crypto strategy

Phantom Wallet adopts a multi-chain strategy and now supports Ethereum and Polygon

Ghost, the greatest wallet on Solanasays it will expand to Ethereum and Polygon. It aims to become the Metamask by Solana.

With the latest deployment of Phantom, the biggest wallet on Solana, popular non-custodial wallets like MetaMask can see a competitor breathing down their necks.

Phantom is a wallet and browser extension that uses the Solana blockchain to manage cryptocurrencies and provide access to decentralized services. Phantom is a web3 noncustodial wallet and the most popular cryptocurrency wallet for the Solana blockchain.

Most new crypto users haven’t heard of it since Solana only launched its mainnet in 2020. But the Phantom Wallet reflects what the MetaMask Wallet is for the Ethereum blockchain.

In the first quarter of 2022, a Series B funding round was announced, which net the $109 million project from major venture capitalists. It came after the wallet achieved one million active users, as reported by BeInCrypto on November 7, 2021.

Phantom Extends for multi-channel support

Fast forward to said portfolio, Phantom lent support to include two rivals proof of stake blockchains. Namely, Ethereum (ETH) and Polygon, on its desktop, iOS and Android apps, will be rolling out the beta in the coming weeks. Shortly after the end of beta testing, the multi-chain wallet of Phantom will be launched.

The team highlighted this development in a November 30 tweet:

When announcing the new tool, Phantom also mentioned that its main goal is to bring cohesion to Web 3.0, including not fungible tokens (NFT). The project tweeted that its collaboration with the Polygon team will help add some cohesion to Polygon-powered NFTs, games, and apps.

According to the announcement details, the upgraded wallet will allow users to view all holdings and NFTs in one place. Ergo, focusing on its multi-channel strategy. Meanwhile, Polygon Studios CEO Ryan Wyatt also backed the release.

stand out

NFT holders can “manage lists, burn spam, stay up to date with helpful push notifications, and showcase their NFTs across all file formats and devices.” Also includes the display of NFTs in the browser extension.

One of the fundamental differences of Phantom is that it displays user tokens across all the blockchains it supports in a single view. This contrasts with MetaMask, which requires users to switch between blockchains to see their different tokens.


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