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Thursday, Feb 22, 2024
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

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Cosmos Group Holdings brings digital art to the blockchain

The tech underpinning DOTs has multiple functional use cases to spaces like art, sports, watches, coin collecting and more.

digital art
Image from Morthy Jameson via Pexels

Coinllectibles, a subsidiary of Cosmos Group Holdings (OTC:COSG) is working with Singaporean artist David Chan and Marvel Digital to launch limited edition 3D art digital ownership tokens (DOTs) for the upcoming Web 5.0 conference on November 1.

The tech underpinning DOTs has multiple functional use cases to spaces like art, sports, watches, coin collecting and more. DOTS provide a digital ownership token to a tangible or intangible collectible, which confers ownership due to the immutability and provenance functions of the blockchain. In this case, Coinllectibles has chosen a three dimensional variant derived from Chan’s original art called Foreplay Perhaps.

“I am really fascinated with the idea of working with a new medium – an autostereoscopic 3D screen, for my art.  For me, this presents an exciting new frontier as it gives my collectors a new way to immerse themselves in and enjoy my art.  From the artist’s perspective, it will also challenge me to think about the spatial layout of my works as my art can now extend beyond the flat 2D plane of the screen to directly engage with the aesthetes. Based on all these considerations, I am eagerly anticipating to see how the limited edition 3D arts DOT will do,” David Chan said.

Cosmos Group Holdings operates in two different business segments: arts and collectibles and financing. The company’s arts and collectibles side runs through its Coinllectibles subsidiary. Coinllectibles uses the blockchain to provide authentication, valuation and certification. It also handles the sale and purchase, custody, security and exhibition services as well as financing to art buyers through traditional channels.

Its financing part comes in using a subsidiary licensed under Hong Kong’s Money Lenders Ordinance. The company provides unsecured personal loans to private individuals with a small portfolio of mortgage loans. At present, Cosmos is combining the two businesses by offering secured financing to art and collectibles purchasers.

Read more: Coinllectibles FDOTs make case for digital copyright

Read more: The Mugglehead technology roundup: microcap opportunities edition

Digital Art on the blockchain

The Marvel Digital team adds artistic 3D visual effects in autostereoscopic 3D format. In this case, to a digital image based on the artwork. This will make the image playable via a tablet designed and sold by Marvel.

“We are extremely excited to work with David and Marvel Digital on this limited edition launch of 3D art DOT.  As someone who has been in the arts and collectibles spaces for more than 20 years, I see that this industry is ripe of tech disruption.  From Coinllectibles’ perspective, not only do we want to disrupt how art is transacted and collected, we want to use autostereoscopic 3D technology to change how collectors can enjoy and become immersed in digital art.  Hence, I am very honoured that we are able to pull together such a renowned artist like David and Marvel Digital to showcase the very first 3D art DOT at the upcoming Web 5.0 Conference in Singapore on 1 Nov 2022,” said Terry Lee, Head of art at Coinllectibles.

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