The video is about a challenge where contestants must hang their iPhones over the edge of a balcony without dropping them. The last person to drop their iPhone wins $5,000. The challenge is made more difficult with the addition of a mystery wheel that adds forfeits, such as doing squats or drinking a large amount of water. The contestants take turns spinning the wheel and completing the challenges, with the goal of being the last person to drop their iPhone and win the prize.
Here are the key facts extracted from the text:
1. The challenge is called "The Last to Drop the iPhone Wins $5,000."
2. The challenge is inspired by a Face video.
3. Two iPhones are used in the challenge, one of which is a brand new iPhone.
4. The challenge takes place in Dubai.
5. The contestants must hold their iPhones over the edge of a balcony.
6. The contestants must keep their arms straight and hold the iPhone with one finger and one thumb.
7. A mystery wheel is spun to determine the forfeits for the challenge.
8. The forfeits include tasks such as squatting, jumping, and drinking 500 milliliters of water.
9. The contestants can choose to quit the challenge and win $100 instead of the $5,000 prize.
10. The winner of the challenge gets to choose where the group goes for their $5,000 vacation.
11. The group will share the destination of their vacation on their Instagram account, @thefamilypeace.