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One For All: Solana-based Phantom Wallet to Support Ethereum and Polygon With a great success track catering to Solana user base, the startup is all set to get other cryptocurreny users on board

By Paromita Gupta

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Phantom, a 2021 launched cryptocurrency and NFT wallet, announced its decision to support rival blockchains Ethereum and Polygon in the coming three months to its desktop, iOS, and android applications.

"We are excited to bring the Phantom experience to the wider Web3 community," said Brandon Millman, CEO and co-founder of Phantom, in a statement.

A leader in the Solana space, Phantom was co-founded by Brandon Millman, Chris Kalani, and Francesco Agosti. The software developing company had hoped to challenge the Ethereum wallets but instead went on to focus on building a then-emerging Solana-focused wallet, which has certainly paid off. Solana, with a market capitalization of $14,504,821,341 as of June 2022, has its largest user base supported by the Phantom wallet.

With this announcement, Phantom, a self-custody wallet, aims at competing and eventually, overpowering Ethereum wallets such as Metamask, an open-source based wallet. The Ethereum ecosystem is reported to be the 2nd largest by market capitalization as of June 2022.

Meanwhile, the company shared that it will be closely working with Polygon to develop its supporting wallet. The blockchain was reported to have a market capitalization of $4,804,705,995 as of June 2022.

The move comes as the company aims at enabling customers to see all their holdings and NFTs in one wallet. This furthermore aims at a seamless connection to dapps on SOL/ETH/MATIC. In a quest to provide class protection, they will be providing automated blocklists for NFT spam and phishing websites. Lastly, Phantom hopes of being the best host for NFTs in the form of new discovery, display, rich notifications and transaction details.

The company is seeing a huge potential in the growth of NFT, gaming, and dapp adoption, and wants to play an integral part of its journey.

Paromita Gupta

Features Writer with Entrepreneur India

Covering news and trends in AI and Metaverse segments. An avid book reader running her personal blog on the side. You may reach me at paromita@entrepreneurindia.com. 
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