NEW YORK, Sept. 14, 2021 /PRNewswire/ — Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company focusing on the application of technology in the entertainment industry, today announces the launch of the first-edition artificial intelligence (AI) system on its global celebrity interactive platform, Color Star APP.
The current AI created by Color Star will focus on developing specific character images, where a particular image will be based on each registered user’s published works on the Color Star platform, including his or her music, dance, film, and animation works. This AI technology will also include capabilities and functions that can be used in the upcoming Color Star "map", where users can shop, travel, and conduct business negotiations in virtual reality. The first-edition AI images launched will offer more than 1,000 image choices, and the scale of choices is still being expanded. In the future, more images will be launched for users to choose from.
Always committed to the application of entertainment technology, Color Star has continuously incorporated newer scientific and technological concepts into the Color Star APP software, combining entertainment with technology. With the launch of AI, the "parallel universe" concept espoused by the Company will gradually come to fruition. In the future, Color Star will further realize the concept of parallel universe through the implementation of augmented reality (AR) technology, which will allow a user to watch an online performance as if it were live. Users will also be able to interact and communicate with their favorite celebrities, and undertake activities such as shopping and business negotiations, all without leaving home. In addition, AI images in the Color Star APP will be used to represent and identify individual users on the internet. Through AI technology, one can overcome the limitations of reality, such as time, location, occupation, life circumstances, and so forth. Instead, each user will be able to create his or her own virtual universe with social interactions.
Mr. Basil Wilson, CEO of Color Star, commented: "Color Star has been making great efforts to develop products that can be combined with entertainment. For this purpose, we have set up a research and development base in Dubai. The Company’s AI system has completed its first phase of testing and application, with related products to be launched in succession; the new AR vision intelligence system currently under construction will also be launched in sequence. In the future, users will be able to realize a different self through Color Star regardless of their situation in the real world. This was one of our original goals in striving to create a parallel universe for our users."
Color Star APP is currently available for direct download in both the Apple Store and Google Store. As Color Star’s applications are launched in batches, the Company believes it will bring more pleasant surprises and experiences to its global users.
About Color Star Technology
Color Star Technology Co, Ltd. (Nasdaq CM: 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, 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; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market in China and other countries 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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