Are you 12 or something? Also, you just said yourself that its not a privilege. A privilege is being able to do something normal peasants cant. In this case, the normal peasants have more freedom than you

I get that you see that phone as a 'status symbol' because it's expensive and all of the marketing, and how other kids look at you etc etc. The thing is if you didn't buy it and can't afford it then it's a false status.
Also the whole 'status symbol' etc thing is just a money trap designed to keep everyone poor/in debt, but that's something you'll -hopefully- realise as you age.

And that isn't just about that phone, it'd be the same if you won a Ferrari to drive, or a castle to live in. If you can't afford the things to begin with then you can't afford the upkeep of them. When you've been lucky then the clever thing is to sell it on and do something worthwhile with the money.
In a few years time the phone will be basically worthless. Hell, in a few months time it'll be worth a lot less. And you'll be looking back and thinking "Shit, I should've sold it when I had the chance to make some proper money on it instead of trying to be flashy in front of my mates"
Another thing to remember is that in a few years time few -if any at all- of these schoolmates will remember you and your phone. They'll be off living their own lives. And there's the chance that if they do remember it'll be more like "Hey, remember that kid who won the iPhone and would ponce around school with it pretending to be rich? What was their name again?"

I know this advice is going to fall on deaf ears but the smart move here is to sell it, buy another phone, and do something special with the money.

It always baffles me how people believe that having an iPhone is somehow a status symbol. Apple really got their marketing right to get people to believe that somehow you're better than others if you have an iPhone.

Hey - I don't usually do this, but I grew up poor and I get it. DM me, I'll buy you the game.

If you need validation from others from what you have instead of your personality, you needs to rethink your life.