NEW
YORK, May 17, 2023 /PRNewswire/ -- Color Star
Technology Co., Ltd. (Nasdaq: ADD) ("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 that
its subsidiary, Color Metaverse Pte. Ltd., has entered into a
strategic cooperation agreement with Korean company WannaVerse,
Inc. ("WannaVerse"). In the future, the two parties plan to deepen
their cooperation on related businesses such as ColorWorld
Metaverse ("Color World") and enter into a definitive written
agreement. Color Star plans to continue strengthening its
international relations and making big moves in both the online
software space and offline large-scale events this year.
Color Star and WannaVerse plan to cooperate in the field of
development of metaverse software and other related segments. Color
Star plans to ramp up its software research and development
efforts, as well as its sales of related products this year. At the
same time, with the revival of the live events industry, Color Star
will begin to promote its brand and products within the market.
Color Star has always been involved in the global market, and Color
Star's current development trajectory involves diverse offline and
online projects suitable for the global market economy.
Continuously working with international companies will benefit
Color Star's business development in different countries and
regions around the world. At the same time, Color Star plans to
continue to update Color World, as well as focus on the sales and
releases of a wide range of products such as celebrity merchandise
and exclusive NFT products, leveraging its cooperative
advantages.
Color Star's CEO, Louis Luo,
said, "Recently, we have made some big moves. In just the past two
months, we have held multiple performance events in Asia and Europe and announced many new partnerships
with international corporations. We are fully on track with our
plans in terms of business development. We will fully commit on
both online and offline segments, especially focusing on the live
performance market."
Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 and
www.colorstar.investorroom.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 ADD 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.