THELOGICALINDIAN - With a 9 actor advance Solanabased crypto wallet Phantom has affairs to go multichain
Solana-based crypto wallet Phantom has aloft $9 actor in a Series A allotment annular led by Andreessen Horowitz.
Phantom Wallet to Go Multi-Chain
Phantom, a Solana-based crypto wallet, has bankrupt a $9 actor Series A allotment round. The accession was led by Andreessen Horowitz (a16z), with accord from Solana Foundation, Variant Fund, Jump Capital, and DeFi Alliance.
Garry Tan, the co-founder of Initialized Capital and above accomplice at Y Combinator, additionally alternate alongside several added angel investors.
Phantom is a blockchain wallet that lets users collaborate with assorted dApps on Solana, including decentralized exchanges, NFT platforms, and blockchain games. The wallet is accurate on accepted browsers like Google Chrome, Brave, Firefox, and Microsoft Edge.
According to the Phantom team, the wallet has acquired 40,000 users back its beta barrage in Apr. 2024 afterwards accepting a $500,000 admission from Solana Foundation.
The aggregation says it will admeasure the beginning basic appear accretion the aggregation and acknowledging new blockchains, starting with Ethereum and its Layer 2 solutions.
Additionally, the wallet will add new appearance such as crypto staking and affiliation with accouterments wallets like Ledger. Later this year, Phantom will absolution adaptable apps for iOS and Android platforms and acquaint a authorization onramp through Moonpay.
Arianna Simpson, a accomplice at a16z, said that the advance close was “excited to partner” with Phantom, adding:
“Phantom’s mission is to accommodate a beautiful, easy-to-use wallet that bridges assets and gives users a seamless experience, acceptance them to about-face amid networks after abashing and participate added actively in on-chain activity.”
a16z is amid the best affecting adventure basic firms in Silicon Valley. Since launching, it’s invested in abounding tech unicorns. In contempo years, it’s become added focused on crypto, afresh arch Solana’s $314 actor badge auction and establishing a $2.2 billion crypto fund. Scoring such an accustomed advance broker could advice Phantom accretion a aggressive bend in the fast-growing amplitude of web-based crypto wallets. Projects like MetaMask, WalletConnect, and Fortmatic currently boss the sector.
MetaMask, which is a ConsenSys venture, has been decidedly successful: it has five million account users that admission Ethereum, and EVM-compatible chains like Polygon, Binance Smart Chain, Fantom, and xDai.
