Phantom acquires NFT data platform SimpleHash to enhance wallet features

Crypto wallet provider Phantom has announced the acquisition of SimpleHash, a non-fungible token data platform that supports over 80 blockchains.

Phantom did not disclose the deal’s value, but stated that the acquisition aligns with its goal of making cryptocurrency more accessible. SimpleHash contributes to this mission by providing a token data platform that tracks real-time price movements, NFT metadata, and marketplace activity.

“By bringing on SimpleHash, we’re ensuring that Phantom users have the most accurate and comprehensive token data,” Phantom chief executive officer Brandon Millman said. 

According to Millman, SimpleHash will enhance the multi-chain wallet’s usability, improving the experience for Phantom users.

Following the acquisition, the SimpleHash team will join Phantom, and the platform’s current services will be phased out. SimpleHash is Phantom’s third acquisition in the past year.

In May 2024, Phantom acquired Bitski, an embedded wallet provider that has worked with global brands, including Adidas, Major League Soccer, and WWE.

Commenting on this development, Solana co-founder Raj Gokal said:

“This move is going to make it so much easier for people to onboard to dApps and navigate the Solana ecosystem. Phantom is doing great work to simplify things and improve the overall user experience, and we couldn’t be happier to support their efforts.”

In November, the top Solana (SOL) wallet acquired fraud protection and web3 security platform Blowfish.

Like in the case of SimpleHash and Bitski, the Blowfish team joined Phantom’s.These integrations and acquisitions are crucial for Phantom as the team builds out what has become the most popular crypto wallet in the Solana ecosystem.

The wallet, which launched in 2021, recently raised $150 million in its Series C funding round, with funds aimed at the project’s mission to build a leading finance platform. Sequoia Capital and Paradigm co-led the wallet’s $150 million round at a $3 billion valuation, with a16z crypto and Variant among the existing investors that backed it.