Organization

How is Blackchip structured?

Blackchip is organized as a Wyoming DAO limited liability company formed to facilitate collectible memberships. Blackchip plans to utilize smart contracts and other blockchain tools to automate and improve transparency around certain aspects of the projects governance and business operations. This structure is commonly known as a “decentralized autonomous organization” or a “DAO.” The rights and obligations of Blackchip Members are set forth in these FAQs. 

 

You should consult his or her own tax, financial, and legal advisors prior to making any investment in Blackchip DAO. 

Blackchip will be member-managed and rely on service providers (Snapshot, Blackchip Technologies) and it's Administrators to facilitate various administrative functions on behalf of the Members. Administrators will assist in validating information related to assets selected for purchase, negotiations on behalf of the Members and handling other activities that arise (i.e. distributions to Members, asset insurance, storage, transportation, authenticity analysis). For these services, the Administrators will receive a fee, pursuant to a schedule outlined here.

 

What are the tax implications with Blackchip?

Blackchip Members must rely on their own tax and legal representatives as to the tax implications of joining Blackchip, purchasing a Membership NFT or any purchases/sales made by Blackchip.