NEW YORK, April 13, 2021 /PRNewswire/ -- Color Star
Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as
"Color Star" or the "Company") announced
today that it has signed a strategic cooperation agreement with
Supre NFT, a diversified NFT super platform, in which both parties
agreed to have in-depth collaboration in the development of future
Non-Fungible Tokens ("NFT").
Supre NFT maintains SuperTop, a diversified and integrated NFT
super platform, covering NFT creation and trading, auctions,
physical mapping NFT, collateral, NFT social applications, among
others. The platform is built on the SupreNFT protocol and STU
certification, and developed by deploying and integrating ERC-721
and ERC-1155 NFT and other protocols, such as SupreNFT, SupreART,
SupreMe, and SupreFi. SupreTop aspires to be the "eBay" of the NFT
world. SupreTop is a super trading and creation platform with the
technology to aggregate hundreds of NFT trading platforms. It is
expected to also support the creation and transaction of any NFT
that has been connected to the platform with just one click, as
well as support NFT casting, purchase, and sales of ERC-721 and
ERC-1155 NFT, Bigdipper, BEP2, FLOW, WAX, and BSV.
In the future, Color Star expects to publish, in NFT form, the
contents of its own film rights, online concert tickets, online
concert videos, celebrity peripheral products, celebrity videos,
music rights, and TV rights. Color Star is committed to
technological development within the entertainment industry. It has
invested tremendous resources and effort into research and
development, and has made steady progress in the construction of
augmented reality (AR) and artificial intelligence (AI). This time,
the Company has increased its efforts in the development of NFT, as
it believes this will generate more revenue and growth potential
for original copyrights and their creators. In the future, the
Company also plans to develop more NFT with entertainment
content.
The CEO of Color Star, Mr. Luke
Lu, commented: "We are very pleased to reach a consensus on
cooperation with Supre NFT. In the future, the two parties expect
to have deeper cooperation in the NFT field. NFT is a sought-after
new potential in the market, but there is currently limited content
and IP products that are associated with NFT. Color Star does not
focus on short-term objectives at the expense of long-term growth,
so we look forward to developing NFT products that should allow
global audiences to view more high-quality entertainment content,
and in the meantime generate well-deserved returns to the original
authors. Our NFT products are based on the protection of
intellectual property rights and should enhance more creative
potential. The stronger the quality of our creative endeavors, the
more well received we expect the NFT products incorporating our
intellectual property will be."
The cooperation between Color Star and Supre NFT is expected to
be a multifaceted collaboration. Both parties plan to share
resources and leverage their own advantages in the areas of brand
promotion, market expansion, and community building. Supre NFT's
well-rounded technology and trading platforms provide a trusted
ecosystem for unique NFT to be created and exchanged, and Color
Star's robust and growing library of unique and proprietary content
lends itself to truly collectible NFT. The Company hopes to use NFT
technology to give users more access to copyrights and video
content via digital encryption, and expects that this technology
will give fans digital ownership of personally meaningful NFT. In
the future, the Company expects to launch more NFT products in the
scenes of AI and AR, video, celebrity products, and other
sections of the Color Star APP.
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 a 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; consumer and government acceptance of cryptocurrencies
in general and nonfungible tokens in particular; the adoption of
the SupreTop platform by other NFT content creators and platforms;
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
View original
content:http://www.prnewswire.com/news-releases/color-star-technology-co-ltd-nasdaq-cscw-signs-strategic-cooperation-agreement-with-supre-nft-for-in-depth-collaboration-in-the-development-of-future-nft-301267249.html
SOURCE Color Star Technology Co., Ltd.