NEW YORK, March 3, 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 its wholly-own subsidiary Color Sky
Entertainment Ltd. has reached a strategic cooperation with
Bobaiyue Biotech ("Bobaiyue Biotech") and established a cell bank
on its Color World metaverse platform, which also represents the
platform's extending another business track. In the future, Color
World will give full play to its own technology and artificial
intelligence, promoting it with its partners in the biotechnology
area globally.
With the launch of the Color World metaverse platform in Apple
and Android app stores, people around the world can now download it
easily. With over one million app downloads already, the Asian
version of it will also be available in the app stores soon, by
which time users in Asia will also
increase a lot. Such a huge user base has also brought a lot of
business potentials. Many enterprise merchants have begun to settle
in Color World, taking advantage of the metaverse trend to expand
the industrial sector in the era of "Internet +". The biomedical
area is a brand-new track of the Color World metaverse platform.
Color Star and Bobaiyue Biotech will collaborate to build the
"Color Cell Bank".
In this virtual cell bank, our online users can freely apply for
the deposit of their own "cord blood" and "stem cells", and conduct
regular "physical check-ups", just like entering a real-world bank,
whereas the deposits are no longer actual currencies, but a health
guarantee, and the accounts opened belong to the users' own
tailor-made health circumstance, more suitable for their physical
condition. Moreover, in this cell bank, each user can also
associate the health information and gene reports of their whole
family, which is beneficial to the prompt investigation and
utilization when they themselves or their families require stem
cell transplantation or anti-aging needs. In addition, both parties
shall continue to improve their own technologies continuously,
based on which, the "Color Cell Bank" will also offer services and
information on human cloned organs and cloned hearts. Furthermore,
the "Color Cell Bank" is expected to provide certain help to
hospitals and patients around the world.
Mr. Lucas Capetian, CEO of Color Star, said: "The establishment
of the 'Color Cell Bank' will benefit more people, especially our
users, who not only enjoy the fresh content brought by various
merchants and sections in the Color World metaverse, but also
experience the unprecedented convenience in the health-related
aspects over the platform. We hope that with the continuous
optimization and improvement of the platform, it will bring not
only a colorful life, but more convenient experiences and better
satisfaction."
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.