TOKENICATION_ is your reliable source for the latest news and analysis on cryptocurrencies. We provide up-to-date information on Bitcoin, Ethereum, and other digital currencies to keep you informed about the latest trends and help you make informed decisions.
Date: 2025-02-26 19:17:31
Phantom, a crypto wallet provider, has revealed its acquisition of SimpleHash, a platform for non-fungible token (NFT) data that supports over 80 blockchains.
Although the financial details of the deal were not disclosed, Phantom stated that the acquisition supports its objective of making cryptocurrency more accessible to users. SimpleHash contributes to this goal by providing a comprehensive token data platform that monitors real-time price movements, NFT metadata, and marketplace activity.
"By integrating SimpleHash, we're ensuring that users of Phantom have access to the most precise and extensive token data," said Brandon Millman, CEO of Phantom.
Millman added that SimpleHash will improve the functionality of the multi-chain wallet and enhance the user experience for Phantom users.
After the acquisition, the SimpleHash team will join Phantom, and the platform's current services will be gradually phased out. SimpleHash marks the third acquisition made by Phantom in the past year.
In May 2024, Phantom acquired Bitski, a provider of embedded wallets that has collaborated with major global brands, including Adidas, Major League Soccer, and WWE.
Raj Gokal, co-founder of Solana, commented on this development:
Read More: "Core Scientific Shares Soar Following $1.2B Data Center Enlargement by CoreWeave"
"This move will greatly simplify the onboarding process for people accessing dApps and navigating the Solana ecosystem. Phantom is doing excellent work to streamline processes and enhance the overall user experience, and we're thrilled to support their efforts."
In November, the top Solana (SOL) wallet acquired Blowfish, a platform for fraud protection and web3 security.
As with SimpleHash and Bitski, the Blowfish team joined Phantom's. These integrations and acquisitions are essential for Phantom as the team develops what has become the most widely used crypto wallet in the Solana ecosystem.
The wallet, which debuted in 2021, recently secured $150 million in its Series C funding round, with the funds intended to support the project's mission of building a leading finance platform. Sequoia Capital and Paradigm co-led the wallet's $150 million round at a $3 billion valuation, with existing investors a16z crypto and Variant among those who backed it.
Read More: "ARK Invest Exchanges Almost $9M of Bitcoin ETF Shares for Coinbase Assets"