Coinllectibles™️ Enters Into US$30million Investment Agreement And Achieves Operational Milestones
Cosmos Group Holdings (OTC: COSG) has announced a public filing of an investment agreement for up to US$30 million to support its subsidiary, Coinllectibles™️. The funds are designated for enhancing technological capabilities and expanding business operations in 2022. Coinllectibles™️ has successfully launched NFT projects and a gallery in Hong Kong in 2021, marking significant milestones in the NFT market. CEO Toby O'Connor emphasized the company's commitment to innovation in art and collectibles ownership as they continue to navigate a robust NFT landscape.
- Secured an investment agreement for up to US$30 million to enhance business operations.
- Coinllectibles™️ successfully launched multiple NFT projects and a gallery in Hong Kong in 2021.
- CEO highlights commitment to innovation and growth in the NFT market.
- Operational risks associated with the markets in Singapore and Hong Kong.
- Potential governmental interference from the PRC impacting business operations.
- Financial resources may not last as long as anticipated, impacting business strategies.
SINGAPORE, Jan. 12, 2022 /PRNewswire/ -- Cosmos Group Holdings, Inc. (OTC: COSG) is pleased to announce the public filing of an investment agreement signed with an investor for the purchase of up to US
In 2021 Coinllectibles™️ achieved a number of milestones based around the Fusion NFT™️ denoting authentication and ownership of physical art pieces. In the second half of the year Coinllectibles™️ had several successful launches of ceramic pieces and minted NFTs with globally prominent artists. The company also opened a gallery in Hong Kong, made two acquisitions and launched its MetaMall site.
Commenting on the progress to date, Toby O'Connor, CEO of Coinllectibles™️ said, "2021 was our first year of operations and we made great progress across the business in a number of areas. The foundation work done earlier in 2021 paid off with several successful launches later in the year and promising interest seen in increasing primary and secondary market turnover of Fusion NFTs. We are pleased to start the New Year with this positive news as we look to execute on our business plan and our opportunities in a robust NFT market. Technology development is an area of strong focus, and we are committed to being at the forefront of responsible innovation in this exciting and evolving market of art and collectible ownership."
More details on Coinllectibles™️ MetaMall and its offerings of Fusion NFTs™️ can be found on https://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 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™️.
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SOURCE Cosmos Group Holdings Inc.
FAQ
What is the investment agreement signed by Cosmos Group Holdings (COSG)?
How will the US$30 million investment impact Coinllectibles™️?
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