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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 successfully completed a registered direct offering, raising approximately $10 million. This offering included 25 million ordinary shares and 25 million warrants, sold at a price of $0.4 per unit. The funds will be allocated for general corporate and working capital purposes. The offering was facilitated by Maxim Group, LLC and was conducted under an effective shelf registration statement with the SEC. Details can be found in the filed prospectus supplement.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced the entry of the Asian trendy clothing brand Unbounded Human onto its Color World metaverse platform. This marks the first high-end Asian clothing brand in the metaverse, enhancing Color Star’s corporate branding and global marketing efforts. Unbounded Human focuses on creating stylish yet comfortable fashion, appealing to Asian celebrities. CEO Lucas Capetian highlighted that the metaverse provides various business opportunities, and as the platform grows, online sales and virtual product sales will be launched to enrich the shopping experience.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) has announced a securities purchase agreement for a registered direct offering of ordinary shares and warrants, priced at $0.40 per unit. This will generate approximately $10.0 million in gross proceeds, with the issuance of 25 million ordinary shares and the same number of warrants. The net proceeds will fund general corporate purposes. The transaction is expected to close around February 24, 2022, subject to customary conditions.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced a partnership with Jilin Great World Aviation Service to launch a virtual ticketing hall on its Color World APP. This collaboration aims to enhance business tourism and hotel services through a metaverse platform. Jilin World has a strong presence in travel services in China, and the partnership intends to leverage both companies' user bases for mutual profit. They plan to introduce various discounts and immersive experiences via AR technology, enhancing the customer experience in the travel and entertainment sectors.
Color Star Technology Co. Ltd. (NASDAQ: CSCW) announced that its entertainment metaverse software, Color World, is now available for download in the Android App Store. Following its launch on iOS, it has garnered over three million downloads globally. The app is accessible in over 175 countries and includes social features, conferencing, celebrity interactions, and a marketplace. Color Star aims to enhance functionality through user feedback. The company operates within the online entertainment and music education sectors, emphasizing the integration of AI in its offerings.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced the imminent release of a localized Asian version of its entertainment metaverse, Color World. Following over one million downloads of the original app, the Asian version will support simplified and traditional Chinese, Japanese, and Korean. It aims to enrich user experience with features like Asian celebrity content, virtual meet-ups, and concerts. The app will be available on both Apple and Android platforms. Regular updates are planned to include new in-game areas, enhancing engagement for global users.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced that Lang Xian Catering, a renowned catering brand in Dubai, will be featured in the beta version of its metaverse platform, Color World App, launching on January 28, 2022. This collaboration aims to enhance the customer experience by integrating online ordering and offline interactions. Lang Xian Catering's presence marks a significant step for Color Star in attracting more corporate brands to the platform, enriching user engagement through virtual transactions and live events. CEO Lucas Capetian emphasized the potential for increased business opportunities for both companies.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) announced the availability of its entertainment metaverse software, Color World, for download on Apple's iOS App Store as of February 7, 2022. This public beta version features in-game social interactions, long-distance conferencing, celebrity engagements, and a marketplace. The Android version is expected soon. The company aims to gather user feedback to enhance functionality and improve user experience. Color Star focuses on integrating technology and AI in the entertainment and education sectors.
Color Star Technology (NASDAQ: CSCW) announced a strategic partnership with Dubai-based U-Shine Education Center to enhance its metaverse platform, Color World. This collaboration aims to develop online education programs utilizing AI and the metaverse. U-Shine specializes in language courses and university application support, targeting diverse residents in Dubai. Color Star will establish a headquarters and virtual conference rooms for U-Shine, expanding its educational offerings. However, the company is facing delays with the latest app version, currently under review by major app stores.
Color Star Technology Co., Ltd. (NASDAQ: CSCW) has announced a strategic agreement with Thailand's The Jade Construction Group. This collaboration will integrate smart technology within the real estate sector, specifically utilizing the Color World app to enhance property sales. The Jade is developing a luxury villa project in Hua Hin with a $60 million investment. The partnership includes creating a virtual headquarters and employing VR for property showcases, facilitating online property sales during the pandemic. However, the latest Color World app is still under review by major app stores.
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