Tag Archives: ART

PR Newswire

Artmarket.com: Ahead of Art Basel Miami 2021, Art Market Gender Parity is Still Wanting; But Could NFTs Change That?

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PARIS, Dec. 1, 2021 — Despite the big result for an exceptional (and relatively small) painting by Frida Kahlo, the Mexican artist was still only 18th in Artprice’s ranking of artists by auction turnover for the month of November 2021, behind 17 male artists. And while this trend was completely reversed for the generation of artists born after 1985 (the 8 top-selling signatures were all young women!), we ask: what is the gender parity situation on the NFT market?

Frida Khalo - Courtesy of Organ Museum / Abode of Chaos
Frida Khalo – Courtesy of Organ Museum / Abode of Chaos

thierry Ehrmann, CEO and Founder of Artmarket.com and its Artprice department: "The creation of the NFTs market should be an opportunity to achieve some sort of gender parity on the art market. The technology is revolutionizing an entire industry, as shown by Art Basel Miami Beach which opens its doors this year to Tezos ("home to one of the fastest growing NFT artist communities") and Scope Miami which has decided to issue its VIP invitations in the form of non-fungible tokens".

"World of Women"

It’s only a few years since NFTs first appeared on the web, and only a few months since the general public discovered non-fungible digital tokens; but some have already commented the lack of a female presence in this new world. Several projects have nevertheless been developed to try to correct this imbalance, starting with a collection of exclusively female PFPs (profile pictures) by World of Women: https://opensea.io/collection/world-of-women-nft

"World of Women was created to bring more diversity and inclusiveness to the NFT space while bridging the gap between collectibles and single edition art worlds".

Considering the traditional art market’s long-standing gender disparity, fears of a male-dominated digital world seem perfectly rational. New York’s prestige sales in November – driven by the Macklowe Collection at Sotheby’s and the Cox Collection at Christie’s – were once again dominated by the likes of Warhol, Van Gogh, Picasso, Monet, Twombly, Rothko, Giacometti, Richter, etc.

But things are changing…

Frida Kahlo was the top-selling female artist at the November auctions this year, but she was behind eighteen men. A study published by Ken Bromley Art Supplies in 2020 revealed that the Mexican painter ranked second among the world’s most searched artists on Google (first in 29 countries) behind Leonardo Da Vinci.

Diego y yo (1949) is one of the most important paintings by Frida Kahlo that doesn’t belong to a museum. On 16 November 2021 it fetched $34 million at Sotheby’s, 22 times its previous value in 1990. Although it was a very impressive result for the Mexican artist, Frida Kahlo is still not competing with Andy Warhol, whose signature generated $165 million at the November 2021 prestige auctions.

Top 10 female artists at auction in November 2021

Global ranking – Artist – Auction Turnover

18th – Frida KAHLO (1907-1954):                          

$34,883,000

28th – Agnes MARTIN (1912-2004):                       

$21,765,500

30th – Cecily BROWN (1969- ):                               

$20,706,150

32nd –  Joan MITCHELL (1926-1992):                   

$20,053,500

41st – Georgia O’KEEFFE (1887-1986):                  

$14,561,300

52nd – Yayoi KUSAMA (1929-):                             

$9,198,600

53rd  – Lee BONTECOU (1931-):                            

$9,176,500

58th – Helen FRANKENTHALER (1928-2011):    

$8,177,100

59th – Cindy SHERMAN (1954-):                           

$8,162,100

62nd – Tamara DE LEMPICKA (1898-1980):         

$7,896,300

Over the past decade, female artists under 40 have nevertheless established themselves as the most successful artists of their generation on the auction market. In 2013 – 2014, collectors became enamoured with the work of Tauba Auerbach (1981) represented by the Paula Cooper gallery. This trend has gradually intensified to the point where the turnover ranking of artists born after 1985 (for November 2021) is heavily dominated by female painters.

Top 10 artists born after 1985 at auction in November 2021

Global ranking – Artist – Auction turnover

1st –  Avery SINGER (1987-):                                  

$4,638,900

2nd – Toyin Ojih ODUTOLA (1985-):                     

$2,235,900

3rd – Flora YUKHNOVICH (1990 -):                     

$1,951,100

4th – Jadé FADOJUTIMI (1993-):                           

$1,053,400

5th – Christina QUARLES (1985-):                          

$948,000

6th – Jordan CASTEEL (1989-):                               

$806,500

7th – Issy WOOD (1993-):                                        

$768,750

8th – Allison ZUCKERMAN (1990-):                      

$636,600

9th – Ismail ISSHAQ (1989-):                                  

$589,300

10th – Oscar MURILLO (1986-):                             

$432,900

Copyright 1987-2021 thierry Ehrmann www.artprice.com – www.artmarket.com

About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Discover Artmarket and its Artprice department on video: www.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.

See certified biography in Who’s who ©:
Biographie_thierry_Ehrmann_2022_WhosWhoInFrance.pdf

Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 770,000 artists.

Artprice by Artmarket, the world leader in information on the art market, has set itself the ambition through its Global Standardized Marketplace to be the world’s leading Fine Art NFT platform.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 5.4 million (‘members log in’+social media) users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).

Artmarket with its Artprice department, has been awarded the State label "Innovative Company" by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.

Artprice’s 2020/21 Contemporary Art Market Report by Artmarket.com:
https://www.artprice.com/artprice-reports/the-contemporary-art-market-report-2021

Artprice by Artmarket’s 2020 Global Art Market Report published in March 2021:
https://www.artprice.com/artprice-reports/the-art-market-in-2020

Index of press releases posted by Artmarket with its Artprice department:
serveur.serveur.com/press_release/pressreleaseen.htm

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

www.facebook.com/artpricedotcom/ (over 5,4 million followers)
twitter.com/artmarketdotcom
twitter.com/artpricedotcom

Discover the alchemy and universe of Artmarket and its artprice department https://www.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

L’Obs – The Museum of the Future: https://youtu.be/29LXBPJrs-o
www.facebook.com/la.demeure.du.chaos.theabodeofchaos999

(4.4 million followers)
https://vimeo.com/124643720

Contact Artmarket.com and its Artprice department – Contact: Thierry Ehrmann, ir@artmarket.com 

 

PR Newswire

Come to Dalian to experience “New Future”

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DALIAN, China, Nov. 29, 2021 — The experiential variety show "Brave New Future" was premiered on Nov. 19, 2021. The short video of the "space-time dialogue" between the guest and his bionic robot has been widely concerned by the audience. People focused their attention on the EX Future Science and Technology Museum in Jinshitan (also known as Golden Pebble Beach), Dalian, a coastal city of Northeast China’s Liaoning Province. Earlier, the museum’s Einstein bionic robot was impressive at the 2021 World Robot Conference in Beijing.

The EX Future Science and Technology Museum in Dalian Jinshitan
The EX Future Science and Technology Museum in Dalian Jinshitan

The EX Future Science and Technology Museum is located in Jinshitan Science and Technology Expo Square in Dalian, which is composed of the Dalian Jinshi Wax Image Hall and the EX Future Science and Technology Museum, with an exhibition area of nearly 20,000 square meters, according to Dalian Jinshitan National Tourism Resort Administrative Committee. The museum integrates high-tech achievements such as bionic humanoid robots, 5G cloud robots, interactive science and technology products, etc. Many application scenarios of artificial intelligence in future life are simulated, where tourists come into close contact with future-oriented high and new technologies, visit the research and development and production process of bionic robots, and experience an unprecedented future life of man-machine symbiosis. The whole museum adopts robot one-stop service, including bionic experimental module, artificial intelligence robot research center, bionic robot manufacturing center and other scientific and technological scenes.

At present, the EX Future Science and Technology Museum is popularizing scientific knowledge through the combination of scientific, intellectual and interesting exhibition content and immersive experience, cultivate visitors’ scientific thinking imperceptibly and realize the organic integration of science, culture and art.

Image Attachments Links:

Link: http://asianetnews.net/view-attachment?attach-id=408991
Caption: The EX Future Science and Technology Museum in Dalian Jinshitan

PR Newswire

Oriental Culture Holding LTD Announces First Half Year of 2021 Unaudited Financial Results

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HONG KONG, Nov. 2, 2021 — Oriental Culture Holding LTD. ("OCG" or the "Company") (NASDAQ: OCG), a leading online provider of collectibles and artwork e-commerce services, today announced its unaudited financial results for the six months ended June 30, 2021.

First Half Year of 2021 Financial Highlights

  • Total revenues were approximately $24.5 million for the six months ended June 30, 2021, representing an increase of 891.1 % compared with the total revenues of approximately $2.5 million for the six months ended June 30, 2020.
  • Gross profit was approximately $23.1 million for the six months ended June 30, 2021, representing an increase of 1,011.2% compared with approximately gross profit of $2.1 million for the six months ended June 30, 2020.
  • Gross margin was 94.3% for the six months ended June 30, 2021, representing an increase of 10.2 % points compared with a gross margin of 84.1% for the six months ended June 30, 2020.
  • Income from operations was approximately $9.7 million for the six months ended June 30, 2021, representing an increase of 3,750.6 % compared with income from operations of approximately $0.3 million for the six months ended June 30, 2020.
  • Net income was approximately $10.1 million for the six months ended June 30, 2021, representing an increase of 2,601.8 % compared with net income of approximately $0.4 million for the six months ended June 30, 2020.

Mr. Yi Shao, Chief Executive Officer of the Company, commented "We are very excited to report that our revenues in the first half of 2021 increased by 891.1% year over year to $24.5 million and our net income in the first half of 2021 increased by 2,601.8% year over year to $10.1 million. We have seen a strong first half of this year comparing to the same period of last year as the art and collectible market has bounced back and our business operation has returned to normal as COVID-19 pandemic has mostly been under control in China. During the first half of 2020, our business and operation suffered material negative impact by the outbreak of COVID-19 with the closure of our offices, especially the closure of our warehouse which prevented us from taking in new collectibles and artwork products as well as the traffic control and logistics restrictions in China during the outbreak which delayed delivery of collectibles and artwork from clients for appraisal and listing on our platform."

Mr. Shao continued: "In addition, economic activities are returning to normal and new measures are introduced to stimulate domestic consumption in China which have strengthened art and collectible traders’ confidence. Internationally, the positive global financial market, encouraging signs of economic recovery, and continuing government stimulus measures, fueled investment market, including the investment in arts and collectibles. The rapid increase in new customers and our marketing activities helped driving up the number of new listings, volume of transactions as well as our revenue and profit." 

Results of Operations

The tables in the following discussion summarize our unaudited interim condensed consolidated statements of operations for the periods indicated. The operating results in any period are not necessarily of the results that may be expected for any future period.

For the Six Months Ended
June 30,

Variance

2021

2020

Amount

%

(Unaudited)

(Unaudited)

Net Revenues

$

24,331,668

$

2,373,250

$

21,958,418

925.2%

Net Revenues – related parties

129,071

94,713

34,358

36.3%

Cost of revenues

(1,397,828)

(392,424)

(1,005,404)

256.2%

Gross profit

23,062,911

2,075,539

20,987,372

1011.2%

Operating expenses

(13,339,262)

(1,823,019)

(11,516,243)

631.7%

Income from operations

9,723,649

252,520

9,471,129

3,750.6%

Other income

356,504

120,567

235,937

195.7%

Income before income taxes

10,080,153

373,087

9,707,066

2,601.8%

Provision for income taxes

–

–

–

–

Net income

10,080,153

373,087

9,707,066

2,601.8%

Foreign currency translation adjustment

(69,596)

(177,875)

108,279

(60.9)%

Comprehensive income

$

10,010,557

$

195,212

9,815,345

5,028.0%

Weighted average number of ordinary shares outstanding –
   basic and diluted

20,444,712

15,190,000

5,254,712

34.6%

Basic and diluted earnings per share

$

0.49

$

0.02

$

0.47

1,907.4%

Revenues:

The following table sets forth the principal components of our net revenues by amounts and percentages of our net revenues for the periods indicated:

For the Six Months Ended June 30,

Variance

2021

2020

Amount

%

(Unaudited)

(Unaudited)

Revenues

%

Revenues

%

Listing services fees (1)

$

4,487,953

18.3

$

466,668

18.9

$

4,021,285

861.7%

Transaction fee (2)

16,265,107

66.5

1,353,532

54.8

14,911,575

1101.7%

Marketing service fees (3)

3,416,630

14.0

387,407

15.7

3,029,223

781.9%

Other revenues(4)*

291,049

1.2

260,356

10.6

30,694

11.8%

Total operating revenues, net

$

24,460,739

100.0

$

2,467,963

100.0

$

21,992,776

891.1%

 

* Including $129,071 and $94,713 from related parties for the six months ended June 30, 2021 and 2020, respectively

(1) Listing service fees: Our performance obligation is to provide listing on our platform. Listing service fees are calculated based on a percentage of the listing value of collectibles and artwork. Listing value is the total offering price of the collectible, artwork or commodities when the ownership units are initially listed on our trading platform. We utilize an appraised value as a basis to determine the appropriate listing value for each piece of collectible or artwork, or portfolio of collectibles or artwork or commodities. In general, listing service fees are recognized upon completion of our performance obligation. Our standard listing fees range from 2.3% to 5.3% for artwork and collectibles and 1% to 6% for commodities of the initial listing value, the rate is dependent on the type of listings and is negotiated on a case by case basis. The average listing period is around three months.

Total listing service fees increased by approximately $4.0 million or 861.7% from $466,668 for the six months ended June 30, 2020 to $4,487,953 for the same period in 2021. The increase was due to large amount of newly listed artwork and collectibles which increased in the listing value and listing service fees. The number of types in collectibles/artwork and commodities were successfully listed on our platforms increased from 25 for the six months ended June 30, 2020 to approximately 187 for the six months ended June 30, 2021. Our total listing value of listed collectible/artwork increased from approximately $0.4 billion during the six months ended June 30, 2020 to approximately $1.8 billion for the same period in 2021.

(2) Transaction fee revenue: Transaction fee revenue is generally calculated based on the transaction value of collectibles or artwork per transaction for our services to facilitate the trading transactions. Transaction value is the dollar amount of the purchase and sale of the ownership units of the collectibles or artwork after they are listed on our platform. We typically charge from 0.15% to 0.3% of the transaction value per transaction from both the purchase and sale side of the transaction resulting in an aggregate of 0.3% to 0.6% of total transaction value. Sometimes, we charge a predetermined transaction rate, which is negotiated on a case by case basis, for selected traders with specific large transactions. Transaction fee revenue also includes predetermined monthly transaction fees, which are negotiated case by case for selected traders with high trading volume, and is recognized and earned over the specified service period.

Total transaction fee revenue increased by approximately $14.9 million or 1,101.7% from $1,353,532 for the six months ended June 30, 2020 to $16,265,107 for the same period in 2021. The increase was primarily due to the increasing number of traders that participated in trading on the platform as our customers and potential customers increased their expenditures and investment because of recovering economic activities from the pandemic in China. Our active traders increased from 27,020 for the six months ended June 30, 2020 to 116,709 active traders for the six months ended June 30, 2021. The increase in active trader led to increase in number of transactions. Our number of transactions increased from approximately 16.8 million for the six months ended June 30, 2020 to approximately 94.5 million for the same period in 2021. During the six months ended June 30, 2021 and 2020, total transaction value amounted to approximately $10.8 billion and $847 million respectively. Our current system could support up to 120,000 active  traders with over one billion transactions.

(3) Marketing service fees: Marketing service fee revenue is a fee that we charge for promoting and marketing our customers’ collectibles or artwork. The services include assisting our customers in connection with their listings and trading of their collectibles/artwork on our platform, which mainly include consulting and supporting services of the marketability for the collectibles/artwork; assessing their market value and market acceptance for the collectibles/artwork; and assisting in the application and legal protection required for the customers’ collectibles/artwork to be approved for listing on our platform. For marketing service contracts in which the related performance obligations can be completed within a short period of time, the Company recognizes the related revenue upon the completion of its performance obligations.

Marketing service agreements also includes providing promotion services for customers’ items as where to place ads on well-known cultural and/or art exchange websites in China, to provide online and offline marketing services including cooperation with auction houses and participate in industry-related exhibitions and fairs. The marketing service fees are charged on various fixed fee basis, which are based on the type of the listing session that the customer applies for and whether the customer has listed and sold its collectible on other platforms before, and they were not tied to the type or value of the underlying collectible/artwork. Marketing service contracts and fees are recognized upon the completion of all performance obligations. 

Marketing service fees increased by approximately $3.0 million or 781.9% from $387,407 for the six months ended June 30, 2020 to $3,416,631 for the same period in 2021. The increase was due to increase of types of collectibles/ artwork we promoted for customers. During the six months ended June 30, 2021 and 2020, 187 and 25 types of collectibles/artwork were successfully listed on our platforms, of which we promoted 51 and 4 types of newly listed collectibles and artwork for our customers, respectively.  

(4) Other revenues: Other revenues primarily includes services fees for IT technical support and revenue from termination of a cooperation agreement. IT technical support fee is negotiated on a case by case basis and is recognized when the related services have been performed based on the specific terms of the contract. Total other revenues increased by approximately $31,000 or 11.8% from $260,356, including $94,713 from providing technological services to our related parties for the six months ended June 30, 2020 to $291,049, including $129,071 from providing technological services to our related parties for the same period in 2021. In addition, we recognized approximately $69,000 other revenue when a third party terminated a cooperation agreement with us in developing an online platform for niche market. The deposit with us is recognized as revenue as we have no further obligation under the contract to develop the platform.

Cost of Revenues

Cost of revenues increased by approximately $1.0 million or 256.2% from $392,424 for the six months ended June 30, 2020 to $1,397,828 for the same period in 2021. The increase in cost of revenues was primarily due to the increase in storage fees of approximately $0.5 million due to the increase in the listing value of products. The warehouse storage fees were charged based on certain percentage of listing value of products. The increase in cost of revenues was also due to the increase in salary, cloud services fees and outside service fees for referral of products to the Company of approximately $0.5 million.

Gross Profit

Gross profit for the six months ended June 30, 2021 and 2020 amounted to $23,062,911 and $2,075,539, respectively. Gross profit increased by approximately $21.0 million or 1011.2%.  Gross margin for the six months ended June 30, 2021 and 2020 were 94.3% and 84.1%, respectively. The increase in gross margin was due to increase in higher transaction fee revenue when the cost (mainly salary and cloud services fees) generally did not increase proportionately with the increase in revenue.

Selling and Marketing Expenses

Selling expenses increased by approximately $9,387,751 or 1,104% from $850,462 including $57,935 to related party for the six months ended June 30, 2020 to $10,238,213 including $341,952 to related party for the same period in 2021. The increase was primarily due to the increase in marketing expenses of approximately $8,930,000 as we paid more commission to third parties to get more referral of traders. In addition, advertising expense with Kashi Jinwang Art Purchase E-commerce Co., Ltd.("Jinwang"), a related party, increased about $0.3 million due primarily to the increase in initial listing value of products advertised. Our marketing expenses was charged based on 1.5% of initial listing value of products advertised on the third party’s website. We expect our selling and marketing expenses to increase further as we recover from COVID-19 and we will continue to promote our products listed and getting more referral for traders.

General and Administrative Expenses

Our general and administrative expenses increased by approximately $2,128,492 or 219% from $972,557 including $27,059 to related party for the six months ended June 30, 2020 to $3,101,049 including $78,716 to related party for the same period in 2021. The increase in our general and administrative expenses was primarily due to the increase in professional fees and consulting fee of approximately $1.5 million, which included approximately $0.3 million for professional fees such as legal, audit, insurance and public relations as we became a public company in December 2020. The increase was also due to consulting fee for development for our new business of approximately $1.2 million including overseas business development and development in digital assets. The rest of the increase came mainly from increase in employee salary/benefits, office rent which totaled approximately $0.6 million. We expect our general and administrative expenses, including but not limited to, compensation, rent, depreciation and amortization to continue to increase in the foreseeable future as our business grows further.

Other Income

Total other income increased by approximately $0.2 million, or 195.7%, from $120,567 for the six months ended June 30, 2020 to $356,504 for the same period in 2021. Other income consists mainly of gain from short-term investment, interest income and other income. The increase was mainly due to the receipt of approximately $0.2 million of government grant for our business development.

Provision for Income Taxes

Our provision for income taxes amounted to nil for both the six months ended June 30, 2020 and 2021, respectively. We did not have any income taxes due to our preferential tax rate reduction from our profitable variable interest entities (VIEs), which were formed and registered in Kashi in Xinjiang Provence, China and they are not subject to income taxes for 5 years ending in 2023. We also have provided 100% allowance on net operating losses from our VIEs which incurred losses.

Net Income

Our net income increased by approximately $9.7 million, or 2,601.8%, from $373,087 for the six months ended June 30, 2020 to $10,080,153 for the same period in 2021. Such change was the result of the combination of the changes as discussed above.

Basic and diluted earnings per share

Basic and diluted earnings per share were $0.49 and $0.02 for the six months ended June 30, 2021 and 2020, respectively, representing a 1,907.4% increase.

Cash and cash equivalents, short-term investments

As of June 30, 2021, we had cash and cash equivalents as well as short-term investments in an aggregate amount of $45.1 million, compared to $25.1 million as of December 31, 2020.

Leases

The Company adopted ASU 2016-02 on January 1, 2021 and recognized operating lease liabilities of approximately $21,000, with corresponding right-of-use assets of approximately $23,000 based on the present value of the remaining minimum rental payments for existing operating leases with a remaining term longer than 12 months.

About Oriental Culture Holding LTD

Oriental Culture Holding LTD is an online provider of collectibles and artwork e-commerce services, which allow collectors, artists, art dealers and owners to access an art and collectibles trading market with a wider range of collectibles and artwork investors. Through its subsidiaries in Hong Kong, the Company provides trading facilitation for individual and institutional customers of all kinds of collectibles, artwork and certain commodities on its online platforms, as well as online and offline integrated marketing, storage and technical maintenance service to customers through its VIE and the subsidiaries of its VIE in China. For more information about the Company, please visit: www.ocgroup.hk.

Safe Harbor Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following:  the Company’s goals and strategies; the Company’s future business development; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

IR Department
Email: IR@ocgroup.hk
Phone: +852- 21103909

 

 

ORIENTAL CULTURE HOLDING LTD AND SUBSIDIARIES

UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND
COMPREHENSIVE INCOME

For the Six Months
Ended
June 30,

2021

2020

(Unaudited)

(Unaudited)

OPERATING REVENUES:

Net revenues

$

24,331,668

$

2,373,250

Net revenues – related parties

129,071

94,713

Total operating revenues

24,460,739

2,467,963

COST OF REVENUES:

Cost of revenues

(789,302)

(274,477)

Cost of revenues – related party

(608,526)

(117,947)

Total cost of revenues

(1,397,828)

(392,424)

GROSS PROFIT

23,062,911

2,075,539

OPERATING EXPENSES:

Selling and marketing

(9,896,261)

(792,527)

Selling and marketing – related party

(341,952)

(57,935)

General and administrative

(3,022,333)

(945,498)

General and administrative – related parties

(78,716)

(27,059)

Total operating expenses

(13,339,262)

(1,823,019)

INCOME FROM OPERATIONS

9,723,649

252,520

OTHER INCOME

Gain from short-term investment

45,466

30,445

Interest income

87,251

84,156

Other income, net

223,787

5,966

Total other income, net

356,504

120,567

INCOME BEFORE INCOME TAXES

10,080,153

373,087

PROVISION FOR INCOME TAX

–

–

NET INCOME

$

10,080,153

$

373,087

OTHER COMPREHENSIVE LOSS

Foreign currency translation adjustment

(69,596)

(177,875)

COMPREHENSIVE INCOME

$

10,010,557

$

195,212

WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES

Basic and diluted

20,444,712

15,190,000

EARNINGS PER SHARE

Basic and diluted

$

0.49

$

0.02

 

 

ORIENTAL CULTURE HOLDING LTD AND SUBSIDIARIES

UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

June 30,

December 31,

2021

2020

(Unaudited)

ASSETS

CURRENT ASSETS

Cash and cash equivalents

$

42,631,671

$

24,036,174

Short-term investment

2,426,184

1,056,286

Accounts receivable, net

667,331

402,428

Account receivable – related parties

21,827

–

Other receivables and prepaid expenses

1,418,488

199,515

Deposit

–

13,333,538

Total current assets

47,165,501

39,027,941

PROPERTY AND EQUIPMENT, NET

731,755

372,215

OTHER ASSETS

Prepayment

928,778

–

Escrow

600,000

600,000

Investment

540,990

535,617

Right-of-use assets

23,050

–

Intangible assets, net

479,496

572,992

Total other assets

2,572,314

1,708,609

Total assets

$

50,469,570

$

41,108,765

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts payable

$

3,120,176

$

4,831,394

Accounts payable – related parties

106,263

1,229,381

Deferred revenue

3,109,528

243,355

Other payables and accrued liabilities

330,878

1,043,383

Lease liabilities

20,995

–

Other payables – related parties

6,707

7,312

Taxes payable

195,220

184,694

Total current liabilities

6,889,767

7,539,519

Total liabilities

6,889,767

7,539,519

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS’ EQUITY

Preferred shares, $0.00005 par value, 100,000,000 shares authorized, no shares
  issued and outstanding as of June 30,2021 and December 31, 2020, respectively

–

–

Ordinary shares, $0.00005 par value, 900,000,000 shares authorized,

30,054,712 shares issued, 20,444,712  shares outstanding

as of June 30, 2021 and December 31, 2020, respectively

1,503

1,503

Treasury shares, at cost, 9,610,000 shares issued

as of June 30,2021 and December 31, 2020, respectively

(481)

(481)

Additional paid-in capital

18,884,992

18,884,992

Statutory reserves

112,347

112,347

Retained earnings

23,727,923

13,647,770

Accumulated other comprehensive income

853,519

923,115

Total shareholders’ equity

43,579,803

33,569,246

Total liabilities and shareholders’ equity

$

50,469,570

$

41,108,765

 

 

Related Links :

http://www.ocgroup.hk

PR Newswire

Disruptive Streaming Service, Vabble, Listed on Mandala Exchange, Powered by Binance Cloud

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THE SEYCHELLES, Sept. 28, 2021 — Mandala Exchange, powered by Binance Cloud, is thrilled to announce Vabble as its first premiere listing. VAB will be the first project listed on Mandala Exchange outside of the Binance ecosystem. VAB will be listed alongside 1,000+ trading pairs available on Mandala that share liquidity, order books, and security with Binance. Vabble plans to merge the best aspects of in-theater experience for movie goers with a state of the art production launchpad for scriptwriters, producers and filmmakers to fund and produce content on a global scale.

"Filmmakers want to write, direct, and produce the content that they desire but are held back by traditional financing models. Vabble has created a disruptive, game-changing approach to traditional project financing. Vabble will democratize film financing to the tune of multimillions, eventually billions, by leveraging cryptocurrency liquidity and creating an entirely new creative marketplace where emerging and established filmmakers can thrive!" – John C. Hall Former EVP, Universal Pictures & Partner, Cardinal Trio Pictures.

What is Vabble?

The Vabble platform is a media consumption experience unlike anything available today with exclusive content for users; providing subscribers with a unique collection of films, documentaries, and series to choose from. Users can create invite-only co-watching experiences to replicate the magic of the theater without leaving home. The result is a unique shared viewing experience that connects fans of the same content on a global scale.

Our economy is designed to give directors and writers control over their work and the opportunity to generate revenue directly from it. This includes direct P2P payments between the users and content owners, built-in NFT marketplaces that studios can use to auction off promotional materials related to their work, and even live AMAs with stars of released films, intimately connecting them with their audiences.

Finally, governance! Vabble Production Launchpad, a go-to funding source to help writers and directors get their works off the ground, enables the global community to invest in one of the largest sectors in the world, film. All while providing a de-capitalization of the outdated film and streaming industry. Vabble aims to redefine the standard SVOD revenue sharing model with their VAB economy.

https://www.vabble.com/

What is Mandala Exchange?

Mandala is the first privately owned exchange powered by the Binance Cloud platform. Mandala aims to be the most trusted digital asset exchange on the market. This allows their users to trade cryptocurrency with confidence on an industry-leading exchange platform with access to the largest liquidity pool in the world and fees as low at 0.05%. Mandala currently has over 1,000+ active trading pairs with full Binance liquidity and security, making Mandala one of the largest exchanges on the market today.

https://www.mandala.exchange/

Media contact: pr@mandala.exchange

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PR Newswire

The First Performance Art NFT Exhibition Of EchoX, A Million-dollar Vision On Its Debut, Overturns The Game

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TAIPEI, Sept. 17, 2021 — Asia’s New NFT curating and management platform EchoX is officially launched today along with an exciting announcement of its very first NFT performance art called "We Are What We Eat", which is a derivative work from the 2021 Ars Electronica Festival’s "Earth Tour: Taste Soil". Created by leading cultural figures VR Gold Award Director Hsin-Chien Huang, Celebrity Chef André Chiang and Contemporary Artist Billy Chang, "We Are What We Eat" involves a co-creation journey featuring the world’s first edible NFT.

"We Are What We Eat" artists and EchoX's incubator (from left): contemporary artist Billy Chang, VR gold award director Hsin-Chien Huang, 2-star michelin chef André Chiang and LeadBest Consulting Group's CEO Neil Lee
"We Are What We Eat" artists and EchoX’s incubator (from left): contemporary artist Billy Chang, VR gold award director Hsin-Chien Huang, 2-star michelin chef André Chiang and LeadBest Consulting Group’s CEO Neil Lee

Not so long ago, Beeple’s NFT platform, WeNew, released the NFT commemorative work "LOUIS: The Game” for the 200th birthday of Louis Vuitton, which has attracted significant attention and sparked a new wave of cross-arts NFT practices. Though the NFT market is hot, much of the focus has been on creating digital art by digital creators. While according to statista, the global market value of NFT is around 330 million US dollars, compared to the 50 billion US dollars in the global art market value, it only contributes less than 1%. So here comes EchoX — unlike most NFT trading platforms focused only on the digital art circle, filling the big gap by targeting the other 99% of creators, galleries, and brands and providing them the right NFT managing and curating tools to experiment with the intersection of cryptocurrency and culture with the following reimagined ways to interact with NFT.

1. Anti-counterfeiting certificate

Empowering an art by minting an NFT as the corresponding traceable anti-counterfeiting certificates mapped to the original artwork. It allows creators, artists, or brand owners to easily mint their NFT and issue them on various platforms while grasping business opportunities in real-time price tracking.

2. Smart receipt and safekeeping system

NFT as smart receipt and safekeeping system to allow artwork owners to auction or merchandise more easily with NFT, whereas the corresponding physical work is kept in the gallery or a third party institute. This characteristic also increases the artwork liquidity with the authentication ensured.

3. Co-creation certificate of Performance art

NFT can also be applied as a co-creation certificate for performance art, allowing art creators to issue NFTs as an invitation to participate and produce together and furthermore to share the right of future potential dividends.

EchoX is funded by SG Asia Capital (an NFT fund based in Singapore) and incubated with the Venture Studio model by LeadBest Consulting Group (Asia’s top ten blockchain consulting firm awarded by APAC CIO Outlook). The strategic investment round was led by the LeadAgileX Industry Empowerment Fund and backed by angel investors including Mindfulness Capital who participated in the equity investment of top blockchain projects such as Bitmain and Sandbox, as well as expert consultants who specialize in blockchain and cultural fields.It is estimated a total of 1.2 million US dollars as the initial investment of this project.

The founding team members include international curators, technology and financial talents, including international curating consultant Dr. Shin-Yi Yang (Cornell University art history PhD), digital empowerment experts LeadBest founder Chia-Hsien Lee; first Taiwanese in Singularity University Dr. Ju-Chun Ko; Curating director Dr. Chia-Wei Wen; (Candidate) of National Taiwan University of Art AMCP, COO Kuan-Ting Liu, and CPO Chi-Tse Chang. Moreover, EchoX is linking to one of the top blockchain multi-signature vault systems, Cybavo, for the preservation of NFT assets. In addition, global strategic partners also include Thomas Ao, Mindfulness Capital (a blockchain capital fund) founder, Ke-Fei Lin, technical director of VC Trade, a subsidiary of the SBI Group, and Taien Wang, information security consultant and the founding chairman of TGONetworks, Chien-Chih Liu, a collector and chairman of Kings Town Bank International Lease Corporation, and Kelvin Chung, legal counsel KPMG partner lawyer.

"NFT will bring an explosive impact to the art market in the near future," emphasized by co-founder Dr. Shin-Yi Yang, an internationally renowned curator.

EchoX, COO Kuan-Ting Liu said, "It is foreseeable that more art trading will take place online through virtual certificates, NFT, which also echoes the original vision of EchoX. That is, to provide NFT management tools and online curatorial consulting services for galleries and creators."

"The cultural and creative industry also needs digital empowerment. So far less than 1% of the global art industry applies blockchain technology. EchoX is aiming at the other 99% entering the brand-new market together. The future possibility is exciting," commented Neil Lee, CEO of LeadBest Consulting Group, the incubator of EchoX.

The first exhibition is going to be a wow in the global NFT market, more surprising curating projects have been in preparation all the way until the end of the year. NFT is the most popular buzzword in crypto and digital markets nowadays, we believe that more cross-field collaborations will be revealed soon.

About EchoX

EchoX is the online-offline curating expert, providing NFT management tools and consulting services in online curating. Dedicated to making online-offline curating and NFTs as easy as artists are creative, EchoX supports and collaborates with galleries, artists and brands to curate a world of echoes altogether whether in the physical world or the metaverse.

Website: echox.app

Facebook: www.facebook.com/TheEchoXio

Instagram:  www.instagram.com/echox.io

Twitter: https://twitter.com/Echoxio

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PR Newswire

Fusion NFT™ – a new way of investing in art and collectibles?

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SINGAPORE, Sept. 12, 2021 — Not so long ago, digital artists whose artworks were posted all over social media, were frustrated that they were not earning much income from their works irrespective of the number of likes, comments and shares they got.  On the other hand, art connoisseurs/collectors have been limited in how they can trade their art pieces as auction houses where predominantly the only avenue for them to sell their collections. 

With the usage of blockchain technology, NFTs (non-fungible tokens) has completely changed how art and collectibles can be bought and sold. Through NFTs, artists now have a new way to monetise their art, collectors can access a more diversified range of collectibles and investors can have access a wider pool of buyers.

While there has been news with respect to the growing interests in NFTs, this strong interest was also seen during the recent inaugural Coinllectibles™️ Fusion NFT™️ on OKEx NFT marketplace.  Within the first day of the launch, an investor paid US$100,000 (28ETH) for the Coinllectibles™️ Fusion NFT™️ Item #001 – a pair of heritage ceramics, which was almost twice the item’s valuation price.  The investor immediately placed the piece out in the secondary market and resold it at 150,000 USDT, successfully making a US$50,000 profit. The new owner then resold the iconic piece for 250,000 USDT and made a profit of about US$100,000. The collectible is currently on sale for sale for 289,000 USDT (https://www.okex.com/defi/nft/markets/detail?id=29978). As a whole, all the Fusion NFT™️ were sold out during the launch and Coinllectibles™️ saw a total sales turnover of more than US$600,000 during the first 4 days. 

Observing this development, Joseph Morton from Equity.Guru commented that this could be a "game of greater fool hot potato" (https://equity.guru/2021/09/10/this-week-in-crypto-standard-regulation-edition/). While that may be the case for regular NFTs, this article takes a look at how different Fusion NFT™️ is and how Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), aims to add value to the collectibles market.

1.         Fusion NFTs™️ – Buyers get both the digital tokens and the physical collectible

NFTs are characterised by its feature of tokenizing items with unique blockchain-based ID tags.  Unlike regular NFTs, where buyers only get a digital asset, buyers of Fusion NFTs™️ get both the digital non-fungible tokens as well as the physical art piece.  In this way, Fusion NFT™️  buyers not only get to buy and sell the digital non-fungible tokens online, they are also able to enjoy the items in the real world. 

2.         Ownership security and provenance

To make the buying and selling of Fusion NFTs™️ secure, Coinllectibles™️ has incorporated state-of-the-art 3D imaging technology to authenticate as well as provide provenance for the collectibles. This is akin to using the facial recognition function to unlock a handphone, the 3D image that is contained within the NFT will be able to authenticate ownership as well as whether the item is genuine. As added security, Coinllectibles™️ also embeds microchips to the collectible items.  Apart from all these technological protection, Fusion NFTs™️ also consists of robust documentation to provide owners with legal protection as well. All these are put together to holistically protect the interest of stakeholders, that will ultimately lead to a more secured buying/selling experience online. 

3.         More than art and collectibles collection

Beyond the buying and selling of NFTs, Coinllectibles™️ aim to bring greater enjoyment to our Fusion NFT™️ owners.  Firstly, Fusion NFTs™️ owners will get to decide between taking possession of the physical collectibles or putting the items up on exhibit in the world’s first gallery for Fusion NFTs™️ at K11 MUSEA in Hong Kong. Secondly, Coinllectibles™️ is exploring the possibility of working with game producers so that Fusion NFT™️ owners will also get to enjoy the items in an online environment. While some of these initiatives are still work-in-progress, Coinllectibles™️ believes that all these additional benefits help differentiate Fusion NFTs™️ from the rest.

In conclusion, not only are NFTs attracting the attention from artists and collectors, investors are also eyeing the extensive market opportunity of this crypto art and collectibles trade. Based on Statista, the total number of NFT from Apr 2021 to Aug 2021 was more than 263,000 – which approximates to 1 NFT sold each minute. All these showcase the immense potential and profitability of NFTs being traded in the primary and secondary market.  We are still in the early days. While it is anyone’s guess how the NFT market will become, the prospects for now is extremely bright.

To keep up with the launch of Fusion NFTs™️ projects and news, please visit www.Coinllectibles.Art or join the Coinllectibles™ Telegram Channel at https://t.me/Coinllectibles.

About Cosmos Group Holdings Inc.

Cosmos Group Holdings Inc. (OTC: COSG) was formerly a television network and multimedia information and distribution company focused on serving the homeland security and emergency preparedness industry. The group’s future will focus in the development of blockchain NFT technologies and platforms to facilitate the global trading of arts and collectibles.

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 NFTs™️, 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 NFTs™️ 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.

About Coinllectibles™️ Fusion NFT™️

Coinllectibles™️ prides the Fusion NFT™️ as the industry "Gold Standard".  Being a Gold Standard, a Fusion NFT 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 NFT™️, 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 NFT™️, (4) ownership title deed written into the description of the Fusion NFT™️ and (5) the unequivocal identification file of the underlying asset, whose ownership is reflected in the title deed represented by the Fusion NFT™️.

PR Newswire

Glorious, A Premier Creative NFT Studio & Marketplace

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GROWING LIST OF COLLABORATORS INCLUDES DAN CARTER, SIX60, RITA ANGUS (ESTATE) LISA REIHANA, NEIL FINN, DICK FRIZZELL & MORE

LAUNCHING OCTOBER 2021

AUCKLAND, New Zealand, Sept. 1, 2021 — A collective of Kiwi super-talent has joined forces to launch a game-changing creative NFT studio and marketplace called Glorious.

With an enviable line-up of creators that includes Six60, Lisa Reihana, SailGP, Neil Finn, Dan Carter, Karl Maughan, the Rita Angus Estate and Dick Frizzell; Glorious will release exclusive works of art of the highest calibre, bringing creators and collectors closer together through the power of blockchain technology.

With a fast-growing roster of elite artists already on board, Glorious is set to elevate the world of digital art with their authentic digital masterpieces, entering a realm which has seen explosive growth over the past year, with sales in excess of $2.5 billion.

Founded by a team that includes All Blacks superstar Dan Carter, leading business and innovation consultant Scott McLiver, former Solicitor General Mike Heron QC, and creative power duo Murray Thom and Tim Harper, Glorious enters the market as a legitimate way for art, sport and entertainment enthusiasts to embrace NFTs. Glorious prides itself on being an ‘artist first’ organisation.

"It is still commonplace that many artists across mediums are locked out of the future value of their work through unfair business models or contract arrangements," says Co-Founder and CEO Tim Harper.

"You only need to look at the many objections to music streaming services, for example, to understand why artists need and deserve a better deal. This is where Glorious comes in, at the forefront of this new frontier."

The Glorious approach to NFTs centres around the creation of enduring works that benefit all parties involved. For artists, that means percentage royalties in perpetuity, every time that asset changes hands. For collectors, it means access to exclusive and valuable works of art, and 100% confidence that the digital asset they own is truly authentic, truly scarce and cannot be stolen or forged.

Blockchain technology ensures that NFT works of art last forever as they suffer no degradation – and just like any other art form, they can be handed down through the generations.

With high artistic value a key tenet of Glorious, the digital collections created and released through the platform are designed to be displayed. Whether collectors prefer that to be on their smartphone, home television screens, or in a digital frame, is up to them.

Not confined to just digital works, Glorious will also present membership-based NFTs built around rights and privileges, and access to creators. Experiences could be a white-knuckle ride onboard a SailGP F50, guaranteed front row seats at a Six60 concert, or a one-on-one kicking session with an All Blacks legend.

Dan Carter made the choice to join the Glorious team after feeling inspired by what NFTs can do for athletes and their connection with fans all over the world.

"Bringing fans closer to the artists or athletes they follow is at the core of the NFT experience. Ultimately, the fans are the driving force behind all professional sport and entertainment and it’s great to be able to engage in new and innovative ways to connect with our supporters," says Dan Carter, Co-Founder of Glorious.

The team at Glorious has also unveiled Glorious Legacy, a stand-alone premium collection reserved for iconic artists and institutions – collaborators who have all earned worldwide recognition through decades of leadership and excellence in their chosen field. These masterpieces created and released through Glorious Legacy aim to celebrate, preserve and enhance their heritage and legacy.

Auckland headquartered software development house Sylo has provided the business, legal and technology expertise to found Glorious. With sustainability at the core of Glorious, the platform has been purpose-built on a proof of stake blockchain, Cennznet, a system that is 99% more energy efficient than early blockchains like Bitcoin.

"Life will never be the same," says Harper. "We look forward to connecting dedicated collectors and enthusiasts with some genuinely unique and amazing works of art and experiences as we continue to unveil Glorious this year."

Full launch is expected to be this October, with a further line-up of major international talent to be announced over the coming weeks.

—

MEET THE GLORIOUS FOUNDERS:

Tim Harper – CEO, Creative Director
Scott McLiver – Business & Innovation Consultant
Murray Thom – Executive Producer, Thom Productions
Dan Carter – All Blacks legend
Mike Heron QC– Former Solicitor General of New Zealand
Sylo – Strategy & Development; sylo.io

CONNECT WITH GLORIOUS:

Glorious.digital

PR Newswire

CGTN: From a barren land to the world’s largest man-made forest, Saihanba and China’s ecological efforts

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BEIJING, Aug. 26, 2021 — Decades ago, no one would imagine that Saihanba – the once barren land located in north China’s Hebei Province – would turn into the world’s largest man-made forest. 

 

China did it. 

Saihanba now sees a forest coverage of 80 percent, which can conserve and purify 137 million cubic meters of water every year, an achievement hailed "great" by Chinese President Xi Jinping.

"It is a model in the world’s ecological civilization history," he said during his recent two-day tour in Hebei.

During his trip, Xi learned about the management and protection of the forest farm, as well as Hebei’s coordinated efforts in conserving its mountains, rivers, forests, farmlands, lakes and grasslands, and desertification control. 

The president stressed the importance of developing the green economy and furthering ecological progress, urging to carry on "Saihanba spirit"—a term attributed to generations of workers on the farm who have kept their mission in mind, worked hard and pursued green development. 

Xi urged the workers at the Saihanba forest farm to gain a deeper understanding of ecological conservation and continue their hard work for new achievements.  

Xi encourages elderlies to stay active in job market

Facing a rapidly aging labor force in a continuously expanding economy, Xi encouraged more elderly folks to "stay active" in the job market when inspecting the Binhe community service center.

Xi suggested those "younger seniors" to participate in duties like community volunteering jobs.

According to China’s National Bureau of Statistics, there are currently 264 million people aged 60 and over, accounting for 18.7 percent of the total population. The trend – many say – could potentially pose threats to the world’s second-largest economy.

The country has put it explicitly in its 14th Five-Year Plan (2021-2025) that it will raise the statutory retirement age "in a gradual, flexible and differentiated manner" to adapt to that "new normal."

During his visit, Xi also stressed the need to achieve this year’s major goals for the country’s economic and social development. 

He underlined the need to achieve a balance between COVID-19 prevention and control and economic and social development, and between development and security, to promote high-quality development, and to strive to fulfill major social and economic targets and tasks for this year to ensure a good start of the 14th Five-Year Plan.

A new development philosophy in an all-round, faithful manner is need to put into practice, Xi, also general secretary of the Communist Party of China (CPC) Central Committee and chairman of the Central Military Commission, said.

Xi calls for preservation and development of cultural heritage

In the renowned Chengde Mountain Resort – a UNESCO World Cultural Heritage site—Xi learned about its history as well as the preservation efforts there.

The resort serves important historic meanings to communication between different ethnic minority groups, adaption of religion and the society, preservation and development of cultural heritage, as well as the peaceful coexistence between human and nature, Xi pointed out.

He also highlighted cultural confidence and the unity between multi-ethnic groups.

The Chinese president then visited Puning Temple, a famous Buddhist temple near the resort, and the Chengde Museum.

Xi: From ‘rural revitalization’ to ‘industry revitalization’

China has always viewed rural vitalization as one of the keys to developing a modern economy, and President Xi took that a step further. He stressed the importance of "industry revitalization."

Daguikou village—where Xi visited—now grows strawberries, grapes and cherries. Yet fruit was not their first choice.

The village had tried rice, corn and vegetables. But for all sorts of reasons like the lack of water, these products were underproduced. Therefore, villagers couldn’t make money off them. So they turned to growing fruits instead.

Now, growing strawberries has become the main business for the 1,700 residents, with each household making around $15,000 a year.

Xi called on villages to implement tailored methods and find out their distinctive resource in singling out their advantages, while also calling to strengthen rural infrastructure and public service system.

https://news.cgtn.com/news/2021-08-25/Aging-in-China-Xi-encourages-seniors-to-stay-active-in-job-market-131aEaOXqU0/index.html

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PR Newswire

Fusion NFT Blockchain Company Coinllectibles (OTC: COSG) Acquires More than HKD 10,000,000 of Collectibles from Dr. Herbert Lee

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HONG KONG, July 24, 2021  — The Fusion NFT™️ blockchain company, Coinllectibles™️, a fully owned subsidiary of Cosmos Group Holdings Inc. (OTC: COSG), has announced its acquisition of collectibles from Dr. Herbert Lee at an aggregate value of more than HKD 10 million, which will be minted into Fusion NFTs™️.

The minted Coinllectibles™️ Fusion NFTs™️ will each contain a smart contract that unequivocally describes the ownership of, and the rights in, the collectible. 

The collectibles are from Dr. Herbert Lee’s private collection, which reflects his interests in arts and collectibles all over the world including China. They will be minted into Coinllectibles™️ Fusion NFTs™️ after the acquisition.

At the request of the buyer, each of these collectibles may be exhibited in Coinllectibles™️ Fusion NFT-art gallery at the Victoria Dockside, home also to K11 Musea, one of the most prestigious art real-estate in Hong Kong. For pre-purchase inquiries on these Fusion NFTs™️, please visit Coinllectibles™️ website. In addition, Coinllectibles™ will also cooperate with the world’s leading cryptocurrency spot and derivatives exchange, OKEx, in the Fusion NFTs™️ field in the near future.

"We are truly honoured by Dr Lee’s decision to entrust us with these precious porcelains from his private collection." Said Toby O’Connor, the CEO of Coinllectibles™️. "We hope our professonalism in handling the entire process will lead to more acquisitions, which will help Coinllectibles™️ build a diverse portfolio of both historical and modern art, to be minted into Coinllectibles™️ Fusion NFTs™️." Added Toby.

About Cosmos Group Holdings Inc.
Cosmos Group Holdings Inc. (OTC: COSG) was formerly a television network and multimedia information and distribution company focused on serving the homeland security and emergency preparedness industry. The group’s future will focus in the development of blockchain NFT technologies and platforms to facilitate the global trading of arts and collectibles.

About 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 NFTs™️, 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 NFTs™️ 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.

Website:           www.coinllectibles.art 
Facebook:        https://www.facebook.com/Coinllectibles 
Instagram:        https://www.instagram.com/coinllectibles/ 
Twitter:             https://twitter.com/coinllectibles 
LinkedIn:          https://www.linkedin.com/company/coinllectibles 
Telegram:         https://t.me/Coinllectibles 

PR Newswire

Allseated exVo to Power Kennedy Center’s Honors Gala Hub

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Kennedy Center to Embrace Virtual Hybrid Event Platform, Allseated exVo to bring Virtual Reality to their Honor’s Gala

SAN FRANCISCO, July 8, 2021 — Allseated exVo, the leading 3D virtual hybrid event platform that brings the best of both worlds, virtual events and real-life events, announces a collaboration with the Kennedy Center for its largest annual fundraiser, the Kennedy Center Honors. 

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This collaboration allows the attendees of the Virtual Kennedy Center Honors Hub to network with real-time one click video calls; as well as mimic the look and feel of a real life event in the Kennedy Center’s iconic Grand Foyer and Opera House lobbies.

The Allseated platform offers event organizers a real-life looking experience from stages, seating for attendees, booths, sponsorships, and a well-designed conference hall much like they are used to in offline events.  To tailor the platform’s functionality for the Honors,Allseated, in collaboration with production company CharityBids and the Kennedy Center developed a virtual re-creation of portions of the famed Center and filled these spaces with exclusive performances from renowned entertainers. As part of the Center’s online gala Hub, this virtual experience allows contributors to the virtual gala to tour the building, watch tributes, and interact with others. "The creative team has exceeded our expectations," says Kennedy Center Assistant Manager John Guastello. "The virtual component of the Honors Hub provides a unique experience that goes beyond the CBS broadcast and expands the opportunities of our audience to interact with and appreciate the brilliant artists we are honoring with this event."

According to CharityBids CEO Israel Schachter, "Our goal was to simply take all the amazing things these two institutions have to offer and stretch their respective limits to create an experience that represents the future of performing arts exhibition and education." 

Sandy Hammer, Co-Founder and CMO of Allseated explained, "We are honored to be participating in such a prestigious event. It is for events like this that we designed exVo. The virtual reality experience in the Hub is immersive and realistic  – it is an incredible piece of work!"

About Allseated
Allseated transformed the event industry to an all-digital platform where all parties come together to collaboratively delight clients and grow businesses. 

In 2021, exVo was launched specifically to answer all the challenges that result in virtual conference fatigue. All attendees, regardless of tech know-how, will be able to navigate through the experience. 

About the Kennedy Center
The John F. Kennedy Center for the Performing Arts is America’s living memorial to President John F. Kennedy, attracting millions of visitors each year to more than 2,000 performances, events, and exhibits. With its artistic affiliates, the National Symphony Orchestra and Washington National Opera, the Center is one of the nation’s busiest performing arts centers dedicated to providing world-class art, powerful education, and outstanding memorial experiences to the broadest possible constituency. Across all its offerings, the Kennedy Center is committed to increasing accessible, inclusive opportunities for all people to participate in, and learn through the arts, including more than 400 free performances each year and a variety of Specially Priced Ticket programs for students, seniors, persons with disabilities, and others. On September 7, 2019, the Kennedy Center inaugurated the REACH, its first-ever major expansion. Designed by Steven Holl Associates, the REACH provides visitors with new opportunities to interact and engage with the Center as the nation’s premier nexus of arts, learning, and culture.

To learn more about the Kennedy Center, please visit www.kennedy-center.org.

About Charitybids
From procuring and booking talent to writing and producing high-quality shows and events, CharityBids creates unique opportunities to help charities grow and thrive. 

Their success is attributed to their reputation as industry experts, extensive network, and client-focused approach. CharityBids has become the go-to team for virtual event production and unique, once-in-a-lifetime consignment packages. 

Contact: 
Merdith@allseated.com

 

Related Links :

http://www.allseated.com