NEW
YORK, May 30, 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, today has announced its
official partnership with The World Boxing Association ("WBA") to
host the "Color Cup WBA World Boxing Championship" in multiple
regions and countries worldwide. This marks Color Star's first time
hosting an internationally recognized boxing event as the
organizer. The first stop of the championship will be held in
Dubai in July 2023, and many more related events are
planned for the future. Once the competition kicks off, we expect
to see increases in business collaborations and economic benefits
to Color Star, and also signifies that we plan on not only engaging
in entertainment performances but also expanding into other
high-profile sporting events.
The "Color Cup WBA World Boxing Championship" will not only
promote the influence of WBA and the sport of boxing on a global
scale through the competition, but also provide various commercial
profits through on-site live broadcasting, online broadcasting,
exclusive NFT tokens, and business partnerships.
Liu Gang, the other collaborator
of this competition and an internationally renowned boxing
promoter, stated, "Boxing, as a sport, has an extraordinary impact
worldwide, and all the participants in this competition are top
international boxers, making it even more appealing and
professional. Due to the pandemic, many outstanding professional
boxers were unable to participate in such prestigious competitions
before. Our competition will not only provide them with a stage of
honor, but also bring them unlimited business opportunities. As for
the competition itself, it is one of the most attractive events
after the pandemic, and more business partners will collaborate
with us, allowing the brand and economic values of this competition
to go hand in hand."
As the most prestigious, longest-established, and oldest
authoritative world boxing organization in the world, the WBA has
members from 167 countries and regions, and its gold champion belt
is regarded by boxers as a symbol for a world boxing champion. Many
famous boxing champions today were once WBA champions, such as
heavyweight champions Muhammad Ali,
Mike Tyson, and Lennox Lewis, and middleweight champions Oscar
De La Hoya and Bernard Hopkins.
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 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.