NEW YORK, March 30, 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 ("AI") in the entertainment industry,
announces today its wholly-owned subsidiary Color Sky Entertainment
Ltd. has reached a strategic agreement with Xing'ao Family Office
("Xing'ao"). Xing'ao will join Color World's metaverse platform,
opening a virtual headquarters, and will continue to develop a
series of wealth management sectors with "metaverse" as the
core.
Xing'ao aims to customize its full range of wealth inheritance
and family affairs solutions for ultra-high net worth clients, such
as family trusts, family funds, family investment banks, family
strategy consulting and private jet travel. Today, Xing'ao is
expanding its reach, diversifying into new markets, such as the
metaverse, to target more ultra-high net worth groups around the
world.
Xing'ao has joined the Color World metaverse platform and will
establish a virtual headquarter office. At the same time, more
physical sectors will be opened on the platform in the form of
virtual presentation. While facing global users, Color Star will
also continue to improve the application technology of Color World,
which provides support for Xing'ao's wealth management in the
metaverse.
Lucas Capetian, CEO of Color Star commented, "Color World is an
interactive platform with the metaverse as its core highlight. We
believe that the future economic environment must be a
multi-economy that integrates the Internet and the entity
industries. Therefore, metaverse emerges in time, and will become a
new business market environment, which is illustrated by the many
large enterprises that have already settled into our metaverse
platform, established the metaverse headquarters, and issued NFT.
Xing'ao's presence will add fund management to the mix with
anticipated upgrades over time, ultimately creating a full-service
wealth management offering within the Color World platform. We
believe that this cooperation between Color Star and Xing'ao will
also provide a model for more wealth management companies to
follow, which we also believe will attract additional wealth
management companies to enter our platform."
As a technology-based, globally operating company with
artificial intelligence as its core technology, Color Star's Color
World application is a metaverse interactive platform built with
future elements and AI technology. The self-test version has been
recognized by millions of users and drawn the attention of
cooperative enterprises after its release in the Apple and Android
app stores, based on which, the cooperation between the two parties
will become even more powerful.
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.