NFT wallet Phantom bags $109m Series B

Phantom, which claims to be the fastest growing crypto wallet, has bagged $109m in its Series B funding round, which was led by Paradigm.

Existing Phantom investors, a16z, Variant, Solana Ventures and Jump Crypto also joined the round.

The company has three core areas for growth with this funding. The first is to onboard users and developers to Web3, to help users find decentralised applications and offer tools to improve the developer experience. Secondly, the company will innovate on the multi-chain wallet experience, as it looks to extend the capabilities of what crypto wallets can do.

Finally, it plans to hire more staff to its team, with a particular focus on its product development and community support units.

Despite only launching its platform six months ago, it already has over two million monthly users.

To support more growth, the company is launching its services to mobile devices. It kickstarted this move with the release on iOS devices today and will go live on Android phones soon.

Phantom is a wallet that lets consumers safely and easily store, buy, send, receive, swap and collect NFTs on the Solana blockchain.

Last month, Mastercard teamed up with Coinbase to let people purchase NFTs with their debit and credit cards. Coinbase is working with Mastercard to classify NFTs as digital goods.

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