NEW YORK, Jan. 4, 2022 /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 in the
entertainment industry, announced today that all avatars within
their entertainment metaverse platform Color World will be
available online as NFT, with permanent rights available for
purchase by its global users.
The NFT products launched online will include all avatars in
Color World. Users purchasing this NFT product will not only get
exclusive rights to the avatars but also a 3D-printed figurine.
This NFT product launched by Color World realized the novel
combination of virtual and physical forms. With very few physical
products launched, NFT products are mostly digital products based
on network. Color Star's combination of digital and physical
products is a new attempt, as the company wants owners to be able
to show off their NFT products not only on the Internet, but also
in real life. In the future, Color Star is looking to launch more
similar products.
Sir Lucas Capetian, CEO of Color
Star, comments, "we always hope that our NFT products can have
better collection value while being aesthetically appealing and
practical. We have made a bold attempt this time to combine
physical products with online digital products. We believe more
users will be happy to collect such NFT products. In addition,
owners of this series of Color World avatar NFT products will be
the sole user and copyright holder of the avatar in Color World and
even the virtual world around the globe, which I think is
intriguing. Color Star has decided that the culture and
entertainment industry is most suited for NFT products ever since
we started building Internet technology products. In the future, we
will develop more similar NFT products, including celebrity
co-branding products."
The NFT products launched by Color Star are expected to be
available on major NFT trading platforms, as well as within Color
World, for global users.
About Color Star Technology
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.