TL; DR
- Phantom has announced the integration of Bitcoin into its platformexpanding the functionalities of the renowned Solana wallet.
- The launch of the Ordinal Coin event has been announced, scheduled from June 27 to July 1. Users will be able to do that Create NFTs directly on the Bitcoin blockchain.
- To participate, users simply need to do so cover standard Bitcoin network fees. It is recommended to maintain a minimum BTC balance at the Native Segwit address for smooth transactions during the event.
The well-known one Solana wallet, Phantom, is paving its way toward a multi-chain future. That happened recently announced the integration of Bitcoin into its platform, along with an innovative NFT creation event called Ordinal Mint.
The announcement marks a strategic change for Phantom, best known for its functionality on the SOL network. Users can now manage both Solana and Bitcoin assets directly within the same wallet. This expected expansion meets the growing demand for platforms that enable efficient management of multiple cryptocurrencies.
Bitcoin is on Phantom 🙌
To celebrate, we’ve come up with something special… @solanapoet’s very first Ordinal mint, exclusively for Phantom users 🧡👻
Here’s what you need to know 👇 https://t.co/idoQWaSFdW
— Phantom (@phantom) June 24, 2024
The Ordinal Coin event, starts on June 27 and ends on July 1allows Phantom users Creating NFTs on the Bitcoin Blockchain. The innovative aspect of Ordinals lies in the fact that these NFTs are registered directly to individual Satoshis, the smallest unit of Bitcoin, making them unique and scarce digital assets with significant potential and utility.
How will Phantom’s Ordinal Mint work?
Only users during the event must cover standard Bitcoin network fees to participate in creating these ordinal numbers. To ensure smooth transactions, Phantom has advised users to do so maintain a minimum balance of Bitcoin in their Native Segwit address, a specific BTC address format.
Phantom is heading for Bitcoin integration. The creation of Ordinals not only enhances the wallet’s capabilities, but also reflects the understanding of the increasingly interconnected nature of the crypto ecosystem. At a time when multichain applications and decentralized finance are on the rise, Providing a user experience that allows crypto assets from different blockchains to be managed on a single platform becomes crucial.
It remains to be seen if other popular wallets will follow Phantom’s lead and decide to venture into multichain support. For now, the wallet demonstrates its commitment to adapting to the changing needs of users and staying relevant in the market.