Solana’s Phantom Wallet raises $109 million, launches mobile version

Solana’s Phantom Wallet raises $109 million, launches mobile version

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2022-01-31 09:40:26

The latest round of funding raised Phantom’s valuation to $1.2 billion, making it the latest “unicorn” startup in the crypto industry.

Solana’s Phantom Wallet raises $109 million, launches mobile version

Phantom, a cryptocurrency wallet application similar to MetaMask but dedicated to the Solana blockchain, announced on the evening of January 31 that it had successfully raised $109 million at a valuation of up to $1.2 billion.

This Series B investment round was organized by Paradigm, a well-known fund in the crypto market, with the participation of many other names such as Andreessen Horowitz (a16z), Variant Fund, Jump Capital, DeFi Alliance and Solana Ventures.

As confirmed by Phantom CEO Brandon Millman, the money raised will be used by Phantom to expand to many other blockchains, including Ethereum, in 2022.

Information about Phantom fundraising also comes with another important statement, that is Phantom has officially launched a mobile wallet application, besides the traditional version is a browser extension.

Users can now download the Phantom wallet from the App Store, while the Android version will be rolling out soon this year.

The Phantom Wallet allows users to store assets on the Solana network, from coins and tokens to NFT, and to interact with the blockchain’s DeFi, gaming, and Web3 applications. The project has ambitions to achieve the same status as what MetaMask has in the Ethereum ecosystem.

Last week, it was reported that OpenSea – the largest NFT platform today with January trading volume surpassing the $3.5 billion mark – will soon expand to other blockchains besides Ethereum, starting with with Solana. Leaked images show that OpenSea will allow Phantom wallet integration for NFT users on Solana, promising to open up more uses for the wallet.

In January 2022, many other giants have also successfully conducted huge fundraising rounds, typically OpenSea ($300 million), Serum ($75 million), Seba Bank ($119 million), NEAR Protocol (US$119 million), NEAR Protocol (US$75 million), and Seba Bank (US$119 million). $150 million), Animoca Brands ($359 million), Autograph ($170 million) FTX.US ($400 million) and FTX ($400 million).

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