Phantom Solana Wallet, a well-known non-custodial wallet, is adding Bitcoin support to its platform as it looks to become a multichain wallet.
Phantom disclosed in a recent post on X that it is incorporating Bitcoin (BTC) support. This thrilling development coincides with the announcement of a distinctive Ordinal Mint event that has captivated the interest of both Bitcoin and NFT enthusiasts.
The Ordinal Mint event will commence on June 27th and conclude on July 1st. Phantom will enable users to mint NFTs directly onto the Bitcoin blockchain during this period. This functionality, called Ordinals, has recently grown in popularity within the crypto community. Ordinals are digital collectibles that are both distinct and scarce, as they are inscribed directly onto individual Satoshis (the smallest unit of Bitcoin), in contrast to traditional NFTs.
Users of the Phantom wallet were informed that they would only be required to pay standard Bitcoin network fees during the inaugural mint event. To guarantee seamless transactions, the wallet suggests that users maintain a modest sum of Bitcoin (approximately $10-20) in their Native Segwit address, a particular form of Bitcoin address.
Phantom Demonstrates Understanding of the Interconnectedness of the Crypto Ecosystem
Phantom has been predominantly recognized for its Solana functionality. Nevertheless, the wallet’s most recent developments indicate more extensive objectives. Phantom may have established itself as a potential one-stop store for users who manage crypto assets across various blockchains by adopting Bitcoin and Ordinals.
Phantom’s decision is particularly commendable in light of the widespread adoption of decentralized finance (DeFi) and multichain applications. Consequently, the necessity of managing a variety of cryptocurrencies from a single platform while providing a more efficient user experience has grown. In other words, Phantom is committed to maintaining its relevance and remaining in business.
Therefore, the extent to which this represents a broader trend of popular wallets integrating multichain support remains to be determined. There is one certainty, however: Phantom’s action indicates an increasing recognition of the interconnectedness of the crypto ecosystem.
