Who is using Squads?

A quick overview of common use cases, and examples of live Squads today.
Squads works well for groups that want to invest in NFTs together. The best use cases are trusted friend groups and large web3 communities.

Friend Groups (2–20 people)

Today, friends that want to invest together often pool their money into a single externally-owned account (EOA) wallet (e.g. MetaMask), trusting that the holder of the private keys doesn't lose the group's money. This single point of failure is a significant security risk and has caused many friend groups to lose their funds.
On Prysm, friend groups can operate in a multi-signature wallet. Due to Prysm's direct integrations with marketplaces and other dApps, they can still execute investment decisions at a fast pace while at the same benefitting from the power of trustless multi-signature investing, where the responsibility no longer lies with one person.
NGMI GMI Club is an example of a 3-person friend group that has acquired and sold 20+ NFTs as a team.

Communities (20+ people)

Large communities web3 communities that want to invest into NFTs together have a lot of investing power given cumulative capital that could be pooled together. However, they suffer from slower decision-making, challenges with ownership tracking, legal considerations and managing members over time.
Squads makes it seamless to pool money from large groups together in dedicated funding rounds. Similar to a venture capital model, when valuations of the Squad increase, early investors will be rewarded accordingly before new members can join. Squads also streamlines group decision-making in proposal formats, where votes can be aggregated quickly on chain before transactions (like NFT buys, sells, adding or removing members) are executed on chain.
Larger communities also benefit from the role management features on Squads: Non-signing members can join a Squad and hold an equity stake in the Squad, while not being a signer on the multi-signature wallet itself. This enables new members to join quickly and without incurring any gas fees.
Dead Birds Society is an example of a 50+ person Squad that originated from Proof. Their purpose is to acquire Moonbirds with rare traits.
For larger groups, we recommend voting on a smaller investment delegation that owns the decision-making for all investments. Contributions to the multi-signature wallet are still mapped to the non-voting contributors.

More live Squads and examples