Metaverse Blockchain company Coinllectibles™️, a wholly owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG) is pleased to announce that it will be partnering 33 Auction to launch Singapore's first art and collectibles DOT auction. The auction will take place on the evening of the Web 5.0 conference on 1 Nov 2022 at the Grand Copthorne Waterfront Hotel from 7.30pm to 9pm.
Up for auction is an exclusively curated set of 33 items – which includes paintings, sculptures as well as limited edition watches. Catering to new collectors, there will be a selection of items that have starting bids at S$500 (US$352). Targeting the seasoned collectors, there will be a wide range of collectibles with the highest starting bid at S$290,000 (US$204,225) – for a one-of-a-kind Quinting Panda watch. Some of the other notable pieces on auction include:
- Limited edition [email protected] 1000% PVC sculpture with varying designs and starting bids ranging from S$800 (US$563) to S$1,200 (US$845).
- SALVADOR DALI | Don Quixote. 54.3 x 76 cm limited edition lithograph (86 out of 300 edition) signed and dated 1956 with starting bid at S$1,500 (US$1,056).
- YUE MINJUN | Untitled. 106 x 78 cm limited edition silkscreen print on paper (23 out of 40 edition) signed and dated 2001 with starting bid at S$3,500 (US$2,465).
- YANG XUN | Pavilion Passion 5. 180 x 180 cm oil on canvas painting with starting bid at S$15,000 (US$10,563).
The full list of auction items is available at the following link: https://auctions.33auction.com/auctions/1-6KJWPU/art-nft-online-live-auction-os038.
All auction items will have an accompanying Digital Ownership Token (DOT), that will allow owners to resell their physical collectibles on the Coinllectibles MetaMall (www.Coinllectibles.Art) as well as on third party NFT marketplaces.
Commenting on the auction, Terry Lee, Head of Art at Coinllectibles, said, "When we were planning the inaugural DOT auction in Singapore, we toyed with the possibility of working with well-known auction houses from abroad. However, we want to directly add value to the Singapore and Asia art scenes. We strongly believe that bespoke auction houses – like 33 Auction, have an important role to play in the development of a vibrant regional art ecosystem. After some consideration, we concluded that 33 Auction is an ideal partner to help us achieve our desired outcome."
Founded in 1999, 33 Auction is one of Singapore's leading boutique auction houses in the Asian Contemporary Arts Scene with branches in Singapore, Indonesia and China. One of the more notable achievements saw 33 Auction selling Liu Kang's Street Scene painting – Singapore Trengganu Street for more than 80% above the estimated price during the 2019 Singapore Art Week Auction. Liu Kang was a renowned Singaporean artist known for his Balinese-themed figurative painting and that auction helped set a record price of S$183,000 (US$128,873) for his paintings.
Commenting on the collaboration with Coinllectibles, David Fu, the Director at 33 Auctions, said, "I am very intrigued with the idea of digital ownership tokens. As a director of an auction house, I can certainly see a lot of potential uses for it. One thing that caught my attention is how auction winners can immediately put the DOTs up for sale in NFT market places. If this works the way that it should, it will definitely make it easier for enthusiasts to collect arts and collectibles. In addition, it will give the whole art ecosystem access to new groups of young collectors – those who previously may not have considered investing in traditional arts and collectibles."
The inaugural arts and collectibles DOT auction by Coinllectibles & 33 Auction is a free event. However, attendees will be required to register in order to participate and bid during the auction. For more information, please refer to the information below.
Title: Coinllectibles & 33 Auction Arts & Collectibles DOT Auction 2022
Date: 1 November 2022
Address: Grand Copthorne Waterfront. 392 Havelock Road, Singapore 169663
Time: 7.30pm – 10pm
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.