Color Star Technology Co.,Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), a global network entertainment technology company focused on the application of technology and artificial intelligence in the entertainment industry, recently announced that its subsidiary Color Metaverse Pte. ltd (“Color Metaverse”), has entered into a strategic cooperation agreement with Daxi Media (“Daxi”). Daxi’s jewelry brand “Quan Ornaments” is launched on the ColorWorld _ Metaverse platform (“Color World” or the “Platform”). In the future, Daxi will launch its wholesale and retail stores in Color World and conduct international business cooperation through the platform.
It is understood that Daxi is a wholesaler and retailer of jewelry and accessories, but due to the changing economic environment in recent years, it has started to shift to electronic commerce, a big step forward for the brand. Daxi hopes to expand into the global market through the Metaverse platform, not only to achieve higher profits, but also to develop new products in cooperation with international brands. Color Star will start designing Daxis Metaverse Store for it. The products are displayed in the store for users to browse and purchase. In addition, the two companies will cooperate in the design and production of cultural and creative accessories and merchandise for celebrity in the future to create more space for cooperation.
Color World is a feature-rich online multimedia metaverse platform. Since its release, the e-commerce segment has attracted many companies from different industries to the platform. The Color Star team hopes to make the e-commerce segment of the Color World platform the “Amazon of the Metaverse”, a gateway to e-commerce for international companies. In the age of information technology, buyers can buy their desired products with a single click through the software and get buyer protection in terms of logistics, quality and after-sales service. Color Star is eagerly developing the software and its cyber security, while on the other hand, it is rapidly opening up more convenient channels for buyers and companies, such as those that have won the approval of buyers and companies. With the resources of over a million users and the presence of many reputable retailers, Color Star provides a nurturing environment in which businesses can thrive and thrive.
Farhan Qadir, CEO of Color Star, said: “We are very excited that there will be a variety of companies populating Color World. I’ve often said that it’s impossible to divest the traditional economy in the digital age, but the ultimate form of the internet will surely give people a new understanding of the power of technology and artificial intelligence, by giving people greater freedom of choice and facilitating flexible working. Our platform aims not only to meet users’ needs, but also to make their lives easier with novel and convenient technologies. Once a company joins the platform, it is automatically connected to other companies on the platform. Businesses can collaborate and even market products together, merging and expanding each other’s markets. Independent users can also collaborate with merchants or other users. In any case, companies benefit from it. Ideally, Color World in Eve will become an irreplaceable application in Ryone’s life. I’m sure Color Star will eventually achieve that goal.”