NEW YORK, Sept. 17, 2021 /PRNewswire/ -- Color Star
Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as
"Color Star" or the "Company"), an entertainment technology company
with a global network that focuses on the application of technology
and artificial intelligence (AI) in the entertainment industry,
announces the launch of a new metaverse application scenario, which
is the first phase in adopting a metaverse mode for the Company's
interactive platform Color Star APP.
As an entertainment technology company, Color Star has made
continuous efforts and investments in developing new
entertainment technologies. The Company believes
the entertainment field is one of the most suitable industries
for the application of metaverse. For this reason, it has set up a
research laboratory in Dubai that
is devoted to developing metaverse products. At present, after
the introduction of virtual characters to the platform, Color Star
has launched new application scenarios. In the future, the Color
Star APP interface will be upgraded to a virtual scene, where users
can engage in social interactions in addition to participating in
entertainment activities. The Company envisions a Color Star APP
that will enable more users to create a new life for themselves in
the "new world".
Mr. Basil Wilson, CEO of Color
Star, commented: "We have been continuously developing and
innovating in the areas of entertainment technology. Instead
of simply chasing the latest "trend", we focus our
energy on utilizing advanced technologies to make the
entertainment industry more diverse and enjoyable. With the launch
of the metaverse interface, Color Star will allow more people
to fulfill their dreams and ideals in a new virtual world that they
may not be able to accomplish in real world. We will continue to
devote resources and energy to developing technologies that
will offer better and more convenient experiences to users
worldwide."
The new metaverse interface created by Color Star will have a
series of scenes, including schools, stadiums, residential
complexes, shopping malls, concert halls, cafes, restaurants, game
centers, among others. The application scenarios will continue to
be updated and expanded and will also be launched in non-fungible
token (NFT) form. Every NFT owner will receive a personalized
application scenario, and all public scenarios will be eligible for
personal collection in NFT form. NFT owners will have naming rights
to the particular scene application that they purchase. Color Star
strives to help each individual realize his or
her alternative self in the Color Star world.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: CSCW) is an
entertainment and education company that provides online
entertainment performances and online music education services. Its
business operations are conducted through its wholly-owned
subsidiaries Color China Entertainment Ltd. and CACM Group NY, Inc.
The Company's online education is provided through its Color World
music and entertainment education platform. More information about
the Company can be found at www.colorstarinternational.com
Forward-Looking 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 guarantee 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; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the educational and training services market
in China and other countries where
CSCW conducts its business; reputation and brand; the impact of
competition and pricing; government regulations; fluctuations in
general economic and business conditions and assumptions underlying
or related to any of the foregoing and other risks contained in
reports filed by the Company with the Securities and Exchange
Commission. 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 U.S. Securities and Exchange
Commission, 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
unless required by applicable laws, regulations or rules.
For more information, please contact:
William Tu
Skyline Corporate Communications Group, LLC
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: wtu@skylineccg.com
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SOURCE Color Star Technology Co., Ltd.