NEW YORK, April 25, 2023 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, announces today that it will soon be launching Color Band, a virtual music band created by combining artificial intelligence (AI) and infrared (IR) technology.
Digital illustration of Color Band's lineup of virtual musicians.
The band, which is being developed by the company's Dubai-based R&D team, incorporates advanced AI technology to allow communication with people. It also features new breakthroughs in characterization and dynamic movements based on IR technology. The Company has invited top global music producers and songwriters to write an album for Color Band to record and perform. Color Band was made available to the world on the company's app 'ColorWorld Metaverse' on 18 April 2023.
Miller, CTO of Color Star, said, "Color Band is the result of over a year's worth of research and development by our R&D department. We purchased a state-of-the-art AI model to integrate with the band so that real musicians, songwriters, and fans can interact and communicate with the band. In the future, we will invite all users to send us their designs for the band's clothing, accessories and peripherals. We will also invite musicians and songwriters to pitch their musical works for a chance for the band to perform them. All registered Color World users can leave name suggestions for the band members and the Company will select the most popular and fitting entries.
About Color Star Technology Co., Ltd.
Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 Metaverse Pte. 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 and www.colorstar.investorroom.com.
Forward-Looking Statement
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, 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 ADD 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.
