On Monday, the team behind Solana Web3 wallet platform Phantom announced it had raised $109 million in a Series B fundraising. The crypto company is now a unicorn with a valuation of $1.2 billion. Solana Web3 Wallet Phantom Raises $109 Million The Phantom According to the company's recent blog post, the wallet team has raised $109 million in a Series B funding round. In addition, Phantom also launched the iOS version of Solana wallet for Apple smartphone users. According to the announcement, the $109 Series B was led by Paradigm. In addition, Jump Capital, Solana Ventures, Variant...
On Monday, the team behind Solana Web3 wallet platform Phantom announced it had raised $109 million in a Series B fundraising. The crypto company is now a unicorn with a valuation of $1.2 billion.
The phantom According to the company's recent blog post, the Wallet team has raised $109 million in a Series B funding round. In addition, Phantom also launched the iOS version of Solana wallet for Apple smartphone users. According to the announcement, the $109 Series B was led by Paradigm. Additionally, Jump Capital, Solana Ventures, Variant, and Andreessen Horowitz (a16z) participated in Phantom's recent fundraising campaign.
The funds will be used for onboarding more users and developers into Web3 and also for “innovations in the user experience of multi-chain wallets.” In addition, the company plans to scale the team and specifically hire specialists for community support and product development. The Series B fundraising follows the Series A the company announced in mid-July, when the Phantom team raised $9 million and a16z led that particular round.
Phantom noted during the announcement that the wallet has gained over 2 million monthly active users in six months. “In total, our users have staked over 112.4 million SOL ($10.4 billion), swapped $1.37 billion worth of tokens and completed 55.2 million NFT, Defi and app transactions,” explains Phantom’s Series B blog post.
“Our first step toward this vision is to launch Phantom on all mobile platforms, starting with the release of our iOS app to the public today,” the team wrote on Monday. “With Android on the horizon, we couldn’t be more excited about the potential of mobile devices to support a whole new set of users and use cases for Phantom.”
Of 12,280 existing crypto assets Solana (SOL) has managed to occupy the seventh largest position in terms of market capitalization. Year-to-date, SOL has gained 2,210%, but over the past month its value has lost 42.5% against the US dollar. Still, SOL’s market valuation of $30.8 billion represents 1.68% of the total crypto economy of $1.83 trillion. Solana has that sixth largest TVL in defi today and the second largest number in NFT sales.
What do you think of Phantom's $109 million Series B fundraise? Let us know your thoughts on this topic in the comments section below.
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