Key Notes
- Phantom acquires SimpleHash to improve real-time token and NFT data for users, integrating the platform’s technology into its wallet ecosystem.
- The deal will see SimpleHash’s team join Phantom to provide comprehensive insights and real-time market data for users.
- SimpleHash services will be discontinued, allowing its team to focus entirely on enhancing Phantom’s blockchain data capabilities.
Leading decentralized wallet provider Phantom has today announced the acquisition of SimpleHash, a blockchain data platform specializing in token and NFT analytics. The move is aimed at improving the company’s ability to provide real-time asset insights, enhancing user experience across its wallet ecosystem.
While the financial details of the deal remain undisclosed, Phantom confirmed that SimpleHash’s team will join 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.
We’ve got big news…
We’ve acquired @SimpleHashInc, the leading token data platform that provides real-time, comprehensive blockchain insights. 🎉 pic.twitter.com/lbCirdzxu8
— Phantom (@phantom) February 26, 2025
Third Acquisition in Under a Year
As part of the acquisition, SimpleHash will gradually phase out its standalone. Phantom said in a blog post published February 26 that the company, established in 2022 had already informed customers about the service discontinuation.
“With SimpleHash now part of Phantom, users can expect a faster, richer, and more reliable experience when interacting with their assets. As part of this transition to Phantom, SimpleHash has notified all existing customers that the current service will be sunset,” reads the blog post.
With the services discontinued, the team will now focus entirely on integrating its technology into Phantom’s ecosystem, ensuring a smooth transition.
Since last year, Phantom has been gradually pushing to become a more comprehensive financial platform for crypto users. The company said the latest acquisition of SimpleHash marks its third purchase in under one year.
Phantom previously acquired Blowfish in November 2024 to bolster security measures and Bitski in May 2024, expanding its reach in the Web3 wallet space. However, with SimpleHash, the firm plans to focus on providing real-time market insights to users.
Accurate Token Data Insights
As a blockchain data platform, SimpleHash already supports more than 80 protocols. According to the blog post, the firm processes thousands of requests per second, making it one of the most robust token data infrastructures in the industry.
By integrating SimpleHash, Phantom is ensuring that users 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.
Phantom CEO Brandon Millman believes 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. However, 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.
In January, 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.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Chimamanda is a crypto enthusiast and experienced writer focusing on the dynamic world of cryptocurrencies. She joined the industry in 2019 and has since developed an interest in the emerging economy. She combines her passion for blockchain technology with her love for travel and food, bringing a fresh and engaging perspective to her work.
