NEW
YORK, Nov. 22, 2022 /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
Color Metaverse Pte. Ltd., a subsidiary company of Color Star, has
formally entered into a strategic cooperation agreement with
MOREMOON CARTOON Cultural Diffusion Co. Ltd. (Shenzhen) ("MOREMOON"). The two sides will
collaborate on creating new metaverse contents, metaverse IPs and a
metaverse theme park.
MOREMOON is a cultural diffusion company focused on
self-operation and self-promotion of their original IP, Zombies
Cat. It has already gathered a big public following and established
a market and a customer base. Zombies Cat is a geeky alien hailing
from the fictional planet ZC66. A deceptively evil-looking
alien who is actually kind-hearted, Zombies Cat, devours negative
energy, with a unique pair of eyes that can discern negative energy
in humans. Zombies Cat can also spontaneously transform into a
fighter, mage, or healer in order to protect humans, accompanying
them through times of peril and difficulty. Understandably so, the
Zombies Cat IP was warmly received at launch by both the younger
demographic and the market. Since its inception in 2013, Zombies
Cat has licensed products in over a hundred different categories
including clothing, 3C products, home furniture, luggage bags, teas
and beverages, fast-moving consumer goods, dolls, and so on. They
are sold in thousands of physical partner stores and nearly 100
specialty stores in high-end shopping centers. The negative-energy
devouring Zombies Cat has become a highly sought-after IP and
beloved by the younger generations in Asia, making it one of the most promising and
popular original IPs in the region.
Zombies Cat is joining the ColorWorld Metaverse platform ("Color
World") to not only set up its own metaverse headquarters, but also
to collaborate with Color Star's team of developers to create the
world's first Zombies Cat theme park in the metaverse. The concept
is similar to that of Disneyland, to dedicate an entire area to the
Zombies Cat IP, fully equipped with roads, restaurants, theme
parks, virtual characters, etc. The establishment of the theme park
will allow Color World to attract users around the world with an
interest in animation, art and quirky original characters. Digital
products and experiences in Color World can be accessed by spending
Color Coins. This partnership with Zombies Cat will undoubtedly
kick-start Zombies Cat's metaverse career, and also give the
company an opportunity to announce itself to the rest of the
world.
By creating the first metaverse theme park, Color Star once
again highlights the futuristic and innovative direction that the
Color World metaverse is taking, whilst also capturing more public
attention. By creating a theme park based on an existing IP, Color
World is pioneering a new concept for metaverses. A large number of
users will come to experience the theme park out of curiosity,
allowing companies to continuously create new digital products and
virtual scenes to increase profits. Color Star can also quickly
increase their user count through converting fans of Zombies Cat
into Color World members, in addition to the incoming flow of fans
from the other segments of the platform. These circumstances will
allow Color World to continuously improve its user experience and
allow more businesses to see the business potential in the
metaverse and join the platform.
About Color Star Technology Co., Ltd.
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.
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.