Phantom, a Solana-based platform, is the largest wallet on the Solana network, focusing on Solana-based coins. While announcing its upcoming expansion to Polygon and Ethereum blockchains, Phantom tweeted, “…Excited to announce our added support for @0xPolygon and @ethereum.”
Initially created in 2021, Phantom offers mainly Solana-based services. The wallet claimed to have about 2 million customers one year after its launch.
The company’s Twitter profile also shows it plans to go multichain, beginning with Ethereum. Also, Phantom noted in its tweet that its primary goal is to provide seamless services for Web3 users.
The wallet provider’s partnership with Polygon will provide users with an excellent wallet experience for Polygon-based games, apps, and NFTs. Presently, the Phantom wallet supports Solana, Polygon, and Ethereum in one wallet.
“Just as people do not switch from one browser to another to access various websites, Phantom believes users need a wallet that offers seamless support for more blockchains,” the company tweeted.
Furthermore, Phantom stated that it would roll out the beta version of the service in the coming weeks. Following the Beta test completion, the wallet provider said it would launch its multichain wallet.
Also read:Phantom Still Launching A Token?
Meanwhile, the latest announcement comes after Phantom realized $109 million from a Series B fundraising round in January. The fundraising round headed by Paradigm had investors such as Variant, Solana, Jump Capital, and Andreessen Horowitz.
The January funding round increased the firm’s valuation to $1.2 billion. This gave the company the status of a crypto unicorn.
According to Phantom, the funds would help enhance the wallet platform’s technical capabilities. Additionally, Phantom stated then that it would use the money realized to expand its staff and user base in various blockchains.
As a result, the platform’s latest expansion to Polygon and Ethereum proves it is utilizing the funds appropriately. Earlier in 2021, the CEO and co-founder of Phantom, Brandon Milman, stated that the platform was considering creating a token for the wallet.
However, a recent statement from the CEO has shelved such plans. The CEO noted that the firm has no plans to launch a token.
According to Milman, a token offering can be very risky, considering the regulatory uncertainty surrounding it. However, he concluded that Phantom would continue to grow.
He expressed optimism that the platform would become a discovery and onboarding point for Web3 users.
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