NEW
YORK, Oct. 3, 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 in the entertainment industry, was invited
on the 28th of September to participate in the Dubai Metaverse
Assembly (the "Assembly") organized by the Dubai Future Foundation.
During the Assembly, Color Star actively promoted its metaverse
software ColorWorld Metaverse ("Color World") to the attendees, and
focused on introducing its new "DONO Phone" project.
It is understood that the conference is centered around the
development of industries and sectors involved in the "metaverse
economy", attracting internationally renowned companies and leading
figures to attend. Color Star also made full use of the
high-profile nature of the Assembly to exchange information and
promote the Company's metaverse project with the attendees. Color
Star recently announced its entry into the smartphone business with
the DONO Phone, its first metaverse smartphone, which received
widespread attention from the public. The phone is designed with
the concept of the "metaverse" in mind, and the Color World app
will be pre-installed on each unit. The DONO phone aims to bridge
the gap between users and the virtual world, allowing users to
freely access educational content, digital entertainment, and
virtual communication, unbounded by physical limitations. Color
Star is focused on delivering the best experiences with its
metaverse technology, in addition to developing powerful
cybersecurity technology to protect the privacy and security of its
users. The DONO phone will utilize a distributed file storage
system and a decentralized storage server to make it an almost
impossible task for hackers to compromise. At the Assembly, Color
Star also emphasized that all technology should be based on the
security of the network.
Farhan Qadir, CEO of Color Star,
said: "Color Star is very happy to participate in this Assembly.
Regarding the question of how to develop the metaverse economy and
generate more revenue, Color Star has also been looking for
answers. For example, our Color World combines celebrity
entertainment with artificial intelligence, resulting in near
unlimited room for development and new opportunities for the fan
and digital economy. In addition, through our metaverse DONO phone,
we are announcing to the world that we are about to stimulate the
metaverse to try and help it reach its full potential so as to
further increase the Company's profit and revenue."
About Color Star Technology Co., Ltd.
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.
