Benzinga | Jun 22, 2021 08:31AM EDT

Color Star Technology Reports Official Opening Of CLUB-Nebula In New York CIty's Times Squawk, Launch Of Its Consumer Non-Fungible Token

Color Star Technology Co., Ltd. (NASDAQ:CSCW) (hereinafter referred to as "Color Star" or the "Company") announces the official opening of CLUB-Nebula in Times Square, New York (hereinafter referred to as "Nebula") scheduled in September 2021. Color Star has formed a cooperation with Nebula and will help launch its consumer non-fungible token (NFT). This cooperation is a partnership between entertainment and technology, and the NFT to be launched by Color Star will be the world's first "club" NFT.

Nebula is located on 41st Street, near Times Square, Manhattan, New York. After a yearlong renovation, it has now entered the countdown phase for reopening. Nebula's interior design adopts the concept of music scene; it is equipped with the world's top acousto-optic intelligence system and the most advanced virtual reality (VR) naked-eye 3D video engineering. The club can accommodate 600-1000 guests, while delivering to everyone on site optimal audiovisual effects. In the future, Nebula will invite well-known artists to perform and present the most exciting music. Nebula will also launch the world's first NFT products in July 2021, where ten NFT products will be auctioned to bidders worldwide. Auction winners will be able to enjoy Nebula's lifetime SVIP service, which includes face-to-face interaction with performing celebrities, exclusive SVIP seating, specialty-brand beverages, butler services, and other services exclusive to NFT owners.

Mr. Basil Wilson, CEO of Color Star, commented: "We are very pleased to work with our partners to create Nebula, this top-level club. Nebula is not only an entertainment venue, but also a futuristic music venue that combines music with technology. The Nebula NFT that we cooperate to launch is also a bold breakthrough. We have integrated the traditional music club model into the advanced-technology model and created a new concept for music venues. In the future, Nebula will launch more music locations around the world, and endeavor to create a club that combines on-site and off-site music entertainment.

Currently, the NFT R&D team of Color China, a wholly-owned subsidiary of Color Star, is fully committed to building the Nebula NFT product, which will feature not only blockchain encryption technology but also physical anti-counterfeiting technology. In addition, the NFT auction winner will also have a unique bio-intelligent anti-counterfeiting label, which adds to the appeal of such NFT products as a symbol of authenticity and status.