Phantom Completes Seed Funding to Launch Cross-chain Based Synthetic Asset Generation and Issuance Platform
April 27, 2021 — Phantom, a new cross-chain synthetic asset generation and issuance protocol, today announced the recent close of its million-dollar seed round led by a diverse group of investors including LD Capital, NGC Ventures, Gate.io, and Kyros Ventures.
“Since becoming the hottest trends in the market, both DeFi and NFT segments are seeing obstacles that hinder their growth. Phantom seeks to combine the best of both worlds where it seeks to create liquidity to NFT assets, as well as expanding DeFi’s reach from crypto to the mainstream.” said Johnny, Founder of Phantom.
Phantom utilizes a synthetic asset mechanism where it enables users to split large value NFT assets into smaller amounts of tradable tokens (so-called “pNFTs”), thereby creating liquidity for the illiquid NFT markets. For its range of assets, Phantom will include not only crypto-based NFT assets but also mainstream markets such as Tesla cars, Esports gaming collectibles, and prediction markets.
Phantom was first incubated by the Conflux community, with early supporters including well-known E-sports KOLs.
🎁 As a thank you to the community and early supporters, we will launch a FREE AIRDROP event from April 29 to May 5, 2021.
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