Color Star Will Expand on Combat Sports Content as TL Boxing Promotions Begins a Strategic Cooperation with Color Metaverse
Color Star Technology Co., Ltd. (Nasdaq: ADD) has initiated a strategic partnership with TL Boxing Promotion to enhance its entertainment offerings. The collaboration will leverage Color Star's ColorWorld Metaverse platform to introduce boxing content and establish a dedicated metaverse headquarters for TL. This partnership aims to organize and promote boxing-related events while enhancing user engagement with boxing culture. Following a three-year hiatus due to the pandemic, Color Star plans to resume both online and offline performances. CEO Louis expressed optimism for the company's future, highlighting a focus on sports and cultural activities, and an increase in cooperative efforts with various businesses.
- Strategic partnership with TL Boxing Promotion to expand boxing content.
- Resumption of online and offline performance activities.
- Creation of a tailored metaverse headquarters for TL to promote boxing culture.
- None.
NEW YORK, April 17, 2023 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("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, announces that its subsidiary, Color Metaverse Pte. Ltd., ("Color Metaverse"), has officially begun a strategic cooperation with TL Boxing Promotion ("TL"). Color Star's software, ColorWorld Metaverse ("Color World"), will begin to introduce boxing content, and create a tailor-made metaverse headquarters for TL, and both parties will work together to organize and promote boxing-related events and activities.
TL Boxing Promotion is a Thai sports promotion company specializing in combat training, with a very professional team of coaches who have trained several world-class boxing champions and organized and promoted many important events. As a unique combat sports company, TL hopes to promote boxing culture through more effective cooperation. Color Star's team will build a tailored metaverse headquarters for them, and will introduce TL to Color World and its users, allowing TL to effectively help a large amount of users in understanding boxing culture. Color World is by no means a one-dimensional metaverse software; with artificial intelligence + celebrity entertainment at its core, it has introduced a wide variety of content such as online courses, large performances, cultural and sports sections, and celebrity merchandise. At the same time, Color Star is ready to resume its offline performances business this year following the passing of 3 pandemic-ridden years. In the future, TL and Color Star will focus closely around organizing online and offline boxing-related events and activities.
Louis, CEO of Color Star, said: "This year is shaping up to be a very good year for Color Star. Before the pandemic, our main business revolved around organizing all kinds of live performance events. The pandemic forced the live events industry into hibernation, and consequently forced us to drastically transform as a company in order to create Color World, receiving a lot of recognition from the public in the process. We have officially resumed both online and offline businesses this year. We plan to organize more sports and cultural activities, and engage in strong cooperative efforts to stabilize the company's market value and carry out more business projects. Many excellent businesses have reached out to us, proposing to cooperate, and we are particularly grateful for everyone's firm support. Soon, we will begin to share our major plans for this year one at a time, so please stay tuned."
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 Metaverse Pte. 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 and www.colorstar.investorroom.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 ADD 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.
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