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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) has appointed Mr. Basil Wilson as its new Chairman and CEO, effective June 17, 2021. The company, known for its entertainment technology products, has seen significant user engagement on its Color Star APP, boasting 2 million registered users and over 50 million views since its launch in December 2020. Mr. Wilson brings over 15 years of experience in entertainment technology, aimed at enhancing the user experience through augmented reality (AR) products. The former CEO, Luke Lu, will continue as Chief Art Officer, contributing to artistic development.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced the launch of live concert events in Dubai and the United States scheduled for October 2021, coinciding with the resurgence of live events post-COVID-19 vaccinations. The company expects over 100,000 attendees for these music festivals featuring electronic dance music (EDM). CEO Luke Lu highlighted the integration of advanced technology and virtual reality to enhance attendees' experiences, both offline and online. This initiative underscores Color Star's commitment to merging entertainment and technology for improved audience engagement.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced a strategic partnership with Movie Planet LLC and Youa Group to develop NFT applications for the entertainment industry. This collaboration aims to integrate blockchain technology in Hollywood films, TV series, and celebrity products, facilitating copyright sales and consumer engagement. With Movie Planet's extensive film festival database, the partnership intends to create innovative content and educate users on the benefits of NFTs. Color Star's platform currently has over 1.5 million registered members, positioning it to attract more global entertainment enthusiasts.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced its inclusion in the Russell Microcap® Index, effective June 25, 2021. This milestone reflects the company's progress and aims to enhance visibility and liquidity in the financial community. Co-CEO Basil Wilson stated that the membership would introduce a wider investor audience and drive long-term value creation. The Russell Indexes are crucial for investment managers, with approximately $9 trillion in assets benchmarked against them.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) will participate in the Bitcoin 2021 conference from June 4-5 in Miami, Florida. The event aims to reignite interest in Bitcoin, featuring community interactions and entertainment. Co-CEO Basil Wilson highlighted the opportunity for Color Star to engage with blockchain experts and enhance their NFT projects. The company plans to expand its NFT offerings, including exclusive celebrity products, while investing in augmented reality and artificial intelligence to innovate in the entertainment sector.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced a Memorandum of Understanding (MOU) with Movie Planet LLC and Youa Group to develop a non-fungible token (NFT) application for Hollywood Film Festival and International Film Festival databases. This partnership aims to leverage Movie Planet's film copyrights and Youa Group's blockchain expertise. CEO Luke Lu expressed optimism about the collaboration, emphasizing its potential to accelerate technology developments and enhance entertainment copyright exchanges. The company is known for its online entertainment and music education services.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) released forward-looking guidance for its first half 2021 financial report. The company’s Color Star APP is integrating AI and AR to enhance user interaction in a virtual universe. In Q1 2021, they secured agreements in various sectors, increasing online course hits by 63% from 2020, with user registrations surpassing 2 million. Looking ahead, Color Star plans to launch NFT products and establish an intelligent copyright trading platform. They aim to reach 5 million registered users and over 50 million total hits by Q3 2021.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced its plan to sell a portion of the unreleased content from the movie 'Guilt' as a non-fungible token (NFT). This initiative marks the company's first phase in NFT development, aiming to leverage blockchain technology in the entertainment industry. With increasing market activity in NFTs, Color Star expresses optimism in this arena and plans to expand into music and TV copyrights. The CEO, Luke Lu, stated that this move will accumulate experience for future NFT product launches, enhancing the company's technological capabilities.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) presented at the H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. CEO Luke Lu highlighted the company's innovative offerings, including their international APP, AI development, and plans for a dual listing on NASDAQ Dubai. The company focuses on online and offline celebrity events and is expanding its Color World APP from 2D to 3D. Additionally, Color Star aims to boost its global audience through artist tours post-pandemic and has established one of the largest Online Artists Training Academies.
Color Star Technology Co. (NASDAQ: CSCW) announced its compliance with Nasdaq Listing Rules following a 12-month monitoring period. The Nasdaq Panel concluded that the company's securities can continue to be listed, marking a positive outcome for CSCW. CEO Luke Lu expressed satisfaction with the decision, attributing it to operational performance and communication with investors. The matter is now closed, strengthening the company's position on the exchange.
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