NEW YORK, Feb. 1, 2022 /PRNewswire/ -- /PRNewswire/ --
Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter
referred to as "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, announced today that Color Sky
Entertainment Limited, a subsidiary of Color Star has recently
reached a strategic cooperative agreement with The Jade
Construction Group (hereinafter referred to as "The Jade"), who
will become the first international real estate company from
Thailand to join the Color World
app. In the future, the two sides will closely cooperate to
integrate smart technology into the company's development and pave
a new path for the real estate industry.
The Jade is a comprehensive investment management group,
involved in industries such as tourism, construction materials,
import/export, Chinese radio, real estate and other wholly-owned
companies. The cooperation between the two sides focuses on the
real estate industry. Recently The Jade has constructed the largest
recreational independent pool villa area in Hua Hin, Thailand, with an estimated investment of
USD 60 million. So far, 70 buildings
have been completed. As such, The Jade hopes that the rapidly
developing online and smart technologies can facilitate the sales
of these villas in the global housing market. The partnership with
Color Star is considered a win-win.
Color Star currently has a team of some of the world's best
researchers and technology experts, and their independently
developed "Color World" app is a combination of technology and
artificial intelligence. Previously, Color World has already
amassed more than a million users worldwide and the software will
be transformed into a metaverse platform following a technical
update at the end of this month. This also means that "Color World"
will shift focus onto the development of virtual communities and
the commercial operation of virtualized real-world products.
Through close cooperation, both sides will mutually benefit by
leveraging each other's industry advantages to help each other
develop in many areas. This will also hopefully place the two sides
further ahead on the global industry ranking. Color Star will
construct a virtual headquarter for The Jade, while also utilizing
VR technology to vividly display information of properties for
sale. Amidst this current pandemic, users can go through the entire
house-purchasing process, from viewing to paying, all in VR and
without stepping outside their homes. Online real estate sales,
user conversion and flow, corporate brand enhancement, etc. will be
the focus of the cooperation.
CEO of Color Star Technology, Lucas Capetian said, "There is
lots of room for cooperation with The Jade Construction Group due
to their profile as an international company with a presence in
diverse industries. Smart technology is necessary for The Jade if
they are targeting real estate buyers on a global scale. This is
because potential buyers will not have to view properties in
person, and all they need to do is to register as a member. Through
advanced technology, buyers can intimately experience the structure
and layout of a property. Through this service, both companies can
deepen their understanding of their respective products and make
improvements whilst simultaneously promoting their brands. At Color
Star, we believe that Color World is a multifaceted platform. It
does not matter whether it is real estate or other industries and
we will not limit ourselves to one. Furthermore, we want to become
a platform filled with variety of contents and products created by
our users."
As the brand new metaverse platform "Color World" features novel
contents, Color Star regrets to announce that the latest version of
APP is still under review at major App
Stores. The company has been in close communication
with the relevant App Stores, hoping
to pass the review process as soon as possible to introduce the
latest App to global users.
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.