Labs’ Saga smartphone and JamboPhone from smartphone maker Web3 Jambo in partnership with the Aptos Foundation. Solana’s Saga phone, despite initial demand, was criticized by YouTuber Marques Brownlee as a “failure of 2023.”