Commonly asked questions about Prysm and NFT Squads.
What is a Squad?
At Prysm, we like to think of a Squad as a group of frens who pool money and invest, together.
Why create a Squad on Prysm?
Web3 enables collective ownership, allowing anyone to own blue-chip assets, and ultimately anything, together. With Squads, we are enabling anyone to pool money together with their frens, and invest and win together.
Squads is powered by our protocol that combines Non-Fungible Tokens (NFTs) together with Decentralized Autonomous Organizations (DAOs), powerful forms of group capital coordination in web3. Since Squads is interoperable with DAO tooling, we make the group voting and decision-making process less of a hassle, and make it simple to track contributions and ownership with your Squad.
By creating a Squad on Prysm, you will not only be owning blue-chip assets together with your frens, but also contributing to the collective ownership movement.
How does Squads work under the hood?
Squads is built on top of the Gnosis SAFE protocol, and all of our smart contracts and systems that we use are audited and battle-tested.
Can I switch between Squads if I'm using the same wallet?
Yes, if you’re logged in with your wallet you can see a list of all the Squads you’re a part of on the “My Squads” dashboard, and can easily switch between them from there.
Can I swap my current wallet for a new one at any point, or is the wallet currently connected to Squads the only one I'm allowed to use?
You can add the new wallet as a new member and remove the old wallet, but everyone in your Squad will need to approve and execute the transaction since you are changing owners. In order to do this, you can click "Add Proposal" and then "Modify Members." For more on adding/removing members, check out our article here.
We're also looking for partners/collaborators, such as top NFT collectors, influencers, and investors to join our community, so if this sounds like you, or if you have ideas and want to get involved, shoot us a DM on Twitter!