Also showcased Singapore’s first and largest autostereoscopic glasses-free 3D display screen, and hosted 33 Auction’s first ART NFT Online & Live Auction
SINGAPORE, Nov. 3, 2022 /PRNewswire/ — Metaverse Blockchain company Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), is pleased to conclude the inaugural Web 5.0 Conference in Singapore. Held on 1 Nov 2022, the event saw more than 400 attendees congregating in person to share and exchange ideas to seed a broader based Web 5.0 discussion between centralised (Web 2.0) and decentralised (Web 3.0) apps and platforms.
Highlights of the Web 5.0 Conference
Apart from a stellar line-up of local and international speakers who shared the stage to talk about topics surrounding 4 key themes – (1) Innovation, (2) Technology and Security, (3) Legal and Regulations and (4) Investment and Applications, the conference also showcased Singapore’s first and largest autostereoscopic glasses-free 3D display screen measuring 3.6m by 2m. This was one of the highlights of the conference as attendees were in awe by how Digital Ownership Tokens (DOTs) can be playable on autostereoscopic 3D devices. Attendees were able to appreciate the art pieces on display in the Art Exhibits section of the conference, as well as view them on the 3D display screen in three-dimensional formats in the Metaverse Exhibit section.
Chai Kok Young, Chief Technology Officer of Coinllectibles says, “Coinllectibles DOTs have always been different from the rest of the companies that deal with NFTs, in the way that we position them as an ownership token for physical art pieces. By incorporating technology that fuses digital experiences for physical items, this would allow buyers of our DOTs to have a truly immersive user experience as not only will they receive the physical art, they will also be able to own digital copies of the art in 2D and 3D formats. The conference serves as a great avenue for people to see our DOTs in person and experience what our technology has to offer for themselves.”
The Web 5.0 conference also hosted 33 Auction’s first Art NFT Online & Live Auction in the evening. Each artwork in the auction contains a Digital Ownership Token (DOT), besides being a physical artwork. 30 works by celebrated and in-demand contemporary artists, like Takashi Murakami, Yoshitomo Nara, Salvador Dali, Yue Minjun, Goh Beng Kwan, etc as well as 3 special edition watches by Quinting were put up for auction.
Terry Lee, Head of Art at Collectibles commented, “Coinllectibles is very pleased to be working with 33 Auction to hold their first Art NFT Online & Live Auction. We are also glad that we successfully sold 16 out of 33 auction items and this goes to show that there is indeed demand from the collectors community. We aim to strengthen our presence in Singapore by participating in more art-related events and auctions as we dive deeper into the art scene and community.”
For more information on Coinllectibles and its DOT offerings, 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 Coinllectibles™, 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™️.
SOURCE Cosmos Group Holdings Inc.