Phantom Acquires a16z-Backed Bitski to Enhance Solana Wallet with New Use Cases

May 21, 2024, 01:20 PM

Phantom, a prominent Solana wallet provider, has acquired Bitski, a leading platform specializing in NFT and Web3 embedded wallets, which is backed by a16z. The acquisition, for an undisclosed sum, aims to integrate Bitski's technology into Phantom's wallet, enhancing user experience with features such as simple email sign-in, easy onboarding for both users and developers, and enabling new use cases. This strategic move is expected to accelerate mass adoption of crypto wallets on the Solana blockchain.