SINGAPORE, Sept. 20, 2021 /PRNewswire/ -- Metaverse Blockchain Fusion NFT™️ company, Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), is gearing up on its collectible offerings. We care very much about our community and are keen to emphasize key elements in NFT ownership and why it is important to stick with the "Gold Standard". Having received a lot of interest from the market, Coinllectibles™️ is delighted to list some of the commonly asked questions and provide the answers in this article.
What is Coinllectibles™️?
Coinllectibles™ is the first publicly traded metaverse blockchain Fusion NFTs™ technology company on the US OTC Markets that redefines art and collectible ownership in the digital age. Coinllectibles™️ is presently not a NFT marketplace. Through the use of NFTs, the company's key focus is to bridge the physical and virtual dimensions of the arts and collectibles market, and help collectors and creators improve the collection experience.
Coinllectibles™ curates and mints a wide range of collectible items into its proprietary Fusion NFTs™ – such as art pieces, sculpture and watches.
What is a Fusion NFT™️, and how is it different from a regular NFT?
A Fusion NFT™️ is a proprietary NFT format developed by Coinllectibles™️ that provides a gold standard of rights and title of ownership of a digital asset, securely underpinned by smart contracts and legal documents stored on the blockchain, that are connected to a physical asset.
Within the blockchain, a regular NFT will only have one Uniform Resource Identifier (URI) link to the InterPlanetary File System (IPFS). Using a regular NFT, an artist would store their digital artwork within the IPFS. There is a limitation on how much information can be provided within a regular NFT, due to how it is programmed.
For Fusion NFTs™️, multiple information are embedded within the single URI link (i.e. contract, reports, image, etc.), thus making the Fusion NFTs™️ more robust in capturing relevant information of the collectible items.
Buying and owning a Fusion NFT™️
The owner of a Fusion NFT™️ is essentially owning BOTH the physical collectible item as well as the digital Fusion NFT™️. The Fusion NFT™️ will contain the following key items:
1. Independent third party appraisal report
2. Sale and purchase agreement for the acquisition of the item
3. Transfer deed to transfer the ownership title and rights to the item to the holder of the NFT
4. Ownership certificate of the item
5. Bailment terms to address rights of possession to the item
Buyers of Fusion NFTs™️ are buying the whole collectible item. They are not buying a fractional ownership of the collectible. The Fusion NFT™️ will contain documents to transfer the relevant rights and title to the NFT buyer. Subject to applicable laws, a Buyer with full ownership title may decide to fractionalise his ownership of the item and distribute them.
Specific to owners of Fusion NFTs™️, they can either choose to (1) take possession of the physical collectible item and ship it to the location of their choice or (2) leave it with Coinllectibles™️, who may exhibit the item in its Fusion NFT™️ gallery in Hong Kong or elsewhere.
Should they decide to display it in the gallery, they can have their name up in an elegantly designed plate placed beside the art piece and/or do a short video to share why they decided to buy the item. This is a unique way of making it a holistic collection experience for the Fusion NFTs™️owners. The Coinllectibles™️ Fusion NFT™️ Gallery is in Hong Kong at the K11 Atelier (Victoria Dockside), a redevelopment of New World Centre situated in the prime location of Tsim Sha Tsui waterfront. K11 MUSEA is a museum-retail complex situated in the heart of the US$2.6 billion Victoria Dockside development.
Legal rights and protection of Fusion NFT™️ owners
As the owner of a Fusion NFT™️, they will be able to take the necessary legal action (as per what has been stipulated in the legal contract within the NFT) against those who infringe on their ownership rights, such as copy-cats who try to imitate the same image. Within the legal contract, there are terms of ownership and legal recourse will be available when third parties infringe such rights.
In addition, Coinllectibles™️ uses a host of identification technology to authenticate the ownership of the NFT holder to the collectible item. This ensures that the NFT holder will be able to legally exert his/her ownership to the collectible item.
Overall, Fusion NFTs™️ is the first of its kind to offer an experience and value beyond what is available in the burgeoning NFT market. It connects the physical art collectible to the digital medium while ensuring transparency in authenticity related information around ownership, valuation and written and visual detail on the collectible. This is the "Gold Standard" offered by Fusion NFTs™️. Stick with the Gold Standard.
About Cosmos Group Holdings Inc.
Cosmos Group Holdings Inc. (OTC: COSG) was formerly a television network and multimedia information and distribution company focused on serving the homeland security and emergency preparedness industry. The group's future will focus in the development of blockchain NFT technologies and platforms to facilitate the global trading of arts and collectibles.
About the Company – Coinllectibles™️
Coinllectibles™️ is an ACT (Arts and Collectibles Technology) company, which is redefining how the world thinks about art and collectible ownership in the digital age.
Their minted curated Fusion NFTs™️, capture all the rights and independent valuation and ownership of physical arts and collectibles securely underpinned by smart contracts stored on the blockchain.
Coinllectibles™️ Fusion NFTs™️ bridge the physical and virtual dimensions of the arts and collectibles market, providing a pleasurable, transparent, and frictionless experience to customers from all walks of life.
About Coinllectibles™️ Fusion NFT™️
Coinllectibles™️ prides the Fusion NFT™️ as the industry "Gold Standard". Being a Gold Standard, a Fusion NFT contains the following on the Inter Planetary File System (IPFS) – (1) a sale and purchase agreement reflecting the purchase, by the person minting the Fusion NFT™️, 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 NFT™️, (4) ownership title deed written into the description of the Fusion NFT™️ and (5) the unequivocal identification file of the underlying asset, whose ownership is reflected in the title deed represented by the Fusion NFT™️.
Contact: Ms Rachel Lim, Director of Sales and Marketing, +852-28398100, Rachel.Lim@coinllectibles.art
SOURCE Cosmos Group Holdings Inc.