Benzinga | Nov 16, 2021 08:32AM EST

Color Star Technology Reports Signed Cooperation Deal With National Glory Holdings To Develop Industry Platform For Metaverse, Non-Fungible Token Products

Color Star Technology Co., Ltd. (NASDAQ:CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence (AI) in the entertainment industry, today announced that the Company formally signed a memorandum of cooperation with National Glory Holdings Limited ("National Glory"). Color Star and National Glory will conduct in-depth cooperation on metaverse and non-fungible token (NFT) related business sectors.

National Glory is an international investment holding company that focuses on real estate, venture capital, and the development and utilization of blockchain technology. The cooperation between Color Star and National Glory will leverage each other's advantages to develop and utilize augmented reality (AR) and virtual reality (VR) technologies to build an industry platform, bringing more innovations and advancements to metaverse and NFT products. The cooperation will help enhance the Company's international business network. Color Star has already successfully released several NFT products, metaverse interfaces, and virtual characters previously.

Mr. Basil Wilson, CEO of Color Star, commented: "Color Star's business has often centered around entertainment technology, and this cooperation with National Glory will help integrate our respective business offerings in the future. National Glory has strengths in building industry platform technologies, and it has great influence in the Middle East. National Glory's strengths will help Color Star in research, development, and promotion of more metaverse and NFT products. In addition, as Color Star's business continues to expand and its market value continues to increase, we believe that the Company is building up momentum and entering a phase of rapid growth."