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08.08.2022 10:01
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Coinllectibles™️ Successfully Expanded Art Collection Portfolio with Acquisition of 58 art pieces after the near Sell-Out of the Previous 55 Art Pieces
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PR Newswire
SINGAPORE, Aug. 8, 2022
SINGAPORE, Aug. 8, 2022 /PRNewswire/ -- Metaverse Blockchain company, Coinllectibles™️, a wholly owned subsidiary of Cosmos Group Holdings, Inc. (OTC: COSG) is pleased to announce the successful acquisition of 58 art pieces through the Grand Gallery (the "Collection"), with a consideration of US$167,308. The Collection is comprised of various antiques from Dynastic China spanning the Tang, Song and Qing Dynasties.
Tokenization and Commercialization of the Collection
The latest acquisition of the Collection came after the successful near sell-out of the previous collection of 55 sets of collectibles ("55-Set") which was acquired by Coinllectibles™️ last year. After partially converting the 55-Set into 32 minted DOTs (with 29 of which having been quickly sold thus far), the 55-Set DOT collection has already successfully generated an revenue of $9.28 million for the Company to date.
One of the reason behind the tremendous success thus far had been Coinllectibles™️ strategy of working with renown galleries.
Commenting on the acquisition, Marsella Cheng, PR Director at Coinllectibles™️ said, "This is another critical step forward to us. We are extremely thrilled about this new phase of development in the art business which further defines our positioning between physical and digital. We look forward to continuing to build a diversity in art community across the globe with acquisition of more exclusive classical art pieces."
Forward Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by terms such as "anticipate," "believe," "could," "estimate," "expect," "goal," "intend," "look forward to," "may," "plan," "potential," "predict," "project," "should," "will," "would" and similar expressions. These forward-looking statements may include, but are not limited to, statements regarding future business activities including the expansion into the decentralized financing space. These forward-looking statements are not promises or guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein include uncertainties associated with operating a business in Singapore and Hong Kong, risk of interference by the PRC government, ability to compete, that financial resources do not last for as long as anticipated, and that COSG is a holding company that may not realize the expected benefits of NFT's offered by Coinllectibles™️. A further list and description of these risks, uncertainties and other risks can be found in COSG's regulatory filings with the U.S. Securities and Exchange Commission, including in its current report on Form 10-K filed on April 15, 2022. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. COSG undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise.
For media queries, please contact:
Ms Marsella Cheng
Director, PR
media@Coinllectibles.Art
About Cosmos Group Holdings Inc
Cosmos is a business group that operates in two business segments:
- Arts and Collectibles
- Financing
Through CoinllectiblesTM, the group provides authentication, valuation and certification (AVC) service, sale and purchase, hire purchase, financing, custody, security and exhibition (CSE) services to art buyers through traditional channels, as well as through leveraging blockchain technology through the creation of non-fungible tokens (NFTs).
With subsidiaries licensed under Hong Kong's Money Lenders Ordinance, the group currently primarily provides unsecured personal loan to private individuals, with a small portfolio of mortgage loans. The group is integrating the two business segments by offering secured financing services to prospective art and collectibles purchasers to provide a one-stop arts and collectibles purchasing and financing experience.
About the Company – Coinllectibles™️
Coinllectibles™️ is a technology company supporting the collectibles industry with a focus on rare memorabilia and artworks that exist and have intrinsic value in the real world, whether tangible or intangible in nature.
Coinllectibles™️ applies blockchain, marketplace, metaverse and NFT technologies as tools to disrupt and enhance the real world collectibles industry. The technology underpinning NFTs (non-fungible tokens) has multiple functional use cases that Coinllectibles™️ is applying to areas including art, sports, watches, numismatics, limited edition toys, limited edition fashion wear and sneakers. NFTs have the power to transform our societies and some areas may be subject to regulations. Coinllectibles™️ uses NFT technology solely to provide a legally-binding digital ownership token (DOT) to a tangible or intangible collectible, which our analysis suggests would functionally fall outside any regulatory parameter.
Website: www.coinllectibles.art
Facebook: https://www.facebook.com/Coinllectibles
Instagram: https://www.instagram.com/coinllectibles/
Twitter: https://twitter.com/coinllectibles
LinkedIn: https://www.linkedin.com/company/coinllectibles
Telegram: https://t.me/Coinllectibles
About Coinllectibles™️ Fusion DOT
Coinllectibles™️ prides the Fusion DOT as the industry "Gold Standard". Being a Gold Standard, a Fusion DOT contains the following on Arweave – (1) a sale and purchase agreement reflecting the purchase, by the person minting the Fusion DOT™️, of the underlying asset at a fair value with all rights and restrictions clearly detailed, (2) bailment terms governing the rights to possession whilst the underlying asset remains with Coinllectibles™️, (3) a transfer deed reflecting the transfer of the ownership of the underlying asset (together with all rights and restrictions) by the transferor to the holder of the Fusion DOT™️, (4) ownership title deed written into the description of the Fusion DOT™️ and (5) the unequivocal identification file of the underlying asset, whose ownership is reflected in the title deed represented by the Fusion DOT™️.
View original content:SOURCE Cosmos Group Holdings Inc.
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