Color Star Technology Co., Ltd. (NASDAQ: CSCW) Signs Cooperation Agreement with National Glory Holdings Limited to Develop Industry Platform for Metaverse and NFT Products
NEW YORK, Nov. 16, 2021 /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, today announced that the Company formally signed a memorandum of cooperation with National Glory Holdings Limited (“National Glory”). Color Star and National Glory will conduct in-depth cooperation on metaverse and non-fungible token (NFT) related business sectors.
National Glory is an international investment holding company that focuses on real estate, venture capital, and the development and utilization of blockchain technology. The cooperation between Color Star and National Glory will leverage each other’s advantages to develop and utilize augmented reality (AR) and virtual reality (VR) technologies to build an industry platform, bringing more innovations and advancements to metaverse and NFT products. The cooperation will help enhance the Company‘s international business network. Color Star has already successfully released several NFT products, metaverse interfaces, and virtual characters previously.
Mr. Basil Wilson, CEO of Color Star, commented: “Color Star’s business has often centered around entertainment technology, and this cooperation with National Glory will help integrate our respective business offerings in the future. National Glory has strengths in building industry platform technologies, and it has great influence in the Middle East. National Glory’s strengths will help Color Star in research, development, and promotion of more metaverse and NFT products. In addition, as Color Star’s business continues to expand and its market value continues to increase, we believe that the Company is building up momentum and entering a phase of rapid growth.”
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: 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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