The Metavertu II features Web3 tech including a decentralized identity system and secure element chip with ZK smarts—wrapped in alligator skin.
Stephen Graves•4 min read
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If there’s a bear market in crypto, no one told luxury phone manufacturer Vertu. Its Metavertu II Web3 smartphone, launched at a glitzy event last week in Hong Kong, starts at a mere $5,100 for the base model. If you prefer an alligator skin finish over carbon fiber, you’ll have to shell out a whopping $9,300.
The new smartphone caters to a new class of wealthy individuals, the crypto-rich, with an array of Web3-friendly features like a built-in crypto wallet and a dedicated, decentralized operating system for running dapps, in addition to the standard Android OS.
“We aspire to cater to discerning, unconventional, deeply thoughtful, and non-conformist users in the high-net-worth segment,” Vertu CEO Gary Chan told Decrypt in an email interview. Millionaire crypto holders, it seems, were an obvious next step for the company. “The emergence of the Web3 industry has introduced many nouveaux riches,” Chan said, noting that luxury brands like Gucci and Tiffany are making inroads on the Web3 industry.
“Despite engaging in a novel industry, fundamentally, they share similarities with the demographic we originally served,” Chan added, noting that the crypto-rich “aspire to showcase their uniquely distinctive personalities to the world” by showing off NFT PFPs like Bored Apes and CryptoPunks.
“Decentralization is a journey,” Chan repeatedly argued, and Web3’s user experience is “not yet optimal,” with “limited use cases,” and high barriers to entry. “Applications frequently used in Web2 cannot seamlessly transition into Web3,” he added, necessitating an in-between stage—one he dubbed “Web2.5,” explaining the Metavertu II’s use of separate Web2 and Web3 operating systems.
He admitted that “Some of our product features may currently be ahead of user adoption, offering functionalities that users might not immediately utilize,” but argued that the firm’s strategy “aligns with future trends.” Vertu, he said, has focused on exploring “the essence of Web3,” with the Metavertu II revolving around “digital sovereignty, with decentralization serving as a means to achieve it.”
Edited by Ryan Ozawa.
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