NEW
YORK, Dec. 16, 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, announced
that its subsidiary, Color Metaverse Pte. Ltd. ("Color Metaverse"),
has recently signed a strategic cooperation agreement with the
School of Digital Art and Communication of Shandong University of Art & Design
("SDAC" or the "School").
SDAC is an influential art and design institution domestically
and internationally. Focusing on digital art, new media art and
animation photography production, the School has undertaken
numerous major international projects inedu recent years. Namely,
it was tasked with compiling a series of national textbooks, and
has undertaken many major projects for international exhibitions
and other large social events, as well as having designed metaverse
projects for many internationally renowned attractions. It has
subsequently established many partnerships and exchange programs
with other universities and institutions located all around the
world. This partnership with Color World will see SDAC assemble a
professional team to develop the ColorWorld Metaverse ("Color
World") together with Color Star, providing support with regards to
the platform's art, design, and digital technology. Furthermore,
both parties will fully use their respective advantages to develop
new contents and technologies.
As Color Star continues to develop and expand its metaverse, the
content of Color World is becoming more and more refined and rich,
and with it, more and more users. In this regard, Color Star is
increasing its number of partnerships with professional
institutions and universities, in order to further improve the app
and enrich its contents. On the other hand, cooperating with
universities not only enhances the cultivation and funneling of
professional talents and establishes a more permanent and solid
partnership, but also attracts more high-level institutions to
forming partnerships. Color World is definitely not a
one-dimensional metaverse software, and its core of artificial
intelligence + celebrity entertainment will not only attract elite
companies onto the platform, but also attract top-tier universities
and institutions to set up online courses, digital exhibitions and
other related projects on the platform.
Farhan, CEO of Color Star, said, "We are very pleased to enter
into a partnership with SDAC. The partnership will bring fresh new
contents to our metaverse platform. In the future, we plan to
cooperate with more elite institutions to enrich the content of the
platform and increase the amount of student users. Color World will
also introduce more professional courses to provide online learning
opportunities, and we believe that the addition of student groups
will add to the number of users and activities."
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.