Color Star Technology Co., Ltd (CSCW) saw a 16.94% surge in share prices, settling in at USD$1.45 as of the market closing on April 12th2021. Having enjoyed share prices exceeding the dollar-mark per share for a consecutive ten days, from March 18th, 2021 to April 6th, 2021, CSCW met the minimum requirements to have their shares listed on the Nasdaq Capital Market.
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Collaboration with Educational Institutions
Recent positive changes in share prices followed a number of key developments. On April 6th 2021, CSCW announced that its subsidiary, Color China Entertainment Ltd, entered a strategic cooperation agreement with the School of Digital Arts and Media (SDAM) of Shandong University of Art and Design. This collaboration will facilitate the promotion of various modes of digital media art and provide an online learning platform that will connect teachers and students.
CSCW’s Futuristic Approach to Art
In a post-pandemic world where the entertainment industry has suffered across the board, CSCW is capitalizing on using technology to fill that gap. They are currently developing AR technologies and applications in the hopes of establishing AR-centric art exposure through theater, community and a museum.CSCW also intends to use AR technology to diversify their upcoming potential NFT applications.
Foray into NFTs
Recent news that coincides with surges in CSCW share prices includes their announcement that they are working on a business to produce, release and promote NFTs. This will see digital artwork transformed into unique and verifiable assets that can be traded on a blockchain. CSCW is currently negotiating with various blockchain companies that can provide platforms for CSCW to launch NFTs for its services and products.
Another major development has been CSCW’s collaboration with Grammy-nominated DJ Steve Aoki, wherein registered users of the Color Star application can pay-on-demand to watch his online live shows. Mr Aoki will be the exclusive DJ for a month on CSCW’s platform, hopefully generating interest and growth in their user base that has already exceeded one million.