Color Star Technology Co., Ltd. (NASDAQ: CSCW) Launches Non-Fungible Token (NFT) for Music Copyrights
Color Star Technology (NASDAQ: CSCW) announced its music copyrights will be launched as non-fungible tokens (NFTs) on its Color Star APP platform. This initiative aims to utilize blockchain technology for enhanced protection of creators' rights. CEO Basil Wilson emphasized the company's adaptation to the entertainment industry's online shift, highlighting ongoing efforts to acquire diverse copyrights and develop innovative entertainment technologies, including AI and virtual reality. The platform is currently available for download on major app stores.
- Launch of music copyrights as NFTs, enhancing creator rights protection.
- Expansion of copyright library through acquisitions of music, movie, and TV rights.
- Investment in developing AI, augmented reality, and virtual reality technologies.
- None.
NEW YORK, Sept. 7, 2021 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company focusing on the application of technology and artificial intelligence (AI) in the entertainment industry, recently announced that all music copyrights on its celebrity interactive platform, Color Star APP, will be launched in the form of non-fungible tokens (NFTs).
As an entertainment technology company, Color Star is committed to combining advanced technology and AI with an entertainment focus. The Company makes full use of blockchain technology to encrypt copyrights of music, content, and videos to maximize the protection of creators' rights and interests. With the great efforts and hard work of Color Star's NFT R&D technical personnel, the Company has completed the production of its music copyrights in NFT form, with original music works to be introduced to the market soon after.
Mr. Basil Wilson, CEO of Color Star, commented: "Traditionally, the entertainment industry has mainly operated offline. However, since the pandemic, Color Star has worked hard to evolve and adapt to the changing landscape of entertainment. We have been working tirelessly to develop and expand the Company's offline entertainment products and services through scientific and technological means to create an exceptional online experience for our users. Color Star has also been vigorously acquiring music, movie, and TV copyrights to make our copyright library more complete and diverse. While increasing our ownership of original works, we are using NFT technology to launch these copyrights, allowing better protection for authors and purchasers. We have also signed cooperation agreements with many professional NFT institutions around the world, and will launch more NFT entertainment products for our users to choose from in the future."
The various entertainment technologies that Color Star is currently developing all have the focus of making entertainment a more enriching and realistic experience. The Company continues to invest in development and research in the fields of AI, augmented reality (AR), virtual reality (VR), and NFT, and believes that in the future, Color Star will create better products and services to enhance its users' experience. The Color Star APP can now be found and downloaded in both the Apple Store and Google Store.
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; 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.
For more information, please contact:
William Tu
Skyline Corporate Communications Group, LLC
One Rockefeller Plaza, 11th Floor
New York, NY 10020
Office: (646) 893-5835
Email: wtu@skylineccg.com
View original content:https://www.prnewswire.com/news-releases/color-star-technology-co-ltd-nasdaq-cscw-launches-non-fungible-token-nft-for-music-copyrights-301369973.html
SOURCE Color Star Technology Co., Ltd.
FAQ
What is CSCW's latest announcement about NFTs?
How is Color Star adapting to the entertainment industry?
What technologies is Color Star developing?
Where can I download the Color Star APP?
