Key Points
- Phantom wallet is now supporting Bitcoin and launching an Ordinal mint event.
- The event allows users to mint NFTs directly onto the Bitcoin blockchain using Phantom.
Phantom wallet recently announced that it will be adding support for Bitcoin. This exciting news was accompanied by the revelation of an Ordinal mint event, which has piqued the interest of both Bitcoin and NFT enthusiasts.
The Ordinal mint event is set to commence on June 27th and will end on July 1st. During this timeframe, users will have the opportunity to mint NFTs directly onto the Bitcoin blockchain using Phantom. This capability, known as Ordinals, has been gaining popularity in the crypto community. Unlike traditional NFTs, Ordinals are etched directly onto individual Satoshis (the smallest unit of Bitcoin), thus producing a unique and scarce digital collectible.
Phantom’s Embrace of the Crypto Ecosystem
Phantom wallet assured users that they would only need to pay the standard Bitcoin network fees during the inaugural mint event. For seamless transactions, the wallet advises maintaining a small sum (approximately $10-20) in Bitcoin within their Native Segwit address, a specific type of Bitcoin address format.
Phantom has been primarily recognized for its Solana functionality. However, recent developments suggest that the wallet is now aiming for broader objectives. By embracing Bitcoin and Ordinals, Phantom may have set itself up as a potential all-in-one solution for users managing crypto assets across different blockchains.
Phantom’s move is timely, considering the rise of multichain applications and decentralized finance (DeFi) across the spectrum. Therefore, the ability to manage various cryptocurrencies from a single platform while providing a more streamlined user experience has become increasingly vital. Whether this indicates a wider trend of popular wallets incorporating multichain support or not is yet to be determined. However, Phantom’s move indicates a growing recognition of the interconnected nature of the crypto ecosystem.
