0x Ecosystem 🪐 Spotlight: Prysm

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Welcome to the #0xecosystem 🪐 spotlight series, where we highlight some of the exciting and novel projects built on 0x. Next up is Prysm! With Prysm, you can turn your group chat into a DAO for collecting NFTs. We spoke with Prysm's head of growth, Kevin Thrams, about their recent beta launch of NFT squads, 0x NFT swap integration, and what’s next for Prysm.

Enjoy the interview! What is Prysm?

Prysm is a group ownership platform. Our mission is to create a more abundant world by redistributing wealth, capital and power.

Previously, capital ownership was limited to the 1%. But now, by harnessing the power of Web3, which is enabling a major redistribution of capital ownership, communities can coordinate and build equity to not only create collective wealth, but also shape culture in ways that previously were not possible.

We are bringing group ownership to the masses through NFT Squads: the fastest, most fun way to collect, own and flex NFTs with your friends. By leveraging DAOs as a structure for groups to share resources, NFT Squads enables the whole to be greater than the sum of its parts.

We are building Prysm to step closer to our mission to deliver the power of collective ownership to anyone, anywhere, on any device.

Can you tell us a little bit more about the recent launch of NFT Squads and what’s new in Season 2?

Our Genesis Season was meant to build our early product and with that our early community. We are incredibly grateful to our Early Access pass holders who equipped us with the insights needed to build the best possible product for the community. We’re now ready for Season II: opening access to more communities to redefine group ownership.

In Season II, Prysm Squads is expanding access to select Web3 communities where members of those communities can mint a Squads Early Access pass, with customized art for each community. We believe that communities are at the core of Web3 and are excited to enable them with access to Web3’s new ownership platform.

We are hoping to learn from these more established communities on how they define group ownership and which tools they need to achieve their ambitious mission – from supporting emerging artists, to buying and managing sports teams, or funding and enabling philanthropic causes. This will continue to shape our product for the future and bring us closer to a public rollout.

Why did you choose to build on 0x?

We use 0x to power the NFT Marketplace for our Squads. We wanted a way where our users could privately list NFTs with zero fees.

We chose to use 0x because of three reasons: track record, security, and customer support.

0x has a reputation for having an outstanding engineering team with several years of experience building smart contracts and APIs in Web3. At Prysm, user safety is at the core of everything we do. It was important to us that partners we work with have a battle-tested team and publicly audited smart contracts. The 0x team does not release code without passing through rigorous audits both internally and externally.

For a company that is as large and storied as 0x, we are always pleased by the responsiveness of the 0x team and community. Prysm’s reputation for excellent execution comes from our ability to rapidly iterate, fix issues, and deliver value to our Squads in hours, not weeks. It is critical for us to work with partners who are in line with this culture and work hard to unblock us. It is clear 0x is invested in teams succeeding and it shows in the developer experience.

What’s next for Prysm?

Our roadmap is changing on a continuous basis – at Prysm, we are talking to our users every day (we really mean every day). This has enabled us to uncover user needs from all types of group ownership use cases incredibly quickly.

As we continue the conversations with our users over time, we can not only provide them with an extremely good support system as they navigate the Web3 investing landscape as a team, but also discover new needs as groups experiment with different on-chain transactions and progress through the lifecycle of their fund.

We’re looking to build a platform that eventually supports every group ownership use case. These can be anything from small friend groups, communities that want to support a specific cause, or entire populations that need to coordinate themselves for community governance.

We will also be releasing a new hiring plan in June on prysm.xyz and will be hiring across the board.

Where can people go to learn more about Prysm?

Users who are eager to try out Squads can apply for early access passes on prysm.xyz. We are currently overwhelmed with a multitude of applications which we’re incredibly grateful for, but we ask for time to respond. If you want to expedite your application, you can always drop us a note in our Discord. Follow us on Twitter to stay tuned for a public launch coming later this year!

Thanks for chatting, Kevin! 🛠️ Interested in building on 0x?

0x is trusted exchange infrastructure for the internet that has enabled over $160 billion in tokenized value flow through all major blockchains. Developers can use 0x to add flexible, multi-chain exchange functionality into their applications and create new markets for all tokenized assets, including cryptocurrencies, DeFi tokens, and NFTs. 0x offers secure, audited smart contracts, a professional-grade API, and a comprehensive set of developer tools and documentation.

Get started with our developer documentation.