NEW YORK, Oct. 5, 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, announced today that it will continue to increase its investment in product development for its key metaverse project.

To date, Color Star has already completed creation of metaverse virtual humans, metaverse simulation scenes, and metaverse virtual reality (VR) and non-fungible token (NFT) scenes. These features will be launched in sequence this month, with interfaces updated accordingly on the Company’s interactive platform, Color Star app. Color Star continues to invest heavily in the research and development of 3D scenes and online VR concert sections, with the 3D version to be applied to online interactive celebrity videos, shopping, and other upcoming projects, to bring online life another step closer to reality.

Mr. Basil Wilson, CEO of Color Star, commented: “Color Star has invested significant financial resources and manpower in the creation of the metaverse project. We not only have our own experimental development base, but also cooperate with top technology companies worldwide to jointly develop new products. At present, the first phase of the Company’s metaverse project is nearing completion. In the next phase, we will continue to develop and improve the visual and audio aspects of Color Star’s metaverse VR scenes, and strive to bring an updated and more perfect online-life experience to our global audiences.”

The Color Star metaverse series is part of the world of online entertainment, where global users can interact with their favorite idols and even use their avatars in the metaverse. Through the Color Star app, users will have access to entertainment, social networking, games and many other functions, all in one place.

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 in China and other countries 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.

View original content:https://www.prnewswire.com/news-releases/color-star-technology-co-ltd-nasdaq-cscw-continues-to-create-new-updates-for-metaverse-project-301392564.html

SOURCE Color Star Technology Co., Ltd.