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Buying NFTs

Learn how to buy NFTs with your Squad.
We now support buying NFTs with any Gem.xyz supported marketplace: OpenSea, X2Y2, and LooksRare.

Proposing a Buy It Now

The fastest way to purchase is a "Buy It Now". Learn how to execute this type of purchase with your Squad.
Recommendation: It's helpful to have the link of the NFT you wish to buy ahead of time before submitting a buy proposal for your Squad.
Here's how to propose an NFT for your Squad to buy:
  1. 1.
    Navigate to the homepage of your Squad
  2. 2.
    Press "Add Proposal" button, located next to "Active Proposals"
  3. 3.
    Press the "Buy NFT" button
  4. 4.
    Paste in the link from a Gem-supported marketplace of the NFT you wish to purchase, and a preview will appear
  5. 5.
    If everything looks good, click "Propose Purchase"
  6. 6.
    Sign the Prysm one-time key
  7. 7.
    You've successfully proposed an NFT for your Squad to buy!
After proposing an NFT for your Squad to buy, a proposal page will be automatically created for the NFT. Click on "Share Proposal" to share it with your Squad members to approve. In order to delete the proposal, click on the three dots next to "Share Proposal" and hit "Delete."

Approving your Buy It Now Proposal

To execute a proposal, you must get approval from the amount of signers you decided on when creating a Squad. To learn more, visit this page.
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    Press the "Approve" button
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully approved the NFT buy proposal!
Once all the signers have approved the buy proposal, the proposal page status will change to "Approved for purchase" - now, you can execute it and buy the NFT!
Here's how to finalize a purchase:
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    Press the "Purchase" button
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully bought an NFT with your Squad!

Batch Buys

Batch buys enable your Squad to buy multiple NFTs at once.
Batch buys are currently not natively supported on Squads, but you can still use your Squads' wallet to conduct a batch buy using our method outlined below.
You can batch buy NFTs directly into your Squads' wallet using Gem.xyz and WalletConnect. Follow these steps:
  • Navigate to the gem.xyz website and press the "Connect wallet" button in the navigation
  • Choose WalletConnect and copy the WalletConnect key
  • Navigate to your Squad's Dashboard, and click the three dots on the top right of the page to find "Connect squad to external dApp" via WalletConnect
  • Paste the code into the app. Squads should automatically connect to gem. You will see a confirmation of this on your dashboard.
  • On gem.xyz, browse and select the NFTs you wish to purchase and add these to your cart
  • Once you have selected the NFTs you wish to purchase, click "Proceed to checkout" on the right side of the page. Review your order and click "Place Order"
  • On your Squad's Proposal tab, a proposal will appear to approve this purchase. Gather the necessary approvals. Subsequently, execute the transaction directly from the proposal page
  • After the transaction is confirmed on the blockchain, double-check your Squad's "Portfolio" tab to ensure the NFTs have appeared in your Squad wallet

Buying FAQs

Is there a minimum price constraint on the NFTs I buy?

No, there is no price constraint!

Can anyone in my Squad purchase an NFT?

Yes, anyone in your Squad can purchase an NFT — you will have to have a certain amount of signers approve the purchase, depending on what was decided during the creation of your Squad.

Will I get a notification once I purchase an NFT?

No, you won’t receive a notification currently but you will be able to see the NFT after you complete a purchase. However, notifications are definitely on our roadmap!

How is the NFT price calculated?

We use the 24 hour average sale price in order to calculate the price of the NFT.

Does anyone in my Squad actually “own” the purchase?

Your Prysm Squad is a multi-signature wallet shared by your Squad, so the NFT is co-owned by anyone on the multi-sig and does not sit in any individual’s wallet.