with @BChillman @jay_drainjr @rhackett

Crypto wallets are no longer just wallets. They’re the front door to a decentralized internet.

In this episode, Phantom CEO Brandon Millman joins a16z crypto Investment Partner Jay Drain and host Robert Hackett to unpack how crypto wallets are evolving into full-blown consumer finance platforms — and why they may be the most credible candidates to become the internet's next super apps.

We explore Phantom’s journey from a Solana-first wallet to a multi-chain platform, why wallets are uniquely positioned to win trust around money, and how features like onchain trading, perps, social feeds, prediction markets, and payments are reshaping what people expect from a consumer finance app.

The conversation also dives into:

• Why starting with finance may be a better path to a super app than starting with social
• How Phantom thinks about UX, trust, and security in crypto
• The rise of perpetual futures (perps) and prediction markets
• What the FTX collapse meant for Solana — and the counterintuitive silver lining
• Whether AI agents could one day replace apps and browsers

If you’re curious about where crypto, fintech, and consumer apps are headed next — and why wallets may become the most important interface on the internet — this episode is for you.

Highlights
01:32 – The evolution and role of crypto wallets
2:42 – Wallets vs. browsers: the right mental model
12:03 – Phantom’s origin story and the Solana bet
19:05 – Perps, trading, and product-market fit
26:08 – UX, trust, and consumer finance
30:52 – Social feeds, discovery, and network effects
35:21 – Crypto as "black hole" absorbing finance
37:09 – AI agents and the future of wallets

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As always, none of the following should be taken as investment, business, legal, or tax advice. Please see a16z.com/disclosures for more important information, including a link to a list of our investments.