Cryptocurrency wallet Phantom has announced a $109 million “series B” (when the company achieves certain goals and is no longer considered a startup) funding round led by Paradigm, an investment company focused on crypto-related companies and Web 3.
The funding round brought the project’s valuation to a staggering $1.2 billion.
“It’s amazing to see the expansive growth that has taken place in less than a year since our beta launch,” said Brandon Millman, CEO of Phantom.
The Phantom Wallet gives Solana blockchain traders the ability to interact with Decentralized Finance (or DeFi) protocols and non-fungible tokens (or NFTs).
Phantom is to Solana what MetaMask is to Ethereum. Users can borrow, earn interest on tokens and trade with other users.
Phantom takes advantage of its funding and new functionality
In addition to the funding news, the wallet provider also announced, this Monday (31), the public availability of its app for iOS devices.
Through the wallet’s iOS app, users can store, send and receive tokens and NFTs, in addition to staking the SOL token.
“With the launch of our mobile application, we wanted to create this cross-platform entry point for ordinary customers to interact with blockchain applications,” added Millman.
Fred Ehrsam, co-founder and managing partner of Paradigm, is also very optimistic.
He claims that crypto wallets are “on the way to becoming the container for everything in your digital life” and believes that wallets like Phantom are needed to bring “billions more people to crypto.”
Earlier, Chris Kalani, director of products and Phantom co-founder, stated that the wallet has recently reached 1.2 million weekly users.
Last week, leaked images show that the OpenSea NFT marketplace may have added support for Solana and Phantom NFTs, despite the marketplace being an Ethereum-focused ecosystem.
“Since Phantom’s launch in early 2021, the team has consistently raised the bar for wallet usability. Phantom is the most used wallet on Solana and the team is one of the best at leveraging Solana’s unparalleled performance to present an authentic UX [experiência de usuário], disse Raj Gokal, cofundador do Solana.
*Translated and edited by Daniela Pereira do Nascimento with permission from Decrypt.co.