Color Star Technology (CSCW) Stock: Why It Increased Over 2% Today

By Amit Chowdhry ● Sep 22, 2022
  • The stock price of Color Star Technology (CSCW) increased by over 2% intraday today. This is why.

The stock price of Color Star Technology (CSCW) increased by over 2% intraday today. 

Why: Metaverse-related announcement

Details: Color Star Technology recently announced that the Asian fashion brand, Unbounded Human, will officially begin selling its clothing on the ColorWorld Metaverse platform. Focused on the oriental style, Unbounded Human not only aspires to expand globally but also has its eyes on the future developments of Color World. The fashion brand will become the first of its kind on the platform.

Unbounded Human: Unbounded Human is committed to creating fashion items that balance comfort and luxury. And it seeks for each item to become a versatile or even a cultural mainstay item in people’s closets, following and integrating trends in order to create even newer trends belonging to the orient aesthetic. As the brand continues to mature, its focus is now on the metaverse commerce era. At the heart of this cooperation with Color Star is Color World, which is a metaverse platform featuring artificial intelligence and celebrity entertainment that has more than 1 million users worldwide. To businesses, this means that Color World will bring its own traffic to them. Nowadays, the phrase “traffic is king” is even more crucial to making a profit, and it just so happens that Color Star’s metaverse platform can provide the traffic. It is imperative for offline brands who want to seize the opportunity in the ever-changing digital commerce landscape to find itself a platform with plenty of traffic and popularity.

The cooperation agreement was agreed previously and the Color Star team has since designed and built the fashion brand a headquarter in the metaverse ready with product displays. The new age of metaverse commerce will bring new developments to Unbounded Human. And Color World will assist by promoting the brands on the platform and by creating a big space in the market for the brands and enterprises.

KEY QUOTE:

“The metaverse is the inevitable direction of development for digital commerce. Our metaverse platform is not only an entertainment technology platform, but also a platform that can bring profit to enterprises, and it is very important to generate value as it allows us to grow even more. Metaverse commerce will always rely on user traffic, so we will continue to improve the variety and novelty of software features for the benefit of companies and users alike. We will continue to collect feedbacks to improve the user experience. The metaverse commerce era has arrived, and what we want to do is to make users want to spend more time in Color World. New business partners are always welcome, you can contact Color Star by email if you are interested in doing so.”

— Farhan Qadir, CEO of Color Star