NEW
YORK, April 19, 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, recently
announced that their Singaporean subsidiary, Color Metaverse Pte.
Ltd., has officially entered a strategic cooperation agreement with
Versatile Music International Ltd. (hereinafter referred to as
"Versatile Music"). As a high-tech company, Color Star will
cooperate deeply with Versatile Music in the field of online
digital entertainment.
The band of the British company Versatile Music, Versatile
Brass, is one of the world's leading brass bands. The brass band
has had the honor of playing for His Royal Highness Prince Edward
and His Holiness the Pope, as well as participating in various
important performances and events. Soon, the band will also display
their artistic talent and deliver legendary performances to users
worldwide on the Color World metaverse platform. Following the
cooperation agreement, Versatile Music will join the Color World
metaverse platform and establish its own exclusive online company.
At the same time, both parties will focus on the production of
online concerts and celebrity masterclasses. This will help Color
Star to expand further into the European and American markets,
consequently attracting more European and American users to join
the platform. While on the other hand, Versatile Music will also
use its influence in the UK to promote Color World. Not only that,
based on Color World's current selection of celebrity courses, more
famous celebrities from Europe and
the United States will join the
platform to become Color Star tutors in the future. This resulting
influx of new courses, virtual merchandise, and other digital
products will start a chain reaction resulting in endless new
content for the platform. This will likely increase Color World's
number of diverse revenue channels.
For Color Star's geographic expansion strategy, the European and
American markets are obviously very important. Their diverse
population and market environment will bring unlimited development
potential to the Company. Color Star has set up a professional team
to carry out market analysis and research and cooperation
negotiations with the hopes that through the Color World metaverse
platform, global art and cultures can be displayed, while also
allowing more enterprises and businesses to earn revenue and
improve outlook.
Lucas Capetian, CEO of Color Star, said: "The main goal of our
cooperation with our numerous partners has always been to be
mutually beneficial to both parties. This cooperation with
Versatile Music allows both of our companies to have better
business development by utilizing our respective resources and
assets. At the same time, online digital entertainment and related
products will also bring revenue. And through this, Versatile Music
will help us attract more European and American users and business
partners."
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.