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Prysm, DeFi-based Social Investment Platform, Announces Beta Launch

UTC by Bhushan Akolkar · 2 min read
Prysm, DeFi-based Social Investment Platform, Announces Beta Launch
Photo: Unsplash

The Prysm social investment platform aims to make social investing and learning possible by following actual investors and not just so-called “experts” and influencers. It provides verifiable profile of investors.

On Wednesday, September 22, Prysm, a DeFi-based social investment platform, announced raising $3 million in a seed round led by North Island Ventures. Prysm also launched its public beta at the same time.

Prysm Beta Launch

Prysm seeks to change the face of the digital investing economy with the help of Web 3. It helps users to find and follow the best investors via different Web 3 investment opportunities. With Prysm, users can find credible investors on the platform and follow their investment ideas.

Thus, Prysm helps a large number of investors to gain an edge by sharing ideas and investing together. The official announcement also notes:

“The world of web3 investing moves fast. You rely on experts to curate new investment opportunities but it’s hard to find ones you vibe with. Prysm helps you find expert investors through customizable leaderboards. Filter and sort by interests, holdings, performance, etc”.

This social investment platform aims to be different from the rest. There are several so-called “experts” on social media platforms. Prysm helps users to cut through this noise showing transparent and user-friendly investing profiles. Users can track and verify the records of “experts” since all profiles are tracked by on-chain track records.

Besides, the Activity Feed gives a sneak peek into what investors are actually doing, and not just their suggestions.

Creating New and Dynamic Social Investing Models

Prysm said that it’s enabling a new era of social investment models. The goal is to come over the traditional investment and advisory models through a new digital investing economy.

This communtiy-driven movemnet comprises of Creators and Experts Investors who can guideretail players with right investment strategies. the announcement notes:

Prysm will give them the tools to build a reputation, share their expertise and monetize. We utilize community tokens, NFTs, and DAOs to enable collaborative investment models that allow creators, fans, experts, and amateur investors to invest together. A retail investing paradigm shift is underway and we’re catalyzing it.

Prysm said that recent fundraise will help them take the next step in its mission of creating a fairer investing ecosystem for retail investors.

Some of the other big players participating in the funding included Polychain Capital, Reciprocal Ventures, Leminscap, CMT Digital, Free Company, Alameda Ventures, Infinite Capital, Flow Ventures, etc.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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