NEW YORK, Sept. 1, 2023 /PRNewswire/ --The Color World Cup - WBA World Tour organized by the World Boxing Association ("WBA") and 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, has reached a perfect conclusion. Spectators were full of praise and appreciation for the high level of boxing and the electric atmosphere in the venue.
Color Star, a publicly traded company in the U.S., combines aspects of entertainment with top-level sports competitions. From intricately designed stage lighting to working with international sporting organizations such as the WBA, Color Star makes sure that every event lives up to its true potential. According to the broadcasting platforms, the number of viewers watching the Color World Cup exceeded 4 million.
The Color World Cup - WBA World Tour is an international boxing event jointly organized by Color Star Technology and the World Boxing Association in 2023, with the first location set in Dubai. The Company made significant efforts towards planning, scheduling, and selecting the venue in order to create an influential and exclusive boxing event that compellingly promotes the sport. At the event, members of the Dubai royal family were present along with local and international celebrities and media outlets. The Color World Cup - WBA World Tour was met with great reception in the region as these types of major sporting events are relatively scarce in the Middle East. And so, Color Star plans to bring more premier sporting events to the Middle East, enriching the region's entertainment and cultural landscape. Sina Sports, Tencent QQ Live, and other media platforms streamed the event live to facilitate more boxing fans who were not able to attend in person. A local Dubai online platform who broadcasted the event received 4 million views, which is a testament to the public's love for boxing. Many online viewers have left comments expressing their anticipation for more similar events in the future.
CEO of Color Star, Louis Luo, said, "We are very happy that so many people gave recognition to our competition: not only from the Dubai Royal Family, the WBA and other people from all walks of life, but also from the audience and online viewers. The influence of this competition is still growing, which allows us to bring in huge ticket revenues and commercial income. At the same time, it paves the way for us to organize more international events, all of which will hopefully bring in huge commercial profit for the company."
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.
