I wonder what the CFOs of private companies think about tokenized shares. And what courts will think if the shareholder agreements have transfer restrictions. 

Are the shares actually derivatives?

I imagine at the start the blockchain is just used as a settlement layer. Transfer restrictions are prob still respected by agent brokering deals. That’s mostly how we pitched at it at Harbor back in 2019.

Otherwise you’d have to get tokenizaton-friendly clauses at issuance stage (very hard), or issue tokens as ownership of entities owning the actual shares (complex & gray).

These “OpenAI tokens” are not OpenAI equity. We did not partner with Robinhood, were not involved in this, and do not endorse it.  Any transfer of OpenAI equity requires our approval—we did not approve any transfer. 

Please be careful.

OpenAI Newsroom

Cofounder & CTO @rodeodotclub @foundation.

https://rodeo.club/@elpizo

https://x.com/openainewsroom/status/1940502391037874606?s=46&t=46t6bgJxivtDYnYpXuE3UA