Bubbles Bursted as Phantom Wallet Says No Plans to Launch a Token

Popular Solana-first blockchain wallet provider Phantom has told users that it has no plans to launch a token, following growing speculation that it plans to do so. Phantom addressed these concerns in a social media update, first thanking users for the increased adoption of a new social feature that allows people to follow other Phantom users. With the latest feature, users can create a customized username as they would on social media and then share it with others to build a followership.

Obviously, many users are making considerable effort to get more Phantom followers, assuming that doing so might qualify them for a potential airdrop in the future. However, Phantom has dismissed such claims, saying on X, “We’ve seen some speculation about an airdrop tied to this [social] feature, so to clarify: we do not have any plans to launch a token.”

We’re thrilled by the enthusiasm for following users on Phantom!

It’s a huge step for us toward making crypto more personal and user-friendly. By simplifying how you share and discover with friends, we aim to dramatically improve how users find new tokens and apps.

We’ve seen…

— Phantom (@phantom) January 3, 2025

Will There Ever Be a Phantom Airdrop?

For the records, rumors of a possible Phantom wallet airdrop have always been in the air since the platform became a popular tool among crypto users, especially on Solana. Phantom has a reported user base of over 3.2 million people, and that number may see further growth as the bull market continues.

Given such a large community, a potential airdrop seems an exciting prospect for Phantom users and could reward them handsomely for using the product. Additionally, any such Phantom-backed airdrop token could easily become one of the most widely distributed tokens in the industry’s history. Nonetheless, Phantom doesn’t seem interested in following that path, at least not yet.

However, it is worth noting that the wallet provider’s latest update may not be considered conclusive that there will never be a Phantom airdrop in the future. Market conditions and business objectives change even more readily in an industry as fast-paced as the cryptocurrency space.

In the meantime, there is nothing on the table for Phantom users, and it remains to be seen whether the latest update of no forthcoming airdrop will substantially impact the wallet’s ever-growing popularity.