Prysm is the platform for collective ownership. We are innovating across DAOs and NFTs to help average people live more abundant lives through community-based ownership.
To some, this may look like an experiment at the bleeding edge of social finance.
But in a lot of ways, Prysm is a natural extension of trends across retail investing and culture that have been building for the last decade.
It’s important to understand where the collective ownership movement stems from. There are three key trends that help to tell that story.
The explosion of movements like Constitution DAO represent a generation of investors questioning the status quo. They seek more than financial returns when they invest. They are skeptical of legacy investment frameworks and the institutions behind them. They want to shape a future they are proud to live in. Many retail investors are drifting toward investment opportunities where they can compete and ways of investing where they feel in control.
The best communities form around ambitious missions, have a strong group culture, and have a clear way of flexing their brand identity. Think of the uniforms, memes, and other artifacts that make a group a group. Web3 enables communities to coordinate, build equity, and shape culture in ways that have never before been possible.
The NFT revolution of 2021 demonstrated how this asset class rewrites the rules of a traditional “investment”. NFTs are many things. While they most famously serve as a profile picture that connotes one’s status or allegiances, they are much more. They can represent a fan’s bet on an emerging artist. They can paint one’s identity in the metaverse. They turn gamers into digital entrepreneurs. NFTs supercharge culture by making culture ownable. Through ownership, investors have a chance to earn more than financial value. This is the key difference between passive investing and active ownership of an asset – the ability to make an impact.
Prysm sits at the intersection of all three of these trends.
At the most basic level, Prysm is a tool for buying NFTs with your friends. Users are able to form groups, pool money, and own NFTs together.
Behind all of our work on Prysm is a deeper vision for what investing can be — not necessarily this year, or next year but further out in the future.
Prysm harnesses Collective Ownership – a powerful new primitive unique to web3. Collective Ownership allows communities to pool together their resources to own anything. Through ownership of cultural assets, communities will shape the future in ways we can barely envision today. Imagine your favorite sports team owned by fans, not by billionaires; a music label owned by listeners; a city in the metaverse owned by a guild.
The world of Collective Ownership is just beginning to emerge.
We are building Prysm for one simple reason – to get there faster.