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Selling NFTs

Learn how to sell NFTs with your Squad.
You can now list NFTs in ETH on the OpenSea Marketplace!
Please note at this time although we do support buys from Gem-supported marketplaces, we only support sells on OpenSea. We are looking into enabling sells from Gem-supported marketplaces in the future.

Proposing a Listing

Here's how to list your NFT for sale:
  1. 1.
    Navigate to the homepage of your Squad
  2. 2.
    Press the "Add Proposal" button, located next to "Active Proposals"
  3. 3.
    Select "List NFT"
  4. 4.
    Select the NFT you wish to sell from the collection it belongs to
  5. 5.
    Set the sale price in the desired currency you would like to sell your NFT for, as well as the duration of the sale. For duration, you can pick from a few options: 1 day, 3 days, 7 days, 1 month and 3 months.
  6. 6.
    Click "Next"
  7. 7.
    Confirm the details of your NFT sell proposal, and if everything looks good, hit "Propose"
  8. 8.
    Sign the Prysm one-time key
  9. 9.
    You've successfully proposed an NFT sell for your Squad!
Note: The duration of the sale starts once you vote on a sell proposal, and will expire at the end of the period.

Approving your Listing Proposal

After proposing an NFT sell, a proposal page for initializing your Squad will automatically be created for the NFT—your Squad needs to be initialized before listing on OpenSea. 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."
Here's how to approve a sell proposal:
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    Click the "Approve" button
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully approved the NFT sell proposal!
Please note that to approve the initialization of the Squad before listing on OpenSea, you must get approval from the amount of signers you decided on when creating a Squad. To learn more, visit this page.
Once all the signers have approved the sell proposal, the proposal page status will change to "Ready to initialize"—you can now list your NFT on OpenSea!
Here's how to finalize a purchase:
  1. 1.
    Navigate to the NFT proposal page
  2. 2.
    Click the "Initialize squad" button
  3. 3.
    The proposal page status will change to "Ready to sell", click "Sell on OpenSea"
  4. 4.
    Follow the steps in the "Complete your listing" window and confirm the listing details are correct
  5. 5.
    You've successfully listed your NFT on OpenSea!

Cancel your Listing

Change your mind? You can always delist your NFT from the marketplace. Here's how:
  1. 1.
    Navigate to the page for the listed NFT
  2. 2.
    Under the "Approvals" section, click "Approve"
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully approved the NFT delist proposal!
Remember that in order to cancel a listed NFT, you must get approval from the amount of signers you decided on when creating a Squad. To learn more, visit this page.
Here's how to finish cancelling the NFT listing once all signers have approved the proposal:
  1. 1.
    Navigate to the page for the listed NFT
  2. 2.
    Click "Delist"
  3. 3.
    Sign the Prysm one-time key
  4. 4.
    You've successfully delisted your NFT!

Sell NFT to Squad

You can now sell an NFT from your personal wallet to your Squad's wallet. Here's how to do it:
  1. 1.
    Navigate to the homepage of your Squad
  2. 2.
    Click "Add Proposal", located next to "Active Proposals"
  3. 3.
    Click "Sell NFT to Squad"
  4. 4.
    Select the NFT you wish to sell in your wallet from the collection it belongs to
  5. 5.
    Set the sale price in the desired currency you would like to sell your NFT for.
  6. 6.
    Click "Next"
  7. 7.
    Confirm the details of your NFT sell proposal, and if everything looks good, hit "Propose"
  8. 8.
    Sign the Prysm one-time key
  9. 9.
    You've successfully proposed an NFT sell from your wallet to your Squad!

Selling FAQs

How do I sell my NFT?

  1. 1.
    Create a new proposal to "List NFT" (more on that here)
  2. 2.
    Set the start time for the listing and how long you want the listing to be active
  3. 3.
    Multisig approval for OpenSea to sell NFTs on your behalf (one-time gas TX)
  4. 4.
    Multisig approval to list item on OpenSea
If you have never sold an NFT before on Prysm, your Squad will have to sign two transactions. The first transaction gives OpenSea access to sell the NFT, and the second transaction performs the listing on OpenSea.
Every subsequent sell, regardless of collection, will only require a signal transaction (Skip Step 3)

Why is there a deadline for my Sell Proposal?

Due to a limitation on the OpenSea APIs, sell listing have to be executed within an hour of them being proposed or else they will rejected by OpenSea's system. Therefore, if an item is listed using Prysm's "immediately" function and completed within an hour, it will be listed as soon as the squad executes the proposal. This limitation is an open issue that we have reported to OpenSea.
Alternatively, if the squad needs more than an hour to collection all signatures you can choose to propose the order and execute it at some point in the future by selecting the other choices of 3 hours and 12 hours.

How do I lower the price of my NFT?

Follow the NFT Sell Flow. Lowering the price of the NFT will require gas. Note that the old listing at the higher price will still be active and will expire at the set time.

How do I increase the price of my NFT?

  1. 1.
    Create a new proposal to cancel listing (more on that here)
  2. 2.
    Select the listing you want removed
  3. 3.
    Multisig approval to remove the NFT
  4. 4.
    Follow the NFT Sell Flow and set the new price