NEW YORK, March 1, 2022 /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 Galtiscopio Gatti
("Galtiscopio"), a luxury women's watch brand from France, has officially entered the Color World
metaverse platform. Color Star will assist the brand in its online
brand marketing and help the company seize the new market
opportunities presented by the metaverse.
The launch of the beta version of Color World towards the end of
January garnered the attention of many. Despite it being an
unfinished beta version, the virtual world and virtual characters
received unanimous public recognitions and approval. As a metaverse
that aims to bring real world settings into the virtual world,
Color Star has allocated significant amount of time and manpower on
the research and development. To provide users with more virtual
locations and cultural experiences, real-world stars and businesses
have successively "entered" Color World by having their virtual
counterparts represent them in the metaverse, breathing life into
the virtual world. The stance of Color Star is very clear: "Color
World" is an interactive variety entertainment platform with
technology and artificial intelligence as its main focus. The
in-app economy is also a major focus, to ensure that virtual
businesses and app users are both benefitting and influencing each
other. Businesses rely on users to market their brand, whilst users
rely on businesses to provide them with tailor-made products and
services, thus achieving a close-loop marketing strategy. This is
what Color Star hopes to see and will most likely also be a major
selling point of Color World.
This partnership between Color Star and Galtiscopio was sparked
by the French brand's impressive growing stature amongst the many
international fashion brands. Galtiscopio began by selling
tailor-made watches to celebrities and later on it became known to
the public and opened up to the mass market. Galtiscopio's wrist
watches were created with the concept of "Time To Enjoy Time" in
mind. The three-dimensional design of the watch face oozes
playfulness and designs will continue to take on the creative style
of the endless sky, creating infinite possibilities and crafting a
brand-new definition to the concept of time. Today, the watch brand
has become the fashion darling of many celebrities. After the
launch of "Color World", the technical team of Color Star will
create a [3D flagship store] for Galtiscopio [NTD: do you mean
virtual / online store? If so, please revise accordingly otherwise
it sounds like there will be a physical store]. Furthermore, the
team will assist the brand with their online sales. Not only can
users inspect the watches in great detail in VR, but they can also
make purchases without stepping outside their homes. More
importantly, in addition to physical products, all future designs
and watch models can be sold in Color World. This will be a focal
point in the future development of business marketing for Color
World and resident businesses.
Lucas Capetian, CEO of Color Star Technology, said: "French
brand Galtiscopio Gatti has already established itself as a luxury
brand with a respectable level of influence and fans' base; this is
also good publicity for Color World. At the same time, we will
begin exploring ways of carrying out in-depth cooperation in regard
to digital marketing, including digital products, etc. Ultimately,
online sales and offline sales will combine into one, allowing us
then to set our sights on the international market; these are all
fantastic prospects. As more and more businesses land on our Color
World and grow in popularity, our users count will increase
perpetually, bringing in more and more consumers to these
businesses in the metaverse".
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.