PRESS RELEASE —NEW YORK, March 1, 2022 /PRNewswire/ — Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as “Color Star” or the “Company”), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence (“AI”) in the entertainment industry, announced today that Galtiscopio Gatti (“Galtiscopio”), a luxury women’s watch brand from France, has officially entered the Color World metaverse platform. Color Star will assist the brand in its online brand marketing and help the company seize the new market opportunities presented by the metaverse.
The launch of the beta version of Color World towards the end of January garnered the attention of many. Despite it being an unfinished beta version, the virtual world and virtual characters received unanimous public recognition and approval. As a metaverse that aims to bring real-world settings into the virtual world, Color Star has allocated a significant amount of time and manpower on research and development. To provide users with more virtual locations and cultural experiences, real-world stars and businesses have successively “entered” Color World by having their virtual counterparts represent them in the metaverse, breathing life into the virtual world. The stance of Color Star is very clear: “Color World” is an interactive variety entertainment platform with technology and artificial intelligence as its main focus. The in-app economy is also a major focus, to ensure that virtual businesses and app users are both benefitting and influencing each other. Businesses rely on users to market their brand, whilst users rely on businesses to provide them with tailor-made products and services, thus achieving a closed-loop marketing strategy. This is what Color Star hopes to see and will most likely also be a major selling point of Color World.
This partnership between Color Star and Galtiscopio was sparked by the French brand’s impressive growing stature amongst the many international fashion brands. Galtiscopio began by selling tailor-made watches to celebrities and later on it became known to the public and opened up to the mass market. Galtiscopio’s wristwatches were created with the concept of “Time To Enjoy Time” in mind. The three-dimensional design of the watch face oozes playfulness and designs will continue to take on the creative style of the endless sky, creating infinite possibilities and crafting a brand-new definition of the concept of time. Today, the watch brand has become the fashion darling of many celebrities. After the launch of “Color World”, the technical team of Color Star will create a [3D flagship store] for Galtiscopio [NTD: do you mean virtual/online store? If so, please revise accordingly otherwise it sounds like there will be a physical store]. Furthermore, the team will assist the brand with their online sales. Not only can users inspect the watches in great detail in VR, but they can also make purchases without stepping outside their homes. More importantly, in addition to physical products, all future designs and watch models can be sold in Color World. This will be a focal point in the future development of business marketing for Color World and resident businesses.
Lucas Capetian, CEO of Color Star Technology, said: “French brand Galtiscopio Gatti has already established itself as a luxury brand with a respectable level of influence and fans’ base; this is also good publicity for Color World. At the same time, we will begin exploring ways of carrying out in-depth cooperation in regard to digital marketing, including digital products, etc. Ultimately, online sales and offline sales will combine into one, allowing us then to set our sights on the international market; these are all fantastic prospects. As more and more businesses land on our Color World and grow in popularity, our users count will increase perpetually, bringing in more and more consumers to these businesses in the metaverse”.
About Color Star Technology
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.
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, 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 a 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.
SOURCE Color Star Technology Co., Ltd.