Purchases & Sales
How do Members of Blackchip make purchase decisions?
Blackchip is entirely member-directed and managed by the Members through democratic voting. If a proposal is approved for purchase of a collectible, the Administrators will take steps to acquire that collectible on behalf of Blackchip. If collectibles are acquired outside of the popular auction houses or marketplaces the Administrators will negotiate fair prices and take every precaution to evaluate authenticity of the collectible. This process is to provide complete transparency for the Members and uphold the integrity of Blackchip.
A Blackchip Member should understand and acknowledge that they must bear the economic risk of any purchase and carries with it no guarantee of future performance of any kind.
How will Members decide what 'blue-chip' collectibles to acquire?
Members will focus on acquiring 'blue-chip' collectibles within the art, wine, whisky, memorabilia, classic car and NFT markets. These collectibles range across many different industries but are all considered to be highly coveted, rare and or unique making them attractive for collectors. Members can contact collectors, art galleries, distilleries or other third parties to gain insight on available collectibles and other relevant information when making decisions on what Blackchip should purchase. If requested by the Members, Blackchip administrators can facilitate pre-purchase meetings with these third parties about potential acquisitions. Blackchip is currently in the process of building out an experienced advisory team for Members to utilize when seeking help or advice on certain collectibles. For discussions and communication between Members, Blackchip has a Discord for the community to discuss trends and acquisitions before they go to proposal.
Is there a purchase period for collectibles?
Blackchip has recommended certain purchase periods, as reflected in the Roadmap. Acquiring collectibles in batches allows for better diversification as some assets may become available at different times. Members can make purchases until all contributed capital has been allocated.
Do Administrators have the ability to make purchase decisions?
Blackchip's Service Providers and Administrators have no role in making purchase decisions.
Will I receive any profit for being a Member?
Purchases made by Blackchip are inherently speculative and are made by the Members of Blackchip. The results of these purchases will likely vary, and any purchases made will involve a high degree of financial and market risk that can result in a complete loss of any Member's contribution to Blackchip. Members understand and agree that the sale of the Membership NFTs grants you access to a community that purchases collectibles however there no guarantee of future performance of any kind by Blackchip.
How will proceeds be distributed?
Members will receive proceeds, if any, if the sale of a particular collectible yields a profit. These distributions are based on the number of Membership NFTs each Member holds. Once launched, Blackchip will develop a claim feature on the website for each Member to securely withdraw their proceeds directly into their crypto wallets.
Can Members vote to reinvest proceeds?
Yes, Members have the ability to vote in favor or against the reinvestment of proceeds. Each proposal made to the community requires a majority vote in order to deny or approve a proposed activity.