SINGAPORE, Sept. 29, 2022 /PRNewswire/ -- 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.
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About Cosmos Group Holdings Inc
Cosmos is a business group that operates in two business segments:
Arts and Collectibles
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.
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™️.
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SOURCE Cosmos Group Holdings Inc.