Color Star Implements Metaverse Communications to Promote Unique Cultural Traditions
NEW YORK, Sept. 19, 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 in the entertainment industry, recently announced a strategic cooperation with Putian Shan Yun Trade Co., Ltd. ("Shan Yun") to jointly develop cultural traditions on Color Star's ColorWorld Metaverse platform ("Color World"), perpetuating traditional Eastern aromatherapy culture.
Aromatherapy is a part of the traditional oriental culture, which is said to be originated in China during the Spring and Autumn Period and the Warring States Period, and has a history spanning nearly 3,000 years. Aromatherapy is rooted in science, Buddhism and so on, not only as a means to improve the mood and reduce stress, but it also possesses unique religious, cultural, and medicinal uses. Today, with the ease of access to information and social media platforms, the popularity of aromatherapy worldwide has been on the rise. Because of this reason, Color Star cooperated with Shan Yun to further promote aromatherapy all over the world through advanced technology and an advantageous platform, so that more people can learn about aromatherapy and fall in love with oriental culture.
After agreeing to the cooperation, the team at Color Star will design and create a cultural showroom in the metaverse, as well as set up product displays, so that users will be able to experience the culture of aromatherapy online. At the same time, users will be able to purchase incense and other equipment without having to leave their home. As an all-encompassing metaverse platform, Color World will be promoting Oriental culture while incorporating its core principles of "artificial intelligence + celebrity entertainment," by presenting culture to users through realistic AR/VR experiences. In Color World, there are not only international celebrities, games and entertainment, but also major global brands and world culture. This is a testament to the infinite extensibility and presentation of Color Star's metaverse platform.
Farhan Qadir, CEO of Color Star, said: "As a comprehensiv metaverse platform, Color World should not only bring entertainment and business products to its members, but also include the variety of cultures of the world. During the ongoing information age, it is important to highlight the unique cultures of the world in our metaverse. Not only will it allow users to learn and become more aware of the different cultures around them, users will also be able to purchase cultural items that interest them. This is very worthwhile for us to do. With the continuous improvements made by the Color Star team, we will do better and better in terms of graphics quality as well as cultural output, and we hope to give some inspiration to our industry peers. We hope that in the future, the metaverse can play a more useful role in technology, culture, commodities, entertainment, and have more ways of presenting material and content."
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.
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.
SOURCE Color Star Technology Co., Ltd.