Preface by Silke Brand | Now that makes sense! Just recently the NFT-Magic Eden platform released that Polygon-based NFTs will be supported on their art and collectibles platform. It is also known that they want to cooperate with more gaming projects. So must this have been a plan laid out about some time ago or has the updated data policy of MetaMask something to do with it? The trend is obvious: going multi-chain is hip! Or how Phantom declares it: One wallet for everything!
AmbCrypto discusses this and another possible reason below.
Phantom, a Solana-focused cryptocurrency wallet, announced it would move to other chains on November 29th 2022. This action followed the recent difficulties Solana had had following the demise of FTX. Could the FTX collapse have been a driving force behind this decision, or were there other influences?
Ethereum and Polygon are now Phantom-able
On Tuesday, November 29th 2022, the leading Solana wallet, Phantom, announced that it would enable functionality for assets on the Polygon and Ethereum blockchains. The company claimed that the perceived necessity for self-custody had driven it to expand its product to these other significant blockchains in the wake of the FTX crash. Additionally, it explained that authorizing usage on these chains allowed users to access resources from several chains in a single location. The action was also intended to advance the wallet’s goal of developing into a multi-chain wallet. Phantom claimed that it collaborated with Solana closely to create a premium wallet experience and now had more than three million users. The business has also announced that the private multi-chain beta would start in the coming weeks, with a public release scheduled for later this year.