Phantom Wallet Adds Support for Bitcoin and Ordinals and BRC-20 Tokens
Phantom wallet has introduced a new version that now includes support for Bitcoin, as well as Ordinals and BRC-20 tokens. The integration is currently in beta mode and is available to select trusted apps like Magic Eden and UniSat. To access the new features, users will need to manually activate BTC support in their wallets.
“And regardless if you’re a Solana or Ethereum maxi, or a multichain enjoyooor, there’s no denying that we wouldn’t be here without it.”
– The Phantom team
Multi-Chain Functionality and Address Type Selection
Originally launched in 2021 with a focus on Solana, Phantom has grown to have over two million users. The wallet emphasizes multi-chain functionality, allowing users to convert both coins and non-fungible tokens across different blockchain networks. Additionally, users can choose between Taproot and Segwit forks for their preferred address type.
Expanding into the Bitcoin Network
As a multi-chain self-custodial wallet, Phantom has expanded its support to include the Ethereum and Polygon ecosystems. Now, the wallet aims to delve further into the Bitcoin network by adding more features in the future. These updates may include Ledger wallet support and customizable gas fees, although no specific timeframe has been provided by the developers.
Funding Round and Investors
In January 2022, Phantom successfully raised $109 million in a series B funding round led by Paradigm. This brought the company’s valuation to $1.2 billion. Other notable investors in the round include Jump Capital, Andreessen Horowitz (a16z), Solana, and Variant.
Hot Take: Phantom Wallet Expands its Reach to Bitcoin and Beyond
Phantom wallet’s integration of Bitcoin support marks a significant milestone in its journey towards becoming a comprehensive multi-chain wallet. By embracing the world’s largest cryptocurrency, the wallet aims to attract a wider range of users and further establish itself as a versatile platform for managing digital assets. With its successful funding round and continuous development efforts, Phantom is poised to make waves in the crypto space. Keep an eye out for future updates from this innovative wallet provider.
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