NEW YORK, May 6, 2021 /PRNewswire/ -- Color Star Technology
Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star"
or the "Company") announced that it will sell a portion of the
content of the movie "Guilt" as a NFT.
Since its release, the movie "Guilt" has received a great deal
of attention. The film, which is adapted from real events, has
sparked lively discussion. The Company has decided to sell parts of
the unreleased content of the movie as a NFT. The introduction of
Color Star's NFT products is a new application of blockchain
technology. The Company has always believed that the blockchain
technology of non-fungible token suits the entertainment industry
best. This technology not only promotes the development of
entertainment copyrights, but also benefits materially the
copyrights owners. With this NFT application in place, Color Star
will continue to launch more NFT-related products in areas such as
music copyrights and TV copyrights.
The CEO of Color Star, Mr. Luke
Lu, commented: "Currently, NFT transactions in the
market are very active, and we are optimistic about the application
of NFT technology in the entertainment industry. The launch of NFT
products for a portion of our movie "Guilt" belongs to the first
phase of our NFT development and application. Based on the data
from this phase, we will accumulate more experience in launching
similar products in the future."
As an entertainment technology company, Color Star has been
committed to conducting technological research applying to
entertainment products. The Company believes that its high-tech
capabilities and technology power will bring out more potential of
entertainment products. As the Company continues to release more
entertainment technology products, including blockchain products,
artificial intelligence (AI) and augmented reality (AR) products,
these products will attract more users and provide users with a
more enriching experience. The Company firmly believes that these
technologies will pave the future of entertainment.
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.
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SOURCE Color Star Technology Co., Ltd.