Coinllectibles™️ Completes Acquisition Of Phoenix Waters Productions (HK) Limited and Phoenix Waters Productions Ltd (UK)
On February 7, 2022, Coinllectibles, a subsidiary of Cosmos Group Holdings (COSG), announced its acquisition of Phoenix Waters Productions for a combined value of US$4.5 million. Coinllectibles will hold a 51% stake in both the Hong Kong and UK entities. This acquisition aims to enhance Coinllectibles' NFT offerings within the entertainment sector, leveraging Phoenix Waters' production capabilities. Upcoming projects include a Cantonese remake of 'Tape' and Asia's first NFT drama series 'Crypto Keepers'. Both companies anticipate significant synergies due to evolving blockchain technologies in media.
- Acquisition expands Coinllectibles' presence in the entertainment sector, enhancing NFT offerings.
- Phoenix Waters' established production capabilities will drive new content development.
- Potential revenue growth from upcoming high-profile productions.
- Acquisition cost of US$4.5 million may strain financial resources.
- Integration challenges could arise in aligning operations between the companies.
SINGAPORE, Feb. 7, 2022 /PRNewswire/ -- Metaverse Blockchain Fusion NFT™️ company, Coinllectibles™️, a wholly owned subsidiary of Cosmos Group Holdings, Inc. (OTC: COSG) is pleased to announce the completion of the acquisition of both Phoenix Waters Productions (HK) Limited and Phoenix Waters Productions Ltd in UK, which is valued at HK
Phoenix Waters Productions is an award-winning multinational production company with offices in Hong Kong and London developing films, series, and variety shows for local and international audiences. Past productions include international pandemic thriller Lockdown while it recently wrapped the 1st season of Hong Kong crime series Forensic Psychologist. Upcoming productions include a Cantonese remake of Richard Linklater's Tape filming this Spring, Hong Kong's biggest zombie film in history Chungking Mansions featuring an international cast, Asia's 1st NFT drama series Crypto Keepers, and the first major Hong Kong superhero drama series Evos. Coinllectibles™️ is using its proprietary Fusion NFT™️ and blockchain technology to disrupt the arts and collectibles industry. The acquisition of Phoenix Waters provides the scope to further diversify Coinllectibles'™️ NFT offerings into the sizeable entertainment market place.
Commenting on the acquisition, Bizhan Tong, CEO & Founder of Phoenix Waters Productions said, "I am very excited about this acquisition due to the synergies which lie between Phoenix Waters Productions and Coinllectibles™️. With blockchain technology permeating the media and entertainment industry, the possibilities are endless in film making and production to evolve the experience and engagement audiences have with media and entertainment that will transform the industry. My vision is to see the Hong Kong entertainment industry thrive once again which can only be accomplished with a concerted effort to develop content geared internationally to accomplish this feat, so it becomes all the more clear that we need to expand more rapidly to cover every aspect of the film production process through the support of quality partnerships and strategic acquisitions. One such example is to work closely with Coinllectibles™️ to tap on their strengths and expertise to move forward."
Toby O'Connor, CEO at Coinllectibles™️ shares the same sentiments. "We are happy to complete the acquisition of Phoenix Waters Productions and to be working with Bizhan and his team in this creative and exciting entertainment space. We see tremendous opportunity to apply our evolving Fusion NFT™️ capabilities that bridge the physical and virtual dimensions to media and entertainment. Phoenix Waters positioning in Hong Kong and London enables us to continue to accelerate innovation as well as provide further access and relevance to our growing communities with an increasingly diversified offering delivered through our MetaMall and ecosystem."
To keep up to date with the latest offerings of Fusion NFTs™️ by Coinllectibles™️, please visit the MetaMall at 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 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 8-K filed on September 17, 2021. 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 Rachel Lim
Director, Marketing & PR
Rachel.Lim@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 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.
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 NFT™️
Coinllectibles™️ prides the Fusion NFT™️ as the industry "Gold Standard". Being a Gold Standard, a Fusion NFT contains the following on the blockchain – (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™️. In summary, a Fusion NFT™️ is a Digital Ownership Title (DOT) to the physical collectible it represents.
About Spink
Spink is the world's leading auctioneer of Stamps, Coins, Banknotes, Medals, Bonds & Shares, Autographs, Wine & Spirits, Books and Handbags & Accessories. Since its foundation in 1666, the Spink name has become synonymous with tradition, experience and integrity. Holder of royal warrants and numerous records for prices achieved at auction, Spink offers an unparalleled range of services to collectors worldwide. Headquartered in London, with offices in New York, Hong Kong, Singapore and Switzerland, Spink holds over 70 auctions a year. Catalogues can be accessed through the Spink website (www.spink.com), Spink Live online bidding platform (www.live.spink.com) or via the Spink App for mobile phones and tablets.
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SOURCE Cosmos Group Holdings Inc.
FAQ
What is the total value of the acquisition by Coinllectibles of Phoenix Waters Productions?
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