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https://warpcast.com/~/channel/phantom
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1/ Phantom is thriving in the self-custodial wallet race, competing with CEX giants like Coinbase & OKX. How did it grow 5x to reach 10M MAU in 2024 & what’s fueling its growth? Let’s dive in. 🏆 https://apiuminnovations.substack.com/p/phantom-part-2-user-adoption-and
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2/ User Adoption 📈 Phantom grew 5x in 2024 thanks to: - More chains, more users 🌐 (ETH, Polygon, BTC, Base, Sui added) - Memecoin mania 🚀 drove traders to self-custody - No native token: utility > speculation
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3/ Business Model 💰 Phantom makes money from swap fees, fiat onramps, cross-chain bridging, and staking. But its strategic move is in entering B2B via acquisitions: - Bitski (NFT infra) → Monetizing marketplace & enterprise solutions - Blowfish (Security) → B2B revenue via security tooling
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4/ New Opportunities? We see more revenue streams possible for Phantom: - Premium features 🛠 (analytics, add-ons) - Institutional wallet 🏛 (like MetaMask Institutional) - Token launchpad 🚀 (potential but risky)
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5/ User Retention 🔄 In Web3, users can easily switch wallets. Phantom must: - Deliver best UX & security 🛡 - Consider gamification 🎮 (daily check-ins, points) - Innovate constantly: no traditional moats in self-custody
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6/ What’s Next? 👀 Phantom’s Series C funding hints at: - Social discovery & P2P payments 🔗 (leveraging 3.8M usernames) - Exploring Web3 social finance (Venmo for crypto?)
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7/ Final Thoughts 🏁 Phantom is playing the long game—expanding across chains and entering B2B. Can it expand beyond being “just another wallet”? 🤔 In Part 3, we predict how the self-custodial wallet landscape will evolve & what that means for Phantom. Stay tuned! 👀
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