NEW YORK, Oct. 6, 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, recently
announced that private aircraft will be available for
purchase in the shopping malls
of their metaverse platform ColorWorld Metaverse ("Color World").
Users will be able to rent, purchase, and sell aircraft online with
the help of VR technology. Color World will become one of the
world's first metaverse platforms to allow users to purchase
private aircraft.
Recently, Color Star has signed a strategic cooperation
agreement with Shenzhen Qianhai Bluejet Aviation Service Ltd.
(hereinafter referred to as "Bluejet"), a company specializing in
global aviation services, and has set up a metaverse headquarter in
Color World. Both companies hope that they will not only be able to
increase each other's brand influence, but also open up infinite
new possibilities within the digital online economy through their
cooperation. With this agreement signed, Color Star now has its
sights on an ambitious long-term goal. The Color Star team has
updated and improved the designs of the Color World app during
previous development and design stages. By cooperating with an
aviation services company, Color Star has now also paved the way
for the aviation industry in the metaverse. From the creation of
the digital headquarter in the early stages all the way to the
inclusion of real-world physical products in the metaverse, Color
Star has been steadily accelerating the development and expansion
of content in Color World. Next, the Color Star team will work to
combine airline ticketing services, hotel services, etc., in order
to create a thriving environment for the aviation industry in the
metaverse.
Farhan Qadir, CEO of Color Star,
said: "When we first began creating the aviation service
headquarter, many people were interested in our project, but what
people were really interested in was how we were going to make the
idea a reality. So now we are about to make the aircraft available
for purchase to all public users. Potential buyers can examine the
products in closer detail through the use of VR. Sellers will be
able to sell aircraft and other related aviation services online as
well as offline. This is just the beginning. Our team is currently
working hard at researching and developing air routes, air
services, etc. Our ultimate goal is to not only allow customers to
enjoy tailored private flight services through our metaverse
platform, but to also provide them with an extensive variety of air
services, air routes, etc. in Color World through the use of AI
technology. We hope to become the first company in the world to
provide such services."
From software applications to real-world enterprises and
products, Color World has covered most of it. Step by step, Color
Star is proving to the world with hard evidence that Color World
will be a revolutionary software platform that could perhaps set a
new level of standards. The metaverse will be an important platform
that will serve as a medium between the virtual world and the real
world, as well as becoming a home for the future developments of
the digital economy. While the world quietly observes the growth of
the metaverse, Color Star has been deeply engaged in research and
development. Frankly speaking, Color Star is focused on working to
increase the amount of time users spend in Color World so that
vendors and merchants can make more profit on the platform. To
achieve this, Color Star is constantly updating, optimizing, and
developing new content for the platform.
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.