NEW YORK, Aug. 23, 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, today announces that it has formed a strategic partnership together with Emirates Travellers' Festival and has held a grand ceremony in Dubai. The event was attended by international leaders from all walks of life, including Awad Mohammed bin Sheikh Mujrin, a member of the Royal Family, and the Korean ambassador to the United Arab Emirates, etc., which made the event a great success.
It is reported that on the day of the event, Mr. Farhan Qadir, the CEO of Color Star, showed his great hospitality to every guest, and also introduced Color Star and the Color World Metaverse software in detail. Muhammad Ahmed Khan, the person in charge of Color Star's technical team introduced the R&D and contents of the Color World Metaverse on stage, and explained the planning and designs of the software one by one, which made the guests feel the strength and professionalism of Color Star. Mr. Qadir said: "As the CEO of Color Star, I am very happy to be able to experience the charm of our metaverse software with everyone here. Under the challenging global business environment, the combination of artificial intelligence and entertainment allows the Company to fully utilize its resource advantages, create a global celebrity entertainment platform, experience the charm of technology in three dimensions, and make more people willing to spend time staying in the world of color, which is very difficult and requires our technical team to be even more excellent and hardworking. So, for the achievement now, I am very thankful for the team's efforts, and as the CEO, I will also be putting more of my business experience and resources into the Company in order to deepen and develop more virtual scenes, NFTs, etc., so that Color Star can occupy the forefront of the technology entertainment world faster and more steadily. I will also give 100% effort to work side by side with my team to make Color World Metaverse better and more comprehensive, and also try to guarantee our market value to increase steadily all the way so that our partners and stockholders can reap more business value."
The partnership between Color Star and Emirates Travellers' Festival was the focus of the day's event. Everyone is also very interested in the future collaborations between the two sides. Next, Emirates Travellers' Festival will be entering the metaverse. The Color Star team will not only design and build the world's first metaverse headquarters for the Company, but also work on more metaverse-related collaborative projects.
The main core of the Color World Metaverse platform lies in artificial intelligence and celebrity entertainment, with a goal to change life through technology. And as such, Color Star will introduce to the world a new unique business model and profit point. Founded in 2012, Emirates Travellers' Festival is the world's largest gathering of travelers and explorers. After partnering with Color Star, the two companies will cooperate not only in travel but also in other businesses, both physical and online.
Color World Metaverse has now successfully attracted many established international enterprises to join its platform and have a corporate headquarters in the metaverse built for them. This has become the biggest feature and highlight of the Color World metaverse. At the same time, the team is actively enriching the contents of the software and introducing the combination of physical and digital products into each enterprise's metaverse headquarters. After logging in, members of the metaverse may choose to consume, shop, or experience all the other entertainment features, all of which will be greatly improved upon to meet everyone's entertainment needs. Moreover, Color Star's aim for its software is very clear: Color World Metaverse has the digital economy as its business focus, so that the business enterprises and users in the metaverse can both benefit from each other. Enterprises rely on individual users for brand digital marketing, while users rely on enterprises to offer a personalized targeted marketing to form a closed-loop chain, which is what Color Star hopes to see, and will undoubtedly become a major selling point in promoting the metaverse. Color World Metaverse is already available on all major app stores. Users can search the name to download the app immediately.
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.