Phantom, a popular crypto wallet service provider, has acquired blockchain data platform SimpleHash, marking its third acquisition in eight months.
Notably, the move aims to improve the accuracy and performance of token data for Phantom users, enhancing their experience in tracking digital assets.
SimpleHash is known for its real-time blockchain insights and supports over 80 blockchain networks. Notedly, the acquisition will integrate SimpleHash’s infrastructure into Phantom’s ecosystem, enabling real-time token prices, NFT metadata updates, and advanced spam protection for users.
“By bringing on SimpleHash, we’re ensuring that Phantom users have the most accurate and comprehensive token data,” said Brandon Millman, CEO of Phantom in the announcement. “SimpleHash unlocks a whole new level of usability for Phantom users.”
Key Enhancements from the Acquisition for Phantom Users
- Real-time Market Insights: Users will gain instant access to decentralized exchange (DEX) prices, historical sales data, and marketplace listings.
- Automatic Metadata Updates: NFT metadata will be updated dynamically across major chains and marketplaces.
- Enhanced Spam Protection: Advanced detection systems will filter out fraudulent or malicious tokens.
- Scalable Infrastructure: SimpleHash’s robust system will support high request volumes, ensuring reliable data availability.
Per the announcement, Olly Wilson, co-founder of SimpleHash, emphasized the benefits of the merger: “Joining Phantom allows us to scale our technology and bring even more powerful token and NFT data to millions of users. We’re excited to push the boundaries of what’s possible for crypto data accessibility.“
Implications for Existing SimpleHash Users
As part of the transition, SimpleHash has informed its existing customers that its standalone service will be phased out. For context, the integration into Phantom will centralize its token data offerings within the Phantom wallet.
This acquisition reflects Phantom’s broader strategy to create a seamless financial platform for crypto users, reinforcing its position as a leading wallet provider in the industry.
