NEW YORK, Oct. 5, 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,
announced today that it will continue to increase its
investment in product development for its key metaverse
project.
To date, Color Star has already completed creation of metaverse
virtual humans, metaverse simulation scenes, and metaverse virtual
reality (VR) and non-fungible token (NFT) scenes. These
features will be launched in sequence this month, with
interfaces updated accordingly on the Company's interactive
platform, Color Star app. Color Star continues to invest heavily in
the research and development of 3D scenes and online VR concert
sections, with the 3D version to be applied to online interactive
celebrity videos, shopping, and other upcoming projects, to bring
online life another step closer to reality.
Mr. Basil Wilson, CEO of Color
Star, commented: "Color Star has invested
significant financial resources and manpower in the
creation of the metaverse project. We not only have our
own experimental development base, but also cooperate with top
technology companies worldwide to jointly develop new
products. At present, the first phase of the Company's metaverse
project is nearing completion. In the next phase, we will
continue to develop and improve the visual and audio
aspects of Color Star's metaverse VR scenes, and strive
to bring an updated and more perfect online-life experience to
our global audiences."
The Color Star metaverse series is part of the world of online
entertainment, where global users can interact with their favorite
idols and even use their avatars in the metaverse. Through the
Color Star app, users will have access to entertainment, social
networking, games and many other functions, all in one place.
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, including the development of the
metaverse project; 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.
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SOURCE Color Star Technology Co., Ltd.