Solana wallet Phantom recently raised $109 million in a Series B funding, which now values the company at $1.2 billion, according to reports. The exercise was spearheaded by crypto investment firm Paradigm and also included a slew of already existing investors. They include Andreessen Horowitz (a16z), Variant Fund, Jump Capital, DeFi Alliance, and Solana Ventures.
The current valuation thrusts Phantom into unicorn territory, and the crypto wallet looks to expand across multiple blockchains with the fresh proceeds. In addition, Phantom, which already allows access to the Solana ecosystem, also intends to add support for Ethereum before the end of 2022.
Furthermore, according to Phantom chief executive officer Brandon Millman, the platform also aims to launch its app for Android. Millman gave the timeline for that initiative as happening within the first six months of 2022. Meanwhile, Phantom released its iOS app today January 31st, which Millman explains is part of a broader objective to focus on mobile apps. He says the company’s decision to use this strategy as a tie-in to the Solana protocol will be immensely beneficial to new users. In Millman’s own words:
“We will accelerate the growth of the web3 ecosystem on Solana by bringing a world-class onboarding and DApp discoverability experience for users on mobile.”
Phantom initially launched as a browser extension back in July last year, but has rapidly risen to become integral to Solana. Currently, the wallet is to Solana, what MetaMask is to Ethereum.
Image Credits: Pixabay
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