NEW YORK, March 25, 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 ("AI") in the entertainment industry,
recently officially announced the establishment of its Singapore subsidiary, Color Metaverse Pte. The
subsidiary will be fully focused on developing its business of
digital commerce and products in the metaverse. This indicates that
Color Star will be furthering its development into its core
businesses through specialist subsidiaries.
Color Star is a global company with its main focus set on
developing high technology. It currently has its own teams of
experts operating in Europe,
America, the Middle East, and
Asia. In order to better
facilitate the development and management of its business, it has
set up subsidiaries in various countries. Each subsidiary is
responsible for a section of Color Star's commercial operations.
The establishment of the Singapore
subsidiary also heralds the beginning of the AI digital economy
era, with the Color World metaverse platform as the starting point.
The Singapore subsidiary will
focus on combining digital merchants, digital products and the
metaverse platform, providing an all-inclusive technology platform
for retailers and members worldwide.
Furthermore, the establishment of the Singapore subsidiary also provides a positive
boost to the expansive global network of the parent company, Color
Star. Singapore has a unique
advantage in terms of location, business environment, and
technological advancement. Color Star will focus on Singapore in the future, linking together
global technology and AI development. It is without a doubt of
extraordinary significance for Color Star and the Color World
metaverse to work in tandem with the world's cutting-edge
technology. The Asian version of Color World will soon be launched,
and consequently the number of Southeast Asian users and businesses
will increase significantly. Users in Europe, America, the Middle East and Asia will be closely connected through the
digital platform, bypassing geographical restrictions, and the
advantages are especially obvious in the current unstable economic
environment caused by the pandemic.
Lucas Capetian, CEO of Color Star states: "The establishment of
the Singapore subsidiary is proof
that Color Star has made significant progress since the
business transformation, which is also proof that shifting our
focus onto the metaverse was the correct decision. On the other
hand, we will be bringing changes to the concept of traditional
physical stores through our development of digital integration,
which will very likely see success, and not only for the cultural
entertainment industry. As a technology company, we are also bound
to further develop each of our individual commercial ventures, so
that our partners and shareholders can see that Color Star is a
company capable of infinite possibilities and instant results. They
will believe that we will be better and better in the future by
witnessing our results and successes."
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.