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

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Author: Stephen Graves

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