NEW YORK, Jan. 7, 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 in the entertainment industry, announced today that on January 30, 2022, the company will launch Color World auto non-fungible token ("NFT") generation system to create an NFT-concept ecosystem.
Color World is an entertainment metaverse platform that integrates sectors such as entertainment, social networking, games, interactions with celebrities and many more features. Currently, the Company has developed a brand-new NFT auto-generation system. Once logged in, all registered users can automatically generate their own NFT products from the songs, dances, musical performances, and other activities done by their avatars in Color World, the copyrights of which will be owned by the users themselves. In addition, users can design their avatars' clothing, cars, housing, and other products, all of which can be self-generated as NFT products, and the users will be the copyright owners. Through this self-service software, Color Star hopes that more users can learn about NFT products and get more copyright revenue while encouraging more original creators to generate their very own NFT products through Color World entertainment metaverse.
Sir Lucas Capetian, CEO of Color Star, comments, "Color Star believes the cultural and entertainment industry is most suited for the development of NFT products, especially for the protection and promotion of the works by original creators. With easy steps, we hope this auto NFT generation system can help more users and creators to turn their works into NFT products without all the complex procedures. We also encourage creators to sell their NFT products in the global market to individuals, and companies alike. We hope more creators can safeguard their copyrights and interests through this product."
The NFT auto-generation system can be used in Color World for audio, video, images, and texts. It is believed that the product will attract copyright authors and original works from all over the world, and it will greatly enrich the user base and content of Color World.
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.
