NEW
YORK, Oct. 17, 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 a new strategic cooperation with renowned Thai real
estate company Grand Siri Corporation Co., Ltd. ("Grand Siri").
Grand Siri will join the Company's ColorWorld Metaverse ("Color
World") platform, where Grand Siri will set up a metaverse
headquarter and promote its brand with the help of the platform. In
the future, Grand Siri will list its real estate projects in the
metaverse to meet global housing demands.
Following the metaverse's meteoric rise in popularity and
quantity, metaverses are categorized by industry. However, the real
estate has not been as popular as the other industries. The
fundamental reason is that real estate in the metaverse has only
just emerged, and many concepts and contents are yet to be fully
understood and perfected, resulting in the situation of being left
out. Color Star believes that technology ultimately serves the real
economy and the combination of virtual reality and reality can only
bring stability to the public and profit to the enterprises. For
this reason, Color Star sets up virtual headquarters for businesses
and enterprises, taking the lead in homogenizing real world
businesses and the metaverse, promoting these businesses to users
worldwide. Regarding conversion rates, Color Star will cooperate in
the development of digital products, for example, NFTs, based on
the real-world projects and products of businesses. These digital
products will then be sold in the virtual marketplace. Although it
is a metaverse concept, it is a technological experience with a
physical guarantee for users. Undoubtedly, it is beneficial for
both users and businesses.
Through this cooperation, the two sides will mutually benefit
and help each other make progress in their own businesses. Color
Star will build a virtual headquarter on the metaverse platform
using VR technology to vividly showcase the properties for sale in
full detail. Users will be able to view and purchase
properties online from half the world away, unhindered by the
pandemic. The two companies will be focused on the topics of online
real estate sales, user conversion and diversion, corporate brand
enhancement, etc.
Farhan Qadir, CEO of Color Star,
said: "Color World is a metaverse platform; while providing users
and businesses a complete platform experience, we are looking to
partner with and add value to more businesses. We do this by
combining our platform with real-world products and services. At
the end of the day, technology can not survive solely on its own,
it should be integrated into the real-world, promoting each other
to grow the world economy and its markets."
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 Metaverse Pte. 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.
