a16z Leidt invests $ 9m in Phantom’s multi-network crypto wallet

Phantom, a multi-homed crypto wallet and browser extension from the Center for Digital Asset Management and access distributed applications (dApps) drew $ 9 million Series A funding round led by venture capital Андреессеном Горовицем (a16z).

The funding round also included the Variant and Jump Capital Fund and Harry Tan, one of Coinbase’s early investors, and other angel investors who made Defi projects complex and dYdX. Other notable participants include Deci Alliance, Ethereum Foundation and Solana Foundation.

Phantom, which launched in beta in April 2021, has previously received $ 500,000 in grants from Serum and Solana, and claims to have increased its user base to 70,000, largely at the expense of its US user base. 

With a browser extension compatible with Google Chrome, Brave, and Firefox, the wallet allows users to trade and interact with decentralized funding (Defi) applications, decentralized exchange, non-exchangeable token (NFT), platforms, and Blockchain games. All this is done with an easy-to-use and intuitive wallet interface, as The Phantom team has highlighted. 

After receiving new funds, the project plans to hire new experts, develop new functionality of the platform and implement integration with other blockchains.

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The future of the multi-chain Phantom
According to Brandon Millman, CEO and co-founder of Phantom, other portfolios in the market make it difficult for crypto assets to move between decidedly different blockchains, as users have to rely on third-party help. 

“As the world moves towards a multi-chain future, the great interest of our beta group participants shows that our team is developing a Defi wallet for a wide audience,” Millman said. 

Most popular decentralized apps (Dapps): from Defi to games

Phantom’s plans also include mobile apps for iOS and Android, as well as support for Ethereum and Ethereum Layer 2 solutions

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