Thomas Daniels
SimpleHash, a non-fungible token (NFT) data platform that supports more than 80 blockchains, has been acquired by Phantom, a well-known cryptocurrency wallet service. Phantom said that the acquisition is in line with its larger goal of improving accessibility in the cryptocurrency ecosystem, even though the deal’s financial parameters are still unknown.
Phantom hopes to give consumers real-time NFT pricing tracking, metadata analysis, and marketplace activity monitoring by incorporating SimpleHash’s technology.
Phantom CEO Brandon Millman stated, “By implementing SimpleHash, we’re guaranteeing that Phantom users have the most precise and thorough token data.”
Improving the Usability of Multiple Chains
The SimpleHash team will join with Phantom after the acquisition, and the separate platform will eventually be taken away. In less than a year, Phantom has made three significant acquisitions, solidifying its position as the top multi-chain wallet in the Solana ecosystem.
Bitski, an embedded wallet provider with partnerships with major league soccer, WWE, Adidas, and other international businesses, was purchased by Phantom in May 2024. Phantom also purchased the Web3 security and fraud prevention platform Blowfish in November.
Phantom’s dedication to streamlining the onboarding process for decentralized applications (dApps) and improving the Web3 user experience is shown in these key acquisitions.
Raj Gokal, a co-founder of Solana, commended Phantom’s most recent action, saying:
“This move is going to make it so much easier for people to onboard to dApps and navigate the Solana ecosystem. Phantom is doing great work to simplify things and improve the overall user experience, and we couldn’t be happier to support their efforts.”
Phantom’s Development and Prospects
Phantom has become the most popular cryptocurrency wallet in the Solana ecosystem since its debut in 2021. Recently, the business secured a $3 billion value after raising $150 million in a Series C fundraising round headed by Sequoia Capital and Paradigm. Other prominent investors are Variant and a16z crypto.
Phantom’s integration with SimpleHash strengthens its position as a major infrastructure supplier in the NFT and Web3 arena and advances its expansion strategy.
