Phantom Acquires Blockchain Data Platform SimpleHash to Enhance Token and NFT Analytics

Leading decentralized wallet provider Phantom has today announced the acquisition of SimpleHash, a blockchain data platform specializing in token and NFT analytics.

Decentralized wallet provider Phantom has announced the acquisition of blockchain data platform SimpleHash, which specializes in token and NFT analytics.

The move will see the two Web3 firms combine their expertise to enhance the company’s ability to provide real-time asset insights, ultimately improving user experience across its wallet ecosystem.

While the financial terms of the deal have not been disclosed, Phantom said in a blog post that SimpleHash’s team will be joining its ecosystem to help “supercharge token data for users.”

With the team onboard, Phantom aims to push the boundaries of what’s possible for crypto data accessibility.

“As part of this transition to Phantom, SimpleHash has notified all existing customers that the current service will be sunset and the SimpleHash team will be joining the Phantom ecosystem,” the company said.

As part of the acquisition, SimpleHash will be gradually phasing out its own services and customers can reach out to the team via email for any queries.

The company, which was founded in 2022, said it had already informed customers about the service discontinuation and the transition to Phantom’s ecosystem.

“With SimpleHash now part of Phantom, users can expect a faster, richer, and more reliable experience when interacting with their assets,” the company added.

Since last year, Phantom has been gradually pushing to become a more comprehensive financial platform for crypto users. The company said the latest acquisition marks its third purchase in under one year.

Phantom previously acquired Blowfish in November to bolster security measures and Bitski in May, expanding its reach in the Web3 wallet space. However, with SimpleHash, the firm plans to focus on providing real-time market insights to users.

As a blockchain data platform, SimpleHash already supports more than 80 protocols and processes thousands of requests per second, making it one of the most robust token data infrastructures in the industry.

Through this integration, Phantom users will have access to real-time price tracking for cryptocurrencies and non-fungible tokens (NFTs), instant metadata updates, advanced spam detection and scalable infrastructure that can handle high traffic with ease.

According to Phantom CEO Brandon Millman, the platform will significantly enhance usability for Phantom users.

“By bringing on SimpleHash, we’re ensuring that Phantom users have the most accurate and comprehensive token data. SimpleHash unlocks a whole new level of usability for Phantom users,” he said.

Meanwhile, Phantom is one of the leading self-custodial wallets for Solana users. The multi-chain wallet has since expanded its capabilities to support the Ethereum blockchain, Polygon, Bitcoin and other blockchain networks making it a versatile choice for crypto users.

The company offers users the ability to move their assets across its supported chains with features like token swapping, staking and NFT management.

Earlier this year, Phantom closed its Series C funding round, raising $150 million from venture capital companies like a16z and Variant. Currently, the Web3 wallet provider is valued around $3 billion.