SINGAPORE, November 15, 2022 /PRNewswire/ — Following the conclusion of the inaugural Web 5.0 conference at Singapore on November 1, 2022Key executive personnel at metaverse blockchain company Coinllectibles™️, a wholly owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), comment on the conference and the focus on real-world applications of blockchain in the development of the Centralized Web 2.0 and decentralized Web 3.0 ecosystems.
Toby O’ConnorCEO of Coinlectibles shared, “The event aimed to add insights to the Centralized Web 2.0 and Decentralized Web 3.0 developments. We steered the discussion around a Web 5.0 that contains elements of Centralized and De-fi and provides interoperability between applications and platforms where users enhanced user experience, control and ownership to improve the way we live.There were also many practical and fun direct applications of technology in the fields of art, collectibles, ESG and film.
Young Chai Koktechnical director of Coinllectibles added, “Coinllectibles has always been focused on using blockchain technology to provide legally binding digital ownership token (DOT) to a tangible or intangible collectible. The strength of blockchain lies in its immutability and transparency, so the digital asset can be freely shared and distributed while preserving ownership through a ledger system. Along with Coinllectibles’ DOTs, this is a functional use case, as blockchain can help maintain data integrity and provide collectibles owners with provenance. I was thrilled to be able to meet with industry players at the Web 5.0 conference to brainstorm and share ideas on how we can further leverage blockchain to further disrupt and improve the collectibles industry.”
On aspects of how Digital Property Tokens (DOT) may impact the legal industry, Joshua ChuCoinllectibles Chief Risk Officer summarized the main points of discussion during the conference as follows: “The legal roundtable brought together a good mix of practicing lawyers, dispute resolution specialists as well as former leading regulators. We had a very fruitful discussion on how smart contracts and tokenization can improve commerce, dispute resolution and how web 2.0 and web 3.0 technologies can potentially address and solve the inefficiencies of modern paper-based legal practices. With the adoption of the blockchain technology in the legal sector, the future of legal practice is boundless, turning into value for our clients I would especially like to thank the Deputy Secretary General Mr. Eric Ng of HKIAC, Mr. Louis Lee and Mrs. Sally Lin of Prosynergie, Mr. Louis CheungMr. Moses Park and Mr. Ohoon Kwon for their outstanding industry knowledge during our session. »
The Web 5.0 Conference was also a platform for presenting NFT art, both in its physical form and in 3D format on an autostereoscopic tablet without glasses and a 3m by 3m video wall. “It was definitely an eye-opening experience for our conference attendees to be able to witness for themselves the phy-digital asset merger that Coinllectibles has been doing for the past 1 year. I’m also proud that we showcased the work of some of them. artists with whom we collaborate closely, such as David Chan and Umibaizurah, and launched that of Singapore first DOT art and collectibles auction in partnership with 33 Auction. All in all, it was a very good first conference to establish our presence here in Singapore and I am very excited about the pipeline of other events and conferences we will be attending in the time to come,” said Terry Leeartistic director at Coinllectibles.
For more information on the highlights of Web 5.0 conferencing, Coinllectibles and its DOT offerings, please visit www.coinllectibles.art.
This press release contains forward-looking statements. All statements other than statements of historical fact are forward-looking statements, which are often indicated by words such as “anticipate”, “believe”, “could”, “estimate”, “expect”, “target”. , “intend”, “look forward to”, “may”, “plan”, “potential”, “predict”, “project”, “should”, “fly”, “would” and similar expressions. These forward-looking statements may include, but are not limited to, statements regarding future business activities, including expansion into the decentralized finance space. These forward-looking statements are neither promises nor guarantees and involve substantial risks and uncertainties. Among the factors that could cause actual results to differ materially from those described or projected herein are the uncertainties associated with operating a business in Singapore and hong kong, risk of PRC government interference, ability to compete, that financial resources may not last as long as expected, and that COSG is a holding company that may not realize the expected benefits of DOTs offered by Coinllectibles™️. A more detailed list and description of these risks, uncertainties and other risks can be found in COSG’s regulatory filings with the United States Securities and Exchange Commission, including its Annual Report on Form 10-K filed on April 15, 2022. Existing and potential 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), sale and purchase, hire-purchase, financing, custody, security and exhibition services. (CSE) to art buyers through traditional channels, as well as leveraging blockchain technology through the creation of Digital Property Tokens (DOT). With licensed subsidiaries that of Hong Kong Money Lenders Ordinance, the group currently primarily offers unsecured personal loans to individuals, with a small portfolio of mortgages. The group integrates the two business segments by offering secure financing services to potential art and collectibles buyers to provide a unique art and collectibles buying and financing experience.
About the company – Coinllectibles™️
Coinllectibles™️ is a technology company that supports the collectibles industry by focusing on rare memorabilia and works of art 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 improve the real-world collectibles industry. The technology behind DOTs (digital owner tokens) has multiple functional use cases that Coinllectibles™️ applies to areas such as art, sports, watches, numismatics, limited edition toys, limited edition fashion clothes and sneakers. DOTs have the power to transform our societies and certain areas may be subject to regulations. Coinllectibles™️ uses DOT technology only to provide legally binding digital property token (DOT) to a tangible or intangible collectible.
About Coinllectibles™️ Fusion point
Coinllectibles™️ is proud of the Fusion DOT as the industry’s “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 striking the Fusion DOT™️, of the underlying asset at a fair value with all rights and restrictions clearly detailed, (2) lease terms governing the rights of possession while the underlying asset remains with Coinllectibles™️, (3) a deed of transfer reflecting the transfer of ownership of the underlying asset (with all rights and restrictions) by the transferor to the holder of the Fusion DOT™️, (4) the title of ownership recorded in the description of the Fusion DOT™️ and (5) the unequivocal identification file of the underlying asset, the ownership of which is reflected in the legal title represented by the Fusion DOT™️.
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SOURCECosmos Group Holdings Inc.