Color Star Technology Co., Ltd. (NASDAQ: CSCW) Announces that Dubai Education Center Joins Color World, Bringing Online Education Services for Users Globally
Color Star Technology (NASDAQ: CSCW) announced a strategic partnership with Dubai-based U-Shine Education Center to enhance its metaverse platform, Color World. This collaboration aims to develop online education programs utilizing AI and the metaverse. U-Shine specializes in language courses and university application support, targeting diverse residents in Dubai. Color Star will establish a headquarters and virtual conference rooms for U-Shine, expanding its educational offerings. However, the company is facing delays with the latest app version, currently under review by major app stores.
- Strategic partnership with U-Shine Education Center to enhance online educational offerings in Color World.
- Expansion of audience access to education through the metaverse platform.
- Integration of AI into education services, including virtual tutors and classrooms.
- Delays in launching the latest version of the app due to ongoing review by major app stores.
NEW YORK, Feb. 3, 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 ("AI") in the entertainment industry, announced today that U-Shine Education Center, a Dubai-based comprehensive education company, will join its metaverse platform "Color World". After a strategic cooperation agreement has been reached, both companies will utilize the advantages of the platform to develop training and education programs in the Color World.
U-Shine Education Center is a registered and comprehensive education company in Dubai. It provides educational programs in languages, extracurricular tutoring, art courses, and helps students prepare their applications to universities abroad. These services are aimed at Chinese, Middle Eastern, and European residents of all ages in Dubai. They have a team of veteran tutors and a highly optimized education system. At present, spurred on by their consistent growth, U-Shine has decided to partner with Color Star Technology and join the Color World. With the advantages of the metaverse platform and artificial intelligence, U-Shine can open themselves up to new fields. Color Star will construct a headquarter building for U-Shine in Color World and set up virtual conference rooms to help the educators carry out their online education smoothly. At the same time, Color World users can also take part in online learning and social activities. Through Color World, users from all over the world can learn languages, arts, etc., as well as utilize U-Shine's experience in helping students apply for universities abroad. This cooperation will undoubtedly expand U-Shine's audience and also allow more people access to education without leaving their homes.
Lucas Capetian, CEO of Color Star Technology, said: "Currently, we have celebrity lectures covering a wide range of culturally relevant subjects on our platform. However, we are missing content related to overseas study and language courses. U-Shine will fill this gap and enhance upon our online education content. In addition, we will also increase our efforts in this area in the future integrating artificial intelligence into education and further develop virtual tutors, virtual colleges, virtual classrooms and so on."
As the brand new metaverse platform "Color World" features novel contents, Color Star regrets to announce that the latest version of APP is still under review at major App Stores. The company has been in close communication with the relevant App Stores, hoping to pass the review process as soon as possible to introduce the latest App to global users.
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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