24 August 2021, Hong Kong – Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), is pleased to announce the development of its proprietary Fusion DOT™️ as the industry’s gold standard in DOT minting.
DOTs — also known as non-fungible tokens — are one-of-a-kind, verifiable digital assets that represents real world objects like art, music, in-game items and videos. DOTs are usually bought and sold online, often with cryptocurrency, and they are generally encoded with the same underlying software as cryptocurrency. DOTs first gained mainstream attention in March 2021 when Christie’s sold an DOT by the artist Beeple for a jaw-dropping USD69 million.
Figure 1: Beeple’s collage, Everydays: The First 5000 Days, sold at Christie’s.
With the rising interest in DOTs, Coinllectibles™ became the first publicly traded blockchain company on the US OTC Markets with a mission to improve the overall experience in the art and collectibles sector by enhancing efficiency, transparency and accessibility. To achieve that, the company devoted resources to develop the proprietary Fusion DOT™️ to ensure transparency in authentication, valuation and certification for art and collectibles.
Fusion DOTs™️ are DOTs linked to, and representing ownership in, physical collectibles – a fusion of real and digital assets. The Fusion DOTs™️ developed by Coinllectibles™ are able to capture all the rights and independent valuation and ownership of physical arts and collectibles, and then securely underpinned by smart contracts stored on the blockchain.
Figure 2: Logo of the proprietary Fusion DOT™️ by Coinllectibles™️
Coinllectibles™️ prides the Fusion DOT™️ as the industry’s “Gold Standard” by having several unique characteristics. Firstly, the Fusion DOT™️ is able to embed the sale and purchase agreement that reflects the purchase with all rights and restrictions clearly detailed within it. Secondly, the Fusion DOT™️ is also able to store the bailment terms governing the rights to possession whilst the underlying asset remains with Coinllectibles™️. Should there be a change of hands of the asset, the Fusion DOT™️ is able to write 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™️. An ownership title deed will then be written into the description of the Fusion DOT™️, forming the unequivocal identification file of the underlying asset, whose ownership is reflected in the title deed.
Commenting on the Gold Standard Fusion DOT™️, Dr Herbert Lee, Chairman of Board at CoinllectiblesTM said, “Coming from the perspective of an art collector, I value authenticity and provenance for my art pieces. Similarly, I expect DOT collectors to feel the same as well and that is why Coinllectibles sets out to differentiate our DOTs from the rest, by offering the “Gold Standard” and making sure artists and collectors achieve enhanced value creation and preservation in the growing DOT market.”
“Anyone who’s interested in our Fusion DOT™️s or their launch should register their interest on our website or join our Telegram community. Invitations will be on a first come first served basis,” added Dr Lee.
For pre-registration of interest for Fusion DOT™️, please visit www.Coinllectibles.Art or join the CoinllectiblesTM Telegram Channel at https://t.me/Coinllectibles.
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 DOTs™️, 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 DOTs™️ 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.
Coinllectibles™️ Fusion DOT™️ - stick with the Gold Standard
Coinllectibles™️ prides the Fusion DOT™️ as the industry “Gold Standard”. Being a Gold Standard, a Fusion DOT 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 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™️.