On Monday, the team behind Phantom, the Solana web3 wallet platform, announced that it has raised $109 million in Series B fundraise. The crypto company is now a unicorn valued at $1.2 billion.
Solana Web3 Wallet Phantom Raises $109M
According to a recent blog post from the firm, the Phantom Wallet team has raised $109 million in a Series B financing round. In addition, Phantom also launched the iOS version of Solana Wallet for Apple smartphone users. Per the announcement, the $109 Series B was led by Paradigm. Additionally, Jump Capital, Solana Ventures, Variant and Andreessen Horowitz (a16z) participated in Phantom’s latest fundraise.
The fund will be dedicated to engaging more users and developers on Web3 and “innovating on the multi-chain wallet user experience”. In addition, the company said that it plans to grow the team and hire experts especially in community support and product development. The Series B fundraise follows the Series A that 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 gained over 2 million monthly active users in six months. “Collectively, our users have staked over 112.4 million SOL ($10.4 billion), exchanged $1.37 billion in tokens, and made 55.2M NFT, DeFi and app transactions,” said Phantom. Series B blog post description.
“Our first step toward this approach is the launch of Phantom on the mobile platform, beginning with the release of our iOS app to the public today,” the team wrote on Monday. “With an Android launch also coming soon, we couldn’t be more excited about the potential for mobile and use cases for the Phantom to empower a new set of users.”
Out of 12,280 crypto-assets in existence, Solana (SOL) has managed to take the seventh largest position in terms of market capitalization. Year-on-year, the SOL is up by 2,210%, but in the past month, it has lost 42.5% in value against the US Dollar. Nevertheless, SOL’s market valuation of $30.8 billion represents 1.68% of the overall $1.83 trillion crypto economy. Solana today has the 6th largest TVL in Defy and the 2nd largest in NFT sales.
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