NEW YORK, Jan. 7, 2022 /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 in the
entertainment industry, announced today that on January 30, 2022, the company will launch Color
World auto non-fungible token ("NFT") generation system to create
an NFT-concept ecosystem.
Color World is an entertainment metaverse platform that
integrates sectors such as entertainment, social networking, games,
interactions with celebrities and many more features. Currently,
the Company has developed a brand-new NFT auto-generation system.
Once logged in, all registered users can automatically generate
their own NFT products from the songs, dances, musical
performances, and other activities done by their avatars in Color
World, the copyrights of which will be owned by the users
themselves. In addition, users can design their avatars' clothing,
cars, housing, and other products, all of which can be
self-generated as NFT products, and the users will be the copyright
owners. Through this self-service software, Color Star hopes that
more users can learn about NFT products and get more copyright
revenue while encouraging more original creators to generate their
very own NFT products through Color World entertainment
metaverse.
Sir Lucas Capetian, CEO of Color
Star, comments, "Color Star believes the cultural and entertainment
industry is most suited for the development of NFT products,
especially for the protection and promotion of the works by
original creators. With easy steps, we hope this auto NFT
generation system can help more users and creators to turn their
works into NFT products without all the complex procedures. We also
encourage creators to sell their NFT products in the global market
to individuals, and companies alike. We hope more creators can
safeguard their copyrights and interests through this product."
The NFT auto-generation system can be used in Color World for
audio, video, images, and texts. It is believed that the product
will attract copyright authors and original works from all over the
world, and it will greatly enrich the user base and content of
Color World.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq: 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 internationally 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.