Phantom, a popular self-custody wallet for Solana-based decentralized applications (DApps) and network-based tokens (NFTs), is increasing its support to include Ethereum and Polygon blockchains. Phantom aims to widen user access beyond only the Solana environment to all three of the ecosystems it now supports with to its entry into Ethereum and Polygon.
Brandon Millman, CEO and co-founder of Phantom, said that the move is intended to connect communities from all across web3 together by providing a self-custody platform that is secure, user-friendly, and appropriate for general adoption.
Phantom has improved the overall cohesion of web3 by introducing the notion of “one wallet for everything.” This benefits both consumers and developers. Phantom said in a tweet that users of Web3 just need one wallet to access all they want without any interruptions. This is analogous to how individuals do not switch web browsers when they visit different websites.
Phantom’s mobile apps for iOS and Android as well as its web browser all presently support the newly added Ethereum and Polygon integrations in beta form. The debut to the general public is anticipated to take place during the first quarter of 2023. Users will be able to trade, receive, and exchange tokens in its wallets, in addition to collecting NFTs across all three blockchains, as a result of this integration.
In the beginning of this year, Phantom participated in a Series B fundraising round that was headed by Paradigm and received 109 million dollars in order to extend its cross-platform capabilities beyond Solana. The most recent change of Phantom’s wallet from a mono-chain wallet to a multi-chain wallet exemplifies the company’s unwavering commitment to achieve a significant achievement in the dynamic realm of cryptocurrencies.
Milliman shared his excitement about the upcoming addition by noting, “It was always our objective to introduce Phantom to a multi-chain world.” Since it was always our idea that the world was going toward a more multi-chain environment, this development seems more like a homecoming for us than anything else.
Compiled by Coinbold