Solana-focused crypto wallet Phantom has announced an expansion that brings new support for two other blockchains, Ethereum and Polygon. As a result, Phantom users will now be able to access three blockchain ecosystems to trade, receive, and swap tokens as well as collect NFTs. According to a statement, the Phantom team will collaborate closely with Polygon to develop a wallet appropriate for the layer-2 blockchain's environment. Phantom will think about integrating its cryptocurrency wallet natively with other blockchains in the future.
"We’re graduating from a mono-chain wallet to a multi-chain wallet," Millman said. "It was always our goal to bring Phantom to a multi-chain world. It was always our understanding that the world was moving to a more multi-chain world so it’s something that is more of a homecoming for us," said Brandon Millman, CEO and co-founder of Phantom.
Crypto Wallet Expansions
Phantom Introduces Support for Polygon and Ethereum in its New Update
Trend Themes
1. Multi-chain Wallets - The expansion of Phantom's crypto wallet to support multiple blockchains creates an opportunity for other wallets to follow suit and become multi-chain.
2. NFT Trading - With Phantom's support for NFT collection and trading, there is an opportunity for businesses to capitalize on the growing NFT market and provide platforms for users to easily buy, sell, and store their NFT assets.
3. Collaborative Wallet Development - Phantom's collaboration with Polygon to develop a wallet suitable for the layer-2 blockchain's environment sets a precedent for other blockchain companies to collaborate and develop wallet solutions that work seamlessly with different blockchains.
Industry Implications
1. Cryptocurrency Wallets - The expansion of Phantom's crypto wallet to support multiple blockchains creates an opportunity for other wallets to follow suit and become multi-chain.
2. NFT Marketplaces - With Phantom's support for NFT collection and trading, businesses can create platforms for users to easily buy, sell, and store their NFT assets, opening up opportunities for new NFT marketplaces to emerge.
3. Blockchain Development - Phantom's collaboration with Polygon to develop a wallet suitable for the layer-2 blockchain's environment sets a precedent for other blockchain companies to collaborate and develop wallet solutions that work seamlessly with different blockchains.