NEW YORK, April 7, 2022 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq: CSCW) ("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
that its subsidiary Color Sky Entertainment Limited ("Color Sky")
officially reached a strategic partnership with Shenzhen Qian Hai
Blue Earl Business Aviation Service Co ("Earl Blue Aviation"). In
the near future, a virtual airport will be set up in Color Star's
metaverse platform Color World, which will become a hub for digital
aviation services and other related businesses. With the continuous
improvement of networking technology, digital products featuring
artificial intelligence as a core feature are becoming increasingly
sought after by the public.
Earl Blue Aviation is a large-scale private flight service
provider and flight management platform. It is an aviation company
that provides cloud service and 24/7 global private jet services.
It has more than 5,000 business aircrafts and perfect customer and
member service systems. They provide a worldwide business jet
leasing service, helicopter hailing centers, first-class booking
service, medical jet service, VIP customized flight routine
service, and other private flight-related services. In view of the
professionalism and variety of services provided by Blue Earl
Aviation, Color Star hopes to set up a "Color Airport" on the
metaverse platform Color World. Private business jets, cloud
service and other related aviation services offered by Blue Earl
Aviation will all be available digitally on the platform. This will
allow members worldwide to make online reservations on the
platform, while using artificial intelligence technology to allow
users a digital flight experience. High-end corporate users will
also be able to use virtual reality ("VR") technology to carefully
view a business jet that they are interested in purchasing. This
not only allows Earl Blue Aviation to reach more potential
customers, but also allows Color World members to enjoy the unique
digital experience in the Color World metaverse.
Recently, Color World has had many famous enterprises join the
metaverse platform. The types of enterprises are diverse, including
restaurants, fashion brands, ticketing services, real estate,
biology, training centers etc. On this platform, members can use
"rainbow beans" to purchase and experience related digital
products, clothes, cars, airplanes, flight tickets, hotel service,
guided tours, online shopping etc. This model is fully in line with
Color Star's initial vision for Color World, creating a metaverse
with a truly immersive online experience.
Lucas Capetian, Color Star's CEO stated: "So far, we have
virtual stores, virtual restaurants, virtual ticket centers, and
other kinds of virtual scenes and cityscapes in Color World.
However, this is far from enough, as our goal is to create the
real-life experience in a virtual world. We have set up virtual
characters and "rainbow beans", so that our members can benefit
from a more authentic experience. More realistic scenes and
institutions will be set up in Color World in the future, and the
companies who we cooperate with all acknowledge and agree with us
on the view that the trend of the business economy will inevitably
drift towards the development of the combination of digital and
physical worlds."
About Color Star Technology Co., Ltd.
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.