Software program pockets and browser extension Phantom has raised $109 million in Collection B financing to proceed increasing its cross-platform capabilities past Solana.
The funding spherical was led by Paradigm, an funding agency targeted on cryptocurrency and Web3 firms. Different enterprise corporations to have supported Phantom in prior funding offers embody Andreessen Horowitz, Soar Capital and Variant Fund.
Based on Phantom, the funding will assist to reinforce the pockets’s technical capabilities, resembling higher app discovery, in addition to permitting the corporate to rent further workers.
Along with its funding spherical, Phantom additionally introduced Monday that its cell app is now out there for iOS gadgets.
Phantom at the moment boasts of over 2 million month-to-month energetic customers, having doubled its consumer depend in lower than three months. A lot of that development is tied to Solana ecosystem adoption, particularly round nonfungible tokens, or NFTs. Phantom supplies help to Solanart, a Solana-based NFT market that at the moment ranks eighth by way of commerce quantity, according to DappRadar.
1,000,000 energetic customers simply in time for @SolanaConf!!
— Phantom (@phantom) November 6, 2021
Whereas NFT commerce volumes have weakened in latest months amid a broad cooldown within the crypto markets, Phantom co-founder and CEO Brandon Millman instructed Cointelegraph that general adoption of the software program pockets is “nonetheless actually robust” and that the “NFT ecosystem has performed an enormous position.” He added that, “whereas the market is down a bit, some NFT collections have actually held their worth and even grown.”
Received crypto? Listed below are 3 software program wallets for storage, staking and swapping
Phantom has additionally been optimized to help the rising world of decentralized finance (DeFi), which is one other nook of the market that has cooled significantly in latest months. When measured by way of complete worth locked, or TVL, the decentralized finance trade has misplaced over 30% from its peak within the fourth quarter, in line with DeFi Llama.
