Color World Opens Shopping Mall, Metaverse Introduces New Method of Entertainment Shopping

Rhea-AI Summary

Color Star Technology Co., Ltd. (Nasdaq: CSCW) announced the upgrade of its metaverse software, Color World, enhancing user experience and introducing flagship stores like "San Si Yi Ting." This migration allows brands to utilize new marketing models in a metaverse shopping environment. The platform, available on Android and Apple, has over a million users, indicating significant growth potential. CEO Lucas Capetian highlighted the improved user experience and ongoing migration of businesses, emphasizing Color World’s unique offerings compared to competitors.

Positive

• Successful upgrade of Color World metaverse software, enhancing user experience.
• Introduction of flagship stores like 'San Si Yi Ting,' increasing brand partnerships.
• Platform has over a million users, suggesting growth and market potential.
• New marketing models for brands could lead to increased revenue opportunities.

Negative

• None.

NEW YORK, June 14, 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, recently officially announced the successful upgrading of its metaverse software Color World to a new version, which not only enriched and brought new contents to several parts of the application, but also introduced new flagship stores of new business which have migrated into the Color World metaverse app. Among them, the famous tea culture brand "San Si Yi Ting" has already landed in the software and underwent store renovations. In the future, the brand will take advantage of the Color Star team, fully combined with the influence of Color World and its partnered brands, to run a global marketing and brand promotion campaign.

Many businesses partnered with Color Star will migrate into Color World one after another, and users can visit independent online stores of brands just like in an offline shopping mall. On the one hand, companies are more likely to open up to new marketing models for their commercial brands in the global market; on the other hand, Color Star will work with companies to further the development of physical and virtual products (e.g. NFT products), which will bring more profit to the Company.

Lucas Capetian, the CEO of Color Star, commented: "Through the continuous efforts of our technical team in recent months, Color World Metaverse app has received wide recognition from users all around the world, with a stronger and stronger user experience, while also providing us with a lot of improvement suggestions. Businesses are likely to migrate onto our platform, as we are currently among the world's first entertainment metaverse software, and Color World is different from other software in the same genre. We will increase our celebrity resources and well-known commercial brand promotions, moreover, a number of product sales will cover almost all parts of the world. Users can enjoy entertainment and enjoy integrated immersive experiences without having to step foot outside their door. This concept is also the subject of our continuous improvement and focus. We will also try to guarantee that all the products sold on our platform are first-class regardless of quality, price and after-sales service."

Color World metaverse app has been officially launched on Android and Apple application stores (application: color world _ metaverse). The platform has more than a million users, and it will continue to increase significantly. The huge user base allows more and more businesses to see the untapped potential spending power. For this reason, the Color Star business team is working tirelessly with businesses to help them migrate their offline businesses into the metaverse. It is believed that with the continuous improvement of artificial intelligence, the Color World metaverse app will bring new surprises and experiences.

About Color Star Technology Co., Ltd.

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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SOURCE Color Star Technology Co., Ltd.

FAQ

What is the latest update about Color Star Technology (CSCW) metaverse software?

Color Star Technology has upgraded its Color World metaverse software, enhancing features and user experience.

How many users does Color World have?

Color World metaverse app has over a million users.

What brands are partnering with Color Star (CSCW) for the metaverse?

Among the brands, 'San Si Yi Ting' has migrated into the Color World metaverse app.

When was the Color World metaverse software upgrade announced?

The upgrade was officially announced on June 14, 2022.

What potential does Color World offer for businesses?

Color World provides businesses with new marketing models and access to a large user base for brand promotion.