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Color Star Technology Co., Ltd. (Nasdaq: ADD) is an innovative entertainment and education company that harnesses the power of technology and artificial intelligence (AI) to transform the entertainment industry. The company operates globally through its fully owned subsidiaries, Color Metaverse Pte. Ltd. and CACM Group NY, Inc.
Color Star is renowned for its Color World music and entertainment education platform, through which it offers online entertainment performances and music education services. This platform enables users to engage with various educational programs tailored to the entertainment industry, fostering a new generation of artists and performers.
In a recent development, Color Star announced a non-binding letter of intent to acquire over 60% of shares in JingXiang (Australia) Pty. Ltd., a company specializing in digital services for esports hotels. JingXiang provides a supercomputing platform, an esports software as a service (SaaS), and a central reservation system (CRS) for hotels. These services are designed to enhance the gaming experience for hotel guests with features like low-latency streaming, high-definition graphics, and comprehensive room management systems.
JingXiang has acquired significant assets, including 3,000 cloud computer cases and 160+ servers, and holds multiple patents and software copyright certificates. The company's diskless architecture for cloud storage allows remote use of hardware and software, providing flexible storage solutions for end-users. Their CRS platform integrates various functionalities such as merchant integration, transactions, marketing events, and data analysis, creating an exclusive esports ecosystem for enthusiasts.
Color Star's CEO, Louis Luo, emphasizes the company's commitment to expanding into the esports industry. The combination of Color Star's celebrity network with esports events and concerts is expected to create synergies and open new revenue streams.
Additionally, Color Star is making strides in the AI music space with the upcoming release of its first digital music album, "Color World", by its AI virtual band, the Vibrant Music Collective. This album, featuring 12 songs of various genres, showcases the company's cutting-edge AI technology in music production. The band members and the entire performance are AI-generated, marking a significant step in the evolution of virtual entertainment.
Color Star Technology is a forward-looking company that is constantly exploring new avenues in entertainment and technology. For more information, visit their official website at www.colorstarinternational.com and their investor room at www.colorstar.investorroom.com.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced an agreement with NBA Superstar Shaquille O'Neal to release exclusive videos on its Color World platform in September 2021. These videos will feature Shaq's life journey, mental growth, and success insights. This partnership enhances the app's offerings, including a new sports star section aimed at engaging fans. The Color World APP, launched on December 31, 2020, has seen positive reception for celebrity content. CEO Basil Wilson expressed enthusiasm about enriching consumer experiences through technology in entertainment.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announces its collaboration with David Villa Sanchez, a renowned former Spanish footballer, who will serve as a mentor on the Color Star APP platform. This partnership marks Villa as the second sports figure to join after Shaquille O'Neal. Color Star aims to leverage Villa's popularity to attract more users and enhance its global celebrity entertainment offerings. The company continues to expand its reach in the sports sector while promoting cultural and entertainment content on its platform.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced its subsidiary, Color China, signed a letter of intent to acquire shares in Hainan Dadatu Network Technology Co., Ltd. This acquisition aims to enhance collaboration in mobile internet game development and distribution. Dadatu, founded in 2019, has over 10 million users and generated annual net income exceeding RMB 15 million in 2020. The partnership expects to leverage both companies' strengths to innovate and capture a larger market share. This strategic move could significantly impact Color Star's market positioning and value.
On August 24, 2021, Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced a collaboration with NBA legend Shaquille O'Neal, who will serve as a celebrity instructor on its Color Star APP. This partnership, established on March 29, 2021, aims to leverage O'Neal's influence to attract more users and enhance content with basketball expertise. Color Star plans to further engage other celebrities across various industries, aiming for increased app user growth and enriching the platform's offerings through enhanced interactive experiences.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) will present at the Diamond Equity Research Growth Invitational virtual investor conference on August 17, 2021. The presentation is scheduled from 10:20 am to 10:50 am EST, followed by a Q&A session. This event aims to connect small capitalization companies with investors, enhancing visibility for the participants. Diamond Equity Research focuses on high-quality research for emerging growth companies. The CEO, Basil Wilson, expressed enthusiasm for this opportunity to engage with investors.
Color Star Technology (NASDAQ: CSCW) is set to host its inaugural live music concert in partnership with the Dubai Tourism Bureau on July 23, 2021, at the Dubai International Convention and Exhibition Center. With high ticket demand, the concert features prominent artists Aseel Hameem and Walid Al Sham, aiming to attract a substantial audience. The event will utilize augmented reality technology for an enhanced viewing experience, signaling the company's strategic expansion in the Middle East. Color Star plans to conduct over 50 global concerts within the year, boosting its revenue through various channels, including ticket sales and advertising.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) has announced a live music concert in cooperation with the Dubai Tourism Bureau on July 23, 2021. This concert, held at the Dubai International Convention and Exhibition Center, marks the Company's first live event in the Middle East. Color Star plans to resume live concerts globally, with over 50 concerts scheduled in the next year. The Dubai concert will utilize augmented reality technology for real-time audience interaction via the Color Star APP. The CEO expressed confidence in a robust rebound of the live concert business post-pandemic.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) reported a remarkable performance in the first half of 2021, with revenues exceeding $3 million and profits reaching $1.5 million from its Color Star APP platform. Launched on December 31, 2020, the platform has successfully hosted numerous online celebrity performances, capitalizing on the shift to online entertainment during the pandemic. CEO Basil Wilson expressed optimism about future growth, focusing on integrating advanced technologies like 3D and VR to enhance the viewer experience.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) has been added to the Russell Microcap® Index as of June 25, 2021. CEO Basil Wilson highlighted that this inclusion reflects the company's growth potential and is expected to enhance its reputation and visibility in the investment community. The Russell Indexes are widely used by institutional investors, with approximately $9 trillion in assets benchmarked against them. Membership will provide Color Star with access to automatic inclusion in growth and value style indexes, lasting for one year.
Color Star Technology Co. Ltd. (NASDAQ: CSCW) has announced the opening of CLUB-Nebula in Times Square, New York, scheduled for September 2021. This venue will also see the launch of its consumer non-fungible token (NFT), touted as the world's first club NFT. Nebula, accommodating up to 1,000 guests, features advanced audio-visual technology and will host performances by renowned artists. The NFT auction is set for July 2021, offering bidders unique privileges and exclusive services. CEO Basil Wilson highlighted this venture as a fusion of entertainment and technology.
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