NEW
YORK, Sept. 29,
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 its official entry into
the mobile communications industry. The co-developed metaverse
smartphone, DONO phone, has been born and will soon be available
for purchase all over the world. After the phone was revealed, it
quickly became a hot topic of interest inside and outside the
industry, and the public was interested in the metaverse phone
concept in addition to the advanced security system of the
smartphone.
With the increasing use of communications technology and
artificial intelligence, the metaverse has become one of the
hottest topics for major technology companies to research and
develop. At the start of this year, Color Star's previous Color
World mobile application was successfully transformed into
ColorWorld Metaverse ("Color World"). The virtual locations,
avatars and NFT products found in the newly rebirthed app were
applauded by many users and the number of downloads subsequently
skyrocketed, prompting the Color Star team to strengthen the
application's security to fend off hackers. Now, Color Star's DONO
phone will act as the conduit between users and the metaverse,
trying to ensure it is never out of reach. It is a small smartphone
that will open the gates to the metaverse technology and effortless
communication and interaction made possible through artificial
intelligence.
Regarding the software of the DONO phone, Color World will be
pre-installed on every DONO phone, capable and optimized for VR,
IR, AR and 5G technologies. Mobile device security is Color Star's
top priority, and its technology team will be providing extensive
support to the research and development of the security system,
trying to ensure that the phone will receive regular security
updates to fend off the latest hacks and exploits. The DONO phone
will utilize a distributed file storage system and a decentralized
storage server to make it an almost impossible task for hackers.
Future plans also include introducing a digital wallet feature
"Dono", and cloud storage service "Dinbin".
Farhan Qadir, CEO of Color Star,
said: "Color Star is a technology company, so there are two things
we value highly: one is software development, and the other is
cyber security. Our upcoming DONO phone is aimed at the global
market, and our priority is to ensure exceptional user safety and
software stability. Our own Color World app will also introduce
more people to the metaverse experience. We will provide more
technology services and front-end projects in the future."
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.