Sirin Labs, after focusing on developing a blockchain based smartphone for years, they have now just opened their first retail store in London, on January 15, 2019.
Targeted for cryptocurrency enthusiasts, the Israeli startup has shown their passion for the blockchain focused smartphone since 2016. At that time they had just launched Solarin, a $14,000 smartphone meant for crypto heavyweights. The ambitious idea of offering a $14k blockchain focused smartphone did not take off like they had hoped. After returning to the drawing board and developing a new phone from scratch, they returned to the market in March 2017 with the Finney phone. The Finney phone raised over $150 million in a initial coin offering, making it a more successful approach. Those interested in the Finney smartphone were able to preorder it late last year for a more realistic, $999.
The Finney phone also targeted those in the cryptocurrency space, and offered an array of features to make the average cryptocurrency enthusiasts life easier. Some of the features the phone offered included, a cold crypto storage wallet, its own crypto payment service, as well as the ability to use decentralized apps, via Sirin’s operating system. The phone was named after an early Bitcoin adopter, Hal Finney.
Sirin Labs optimized their brick and mortar store, in London, around their new Finney smartphone. The location of the store was strategically picked by Sirin Labs, as they hope cryptocurrency enthusiasts will choose to make this location a destination and gathering spot. A second store is expected to open in Tokyo, however specific dates and locations have not been confirmed yet.
Kenes Rakishev further explains why Sirin Labs strategically chose London as their first brick and mortar location:
“In 2018, London’s tech sector attracted significantly more investment than other European centers, raising more than £1.8 billion. It is the ideal first location for the Finney, the first mass-market blockchain phone in the world, to go on sale.”