NEW YORK, Sept. 17, 2021 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence (AI) in the entertainment industry, announces the launch of a new metaverse application scenario, which is the first phase in adopting a metaverse mode for the Company's interactive platform Color Star APP.
As an entertainment technology company, Color Star has made continuous efforts and investments in developing new entertainment technologies. The Company believes the entertainment field is one of the most suitable industries for the application of metaverse. For this reason, it has set up a research laboratory in Dubai that is devoted to developing metaverse products. At present, after the introduction of virtual characters to the platform, Color Star has launched new application scenarios. In the future, the Color Star APP interface will be upgraded to a virtual scene, where users can engage in social interactions in addition to participating in entertainment activities. The Company envisions a Color Star APP that will enable more users to create a new life for themselves in the "new world".
Mr. Basil Wilson, CEO of Color Star, commented: "We have been continuously developing and innovating in the areas of entertainment technology. Instead of simply chasing the latest "trend", we focus our energy on utilizing advanced technologies to make the entertainment industry more diverse and enjoyable. With the launch of the metaverse interface, Color Star will allow more people to fulfill their dreams and ideals in a new virtual world that they may not be able to accomplish in real world. We will continue to devote resources and energy to developing technologies that will offer better and more convenient experiences to users worldwide."
The new metaverse interface created by Color Star will have a series of scenes, including schools, stadiums, residential complexes, shopping malls, concert halls, cafes, restaurants, game centers, among others. The application scenarios will continue to be updated and expanded and will also be launched in non-fungible token (NFT) form. Every NFT owner will receive a personalized application scenario, and all public scenarios will be eligible for personal collection in NFT form. NFT owners will have naming rights to the particular scene application that they purchase. Color Star strives to help each individual realize his or her alternative self in the Color Star world.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: 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
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.