SINGAPORE -- September 29, 2022 -- InvestorsHub NewsWire --
Metaverse Blockchain company Coinllectibles™, Cosmos Group Holdings
Inc. (OTC:
COSG), is pleased to share the company's year in review since
its first digital ownership token (DOT) was minted on 6 September
2021, which kickstarted the operations of its MetaMall on www.coinllectibles.art that facilitates the buying,
selling and trading of art and collectible DOTs. To recap, some of
the key developments in the last 12 months are as follows:
On 2 Sep 2021, Coinllectibles announced that it was entering
into a partnership with OKX to launch the inaugural Coinllectibles
DOTs collection. (https://www.cryptonewsz.com/coinllectibles-enters-into-a-partnership-with-okex/).
This collection – marketed as the Bronze Series, comprised
of 3 ceramic collectibles ranging from US$64,000 to US$128,600. In
less than a week, the inaugural batch of DOT collectibles were all
sold out (https://usanewshour.com/all-items-sold-for-coinllectibles%EF%B8%8F-inaugural-fusion-nft%EF%B8%8F-launch-with-a-total-sales-turnover-of-more-than-us600000/43311/).
On 20 Dec 2021, Coinllectibles announced that it was launching
its MetaMall to sell curated collectibles DOTs. Up to that point,
DOTs were sold via third party platforms. By launching the
MetaMall, it not only gave Coinllectibles an additional sales
channel, it also gave Coinllectibles the ability to cultivate a
community of DOT enthusiasts (https://www.bloomberg.com/press-releases/2021-12-20/coinllectibles-launches-metamall-featuring-the-inaugural-fusion-nft-by-artist-allan-banford).
On 12 Jan 2022, Coinllectibles entered into an equity purchase
agreement with an institutional investor for the purchase of up to
US$30 million of Cosmos Group Holdings, Inc common stock. The
investment into Coinllectibles would go towards funding a number of
areas of strategic importance including the technological
capability of the company to increase the scale of business
operations in 2022 and beyond (https://finance.yahoo.com/news/coinllectibles-enters-us-30million-investment-130000193.html).
On 25 Jan 2022, the Company announced that it had successfully
worked with Spink & Sons, a UK auction house founded in 1600s,
to launch their first DOT. The DOT contained a special
commemorative media file of a rare gold coin and was auctioned for
GBP18,000. Proceeds from the auction were split between
The Rodney Cook Memorial Fund and the Himal Foundation
(https://stockhouse.com/news/press-releases/2022/01/25/non-fungible-penny-hybrid-nft-of-new-gold-penny-of-henry-iii-successfully-bought).
This validated the potential of working with independent auction
houses as possible sales channels.
On 23 Mar 2022, Coinllectibles announced that it was partnering
with NBA Hall of Fame recipient – Chris Webber, to disrupt the
Sport & Entertainment Collectibles space (https://finance.yahoo.com/news/coinllectibles-partners-nba-hall-famer-135300685.html).
This partnership saw the formation of a new division –
Coinllectibles Sports and the launch of a limited-edition Sports
DOT.
Coinllectibles reported its unaudited financial results for the
six months ended 30 Jun of 2022 that the revenue for Coinllectibles
was more than US$8.8million. This was a jump of more than
100% for the whole year of 2021 – which was at
US$3.23million. This significant increase indicates that the
Company is gaining traction in the arts and collectibles space with
its DOT services.
Terry Lee, Head of Art for Coinllectibles,
said, "It is amazing to see what Coinllectibles has achieved in
such a short time. Having said that, our work is not done and there
is still a lot more projects in the pipeline. What is quite clear
to the team is that there is a huge opportunity for us in the art
and collectibles market. Based on research, those markets are
expected to reach US$347billion by 2030. It is simply exciting when
you think about how well-positioned Coinllectibles is and serving
those markets will definitely be our focus for some time."
For more information regarding the Coinllectibles, please visit
www.coinllectibles.art/.
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 DOT’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 annual 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:
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 digital ownership tokens (DOTs).
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 DOT technologies as tools to disrupt and enhance the
real world collectibles industry. The technology underpinning DOTs
(digital ownership 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. DOTs have the power to transform our societies
and some areas may be subject to regulations.
Coinllectibles™ uses DOT technology solely to provide a
legally-binding digital ownership token (DOT) to a tangible or
intangible collectible.
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™.
[1] https://www.globenewswire.com/news-release/2021/08/11/2278674/28124/en/Insights-on-the-347-53-Billion-Arts-Global-Market-to-2030-Identify-Growth-Segments-for-Investment.html
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