Color Star Technology Co., Ltd. (NASDAQ: CSCW) Will Soon Release its First Non-Fungible Token (NFT) Music Album
Color Star Technology Co., Ltd. (NASDAQ: CSCW), an entertainment technology company, announced the upcoming release of its inaugural music album in non-fungible token (NFT) format. This album will feature contributions from global artists and aims to create a unique audiovisual experience for music lovers. With the growing NFT sector, the company is leveraging its technology to innovate in the entertainment space. The album will be presented on Color Star’s interactive platform, and is currently in the song collection phase. CEO Basil Wilson emphasized the potential of NFTs in transforming the entertainment industry.
- Launch of the first NFT music album, potentially expanding market reach.
- Collaboration with international artists could enhance brand visibility.
- Innovative approach to integrating technology and entertainment may attract new users.
- Dependence on the success of the NFT market, which is volatile.
- Initial phases may lead to delays or complications in song collection.
- Uncertain market acceptance of NFT products in entertainment.
NEW YORK, Sept. 9, 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, today announces the creation of a music album that integrates the works of European, American, Asian, African, and other regions' artists in one album, to be released in non-fungible token (NFT) form.
As an entertainment technology company, Color Star has always strived to apply technology to entertainment. The Company's NFT R&D department has been making continuous advancements and has successively launched various NFT entertainment products. The creation of this NFT music album is a new attempt that will unite celebrities, music producers, music creators, and bands from around the world in a concerted effort to create new music. After review, the music album will be launched on Color Star's global celebrity interactive platform, Color Star APP. Color Star believes that the creation of NFT music album will be a milestone in creating a new audiovisual experience to be enjoyed by music lovers around the world. Color Star is currently in the stage of collecting songs for the music album.
Mr. Basil Wilson, CEO of Color Star, commented: "We believe that entertainment industry is among the most suitable fields for the application of NFT. Be it music or videos, they can all be created in NFT form for product release. With in-depth understanding of the entertainment industry, Color Star is developing and creating not only NFT music albums but also the first NFT movie and TV series. We hope that through advanced technology, more people in the entertainment industry will embrace the new change made possible by application of NFT. This NFT music album will include eight songs created by musicians from around the world. We believe this music album will introduce everyone to a brand new musical concept."
Color Star is committed to creating advanced entertainment technology and believes that technology will bring better and more enriching entertainment products to the market, while also giving creators of entertainment and ordinary entertainment enthusiasts the means to bring their original works to the world via Color Star's platform, Color Star APP.
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
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SOURCE Color Star Technology Co., Ltd.
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