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 Color Metaverse Pte. ltd (“Color Metaverse”), a subsidiary of Color Star, has entered into a Strategic Cooperation Agreement with Quality Plus Biomedtech Co., Ltd. (“Quality Plus”) completed. In the future, the two companies plan to work closely together and support each other in areas such as marketing, brand building, data exchange, and research and development.
According to Quality Plus, it is a biotechnology company in Thailand that uses technology and medical techniques to develop safe and effective health and beauty products. As biotechnology and medical cosmetics become more popular, Color Star has decided to partner with them and plans to use its platform ColorWorld Metaverse (“Color World” or the “Platform”) to promote Quality Plus cosmetics services and products and sell, including health care products, makeup, and cosmetic procedures. In addition, along with the gradual recovery of the world economy, both parties will promote each other’s brands and set up physical stores. Color World is a metaverse platform that offers exclusive celebrity deals, virtual reality, and e-commerce. Many products from the industry are already represented in Color World and cosmetics will be the latest addition, with Quality Plus as the main representative. In the future, users from all over the world will be able to discover and buy products and services with virtual reality technology directly on the platform. Through cooperation with Quality Plus, Color Star should not only expand its product range but also win new target groups for Color World.
Farhan Qadir, CEO of Color Star, said: “We are very pleased to be working with such an outstanding international biotechnology company. From now on, we will not only bring cosmetics products to the platform, but we are also considering partnering with Quality Plus and creating a new global cosmetics brand that will offer a wider range of services that will hopefully attract more female users to Color World. Color Star will progressively increase its collaborative efforts, for example by establishing premium cosmetics brands and investing in the development of beauty and nutritional supplements.”
