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Thursday, Jun 1, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Coinllectibles FDOTs make case for digital copyright

The company uses the Polygon chain to mint the FDOTs in an attempt to shore up some good will by reducing its environmental impact.

Photo by Markus Winkler on Unsplash

Coinllectibles, a subsidiary of Cosmos Group Holdings (OTC:COSG) is working with internationally recognized sculptor Jonathan Wylder on Fusion Digital Ownership Tokens (FDOTs).

The collection includes six of Jonathan’s pieces, including “Tessa the Sleeping Mouse,” which is a life size limestone carving. The latest project continues from recent sales of Fusion DOTs in recent works, including Coinllectibles FDOT Guanyin Vase in Altar Red Glaze of Qing Dynasty, which went for USD $100,000, as well as a series of photographic Fusion DOTs sold with Spink auction house.

“My work takes a long time to produce where I often need intense and long periods with the subject to achieve the finished sculpture. I can only produce a limited number of pieces in this art form. I am very excited about the opportunity to work with Coinllectibles and their DOT technology which I hope will increase my engagement with new communities of people to enjoy my work,” said Wylder.

Coinllectibles is a tech company involved in the collectibles industry with a specific focus on rare memorabilia and art that actually have intrinsic value in the real world, whether it’s tangible or intangible in nature. The company uses blockchain, marketplace, metaverse and DOT technologies to enter and potentially disruptive the collectibles industry.

Cosmos is a business group operating in the arts and collectibles and financing verticals. The company uses Coinllectibles to provide authentication, valuation and certification services, sale and purchase, hire purchase, financing, custody, security and exhibition services to art buyers through traditional channels, while leveraging blockchain tech to create DOTs.

There are significant questions to be asked regarding the efficacy of blockchain technology, especially during the most recent economic downturn. Typically, people don’t buy art during bear markets and definitely not cryptographically-verified art located on a blockchain, but the tech underpinning DOTs has multiple functional use cases to spaces like art, sports, watches, numismatics and more.
Technically, what DOTs do is provide a digital ownership token to a tangible or intangible collectible, which confers ownership due to the immutability and provenance functions of the blockchain. Except there aren’t any laws or regulation regarding recognizing copyright and the blockchain quite yet, making this something of a curious venture.

The company uses the Polygon chain to mint the FDOTs in an attempt to shore up some good will by reducing its environmental impact. Polygon is an eco-friendly blockchain using the proof-of-stake consensus mechanism, which means it doesn’t need an entire continent’s worth of electricity to function like some proof-of-work chains do.

The collection includes six sculptures, including Tessa The Sleeping Muse, Angel Awakening, Ballerina Fiona Chadwick, Ballerina Alla, Talbot Dogs, and The Mermaid. Tessa The Sleeping Muse, was originally sold some years ago, took Jonathan approximately two years to complete and is widely considered his finest carving to date.

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