Color Star Technology Co., Ltd. ( Nasdaq: CSCW) (“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 recently officially announced to the public that it will enter the mobile industry to cooperate on the development and manufacturing of a metaverse phone. This will not only become another key segment of Color Star’s future business, but also show that Color Star, as a NASDAQ-listed international technology company, is fully utilizing its technology and platform advantages to push for new advancements in metaverse and Internet+ technologies.
It is understood that Color Star is cooperating with leading international enterprises to develop and manufacture the DONO metaverse phone (“DONO”). The DONO phone is an ESG-compliant, eco-friendly smartphone, from its materials all the way to the lifespan of the device. Each device will have the Color Star logo printed on the back along with the ColorWorld Metaverse (“Color World”) software pre-installed. The phone is highly hack-resistant thanks to its state-of-the-art technology, guaranteeing high levels of security. The Color Star team will be providing full support to the development process, and the Color World platform will be used to advertise and generate publicity for the phone.
DONO is more than just a smartphone with communication functionalities; it links the user to the metaverse, allowing easy access to limitless entertainment, collaboration, and education content via a tap of a finger. Through the pre-installed Color World app, users can be among the first to experience new virtual locations, digital products, celebrity entertainment, and so on. Under the protection provided by Color Star, users can safely enjoy using the DONO phone without worrying about the safety of their privacy. DONO is expected to be officially unveiled in October at the 2022 Gulf Information Technology Exhibition (“GITEX”) to be held in Dubai.
Farhan Qadir, CEO of Color Star, said: “The mobile industry is our new business segment, and we are very excited and confident about developing this segment in the years to come. We are a technology company, and combined with our continuous development and optimization of our metaverse platform, our DONO phone will be a significant entry in the industry. While the public has been studying the features of our metaverse, we have been looking into user safety and protecting their privacy. Moreover, we will combine our metaverse with other services and businesses in order to widen our market. We are not your typical tech company. Here, everything is possible.”