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.
