Phantom Expands Data Token Capabilities with Game-Changing SimpleHash Acquisition

Jakarta, Pintu News – Phantom, a crypto wallet provider, recently announced the acquisition of SimpleHash, a non-fungible token (NFT) data platform that supports over 80 blockchains. This acquisition not only strengthens Phantom’s position in the industry but also enhances the functionality of their multi-chain wallet.

This step is expected to make it easier for users to access and manage crypto assets more efficiently.

SimpleHash Integration

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With the incorporation of SimpleHash into the Phantom ecosystem, users will gain access to accurate and comprehensive token data. Phantom CEO, Brandon Millman, emphasized that this integration will improve the ease of use of their wallet, while enriching the user experience.

SimpleHash provides a data platform that tracks real-time price movements, NFT metadata and market activity, which will now be integrated directly into Phantom.

Following the acquisition, the SimpleHash team will join Phantom, and the pre-existing service will be phased out. This marks Phantom’s third acquisition this year, demonstrating their aggressive strategy of expanding technology capabilities.

Expansion and Support from Solana

Phantom didn’t just stop at SimpleHash. In May 2024, it acquired Bitski, an integrated wallet provider that has worked with global brands such as Adidas, Major League Soccer, and WWE.

The acquisition along with the purchase of web3 security and fraud protection platform Blowfish this November demonstrates Phantom’s commitment to strengthening the security and ease of use of their wallets.

Raj Gokal, co-founder of Solana (SOL), expressed his support for Phantom’s move. According to him, this will make it easier for people to join dApps and explore the Solana ecosystem.

“This move will make it easier for people to join dApps and navigate the Solana ecosystem. Phantom is doing a great job of simplifying things and improving the overall user experience, and we’re excited to support their efforts.”

Phantom continues to innovate to simplify processes and improve the overall user experience.

Read also: Vitalik Buterin Pushes for Poseidon Hash Function in Ethereum—What Are the Benefits?

Funding and Valuation

Phantom has shown significant growth since its launch in 2021. Recently, it raised $150 million in a Series C funding round, led by Sequoia Capital and Paradigm.

Their valuation now stands at $3 billion. The funds will be used to expand their mission of building a leading financial platform. Existing investors such as a16z crypto and Variant also backed this funding round.

With this financial and strategic support, Phantom plans to continue expanding their features and services, solidifying their position as the most popular crypto wallet in the Solana ecosystem.

Overall, the acquisition of SimpleHash by Phantom marks an important step in the evolution of crypto wallets. With the integration of new technologies and teams, Phantom is poised to provide better and more secure solutions for crypto users.

Going forward, Phantom has the potential to be a leader in innovation and security in the crypto industry.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coinspeaker. Phantom Acquires SimpleHash to Strengthen Token Data Capabilities. Accessed on February 28, 2025
• Crypto News. Phantom Acquires NFT Data Platform SimpleHash to Enhance Wallet Features. Accessed on February 28, 2025