NEW YORK, Jan. 20, 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 ("AI") in the entertainment industry,
announced today that it will launch the "Color World" software
token, namely "Color Tickets", at the same time as the launch of
the entertainment metaverse platform, Color World APP, on
January 28, 2022. These two
concurrent launching events will allow users around the world to
use the "Color Tickets" in the Color World APP.
In order to provide global users with a better life and
entertainment in the Color World APP, the Company will
simultaneously launch "Color Tickets" for global members to use in
the Color World platform. The "Color Tickets" can be used in its
software for spending, purchasing goods, and recharging games. As a
virtual world, the Color World APP strives to achieve the same life
scenario as the real one. In order for more members to live in the
virtual world as if they were living in the real world, the Company
will introduce tokens for virtual world. The "Color Tickets" are
not legal tender and can only be used in the Color World APP.
Lucas Capetian, CEO of Color Star Technology, said: "the virtual
world also needs a system and a transaction structure. In order to
make the application experience better for members worldwide, we
will introduce the Color World's own internal transactional media,
the "Color Tickets". All members are free to exchange certain
amount of "Color Tickets" they have in the Color World APP. Members
can also use their "Color Tickets" to 'purchase' all the virtual
products in the Color World APP, including celebrity peripherals,
cars, houses, lands, artworks and everything else that exists in
the Color World. At the same time, global members can also earn
"Color Tickets" in Color World. Members can earn "Color Tickets" by
winning games or by showcasing their singing, dancing, skills and
various personal talents. Thus, in the virtual world, users around
the world can prove their talents through the amount of virtual
tokens they have. We hope that through these incentive-based and
encouraging rewards, more players can become real estate tycoons,
business tycoons, and entertainment tycoons in our Color World APP
so that more people can achieve their ambitions."
Users can obtain the exchange rules of "Color Tickets" in the
Company's entertainment metaverse platform, Color World
APP.
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.