Color Star Enters Into Strategic Cooperation Agreement With Detok, a Social Sharing Platform for Short-Form Videos

 Color Star Technology Co.,  an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, recently announced that its subsidiary, Color Metaverse Pte. Ltd. (“Color Metaverse”), has entered into a strategic cooperation framework agreement with short-video sharing platform, Le Shua (“Detok”). Together, subject to the terms of a definitive written agreement to be entered into, the parties plan to help each other develop grow in their respective markets, increasing its range of support for various in-app content, thereby increasing Detok’s global influence and user base.

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Detok is a blockchain-based short-video and live streaming platform. Connecting users worldwide through short videos, Detok’s main principle revolves around the direct exchange of value between creators, viewers, and advertisers, combining short videos and live streaming with blockchain technology to create blockchain-based digital copyright protection. This makes it possible to administer and distribute copyrights, creating a video NFT platform where you can make money through your videos. In addition to the usual social platform features commonly found in similar applications like KuaiShou and Tiktok, Detok also features services such as on-demand fuel delivery, car rental, online grocery shopping, food delivery, ride-hailing, pharmaceutical and health, ticketing, electronic bill payment, hotel booking, movies, and other day-to-day services. By accessing these services through Detok, users not only save money, but are also rewarded for spending, making the whole experience cost-effective and attractive. Color Star plans to introduce even more features to the application. It is worth mentioning that Detok already has millions of users, and Color Star’s metaverse platform, ColorWorld Metaverse, may provide Detok with potential new users. Color Metaverse plans to fully utilize all of Detok’s existing resources, and provide the platform with a constant stream of new content including NFTs, new celebrity IPs, and digital features, in order to attract new users to browse the app’s contents, generating more profit for its content creators.

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Farhan, CEO of Color Star, said: “Color Star has been constantly researching and developing in the fields of electronic commerce  in recent years. Using the newest technologies, we have developed our own interactive metaverse platform, Color World, with celebrity entertainment content as the main attraction, and has achieved a global reach and popularity. With a considerable user base and popularity, we are determined to cooperate with more and more excellent and powerful platforms to create more e-commerce platforms. Together, we will be able to optimize and develop the contents of the Detok platform, incorporating some of the features and content we are experienced with, such as the metaverse, celebrity content, and NFTs. In terms of users, we will leverage on our existing user base to channel traffic to Detok, and we will also increase marketing efforts through more channels. After all, in the Internet+ era, users represent traffic, and traffic represents profitability. At present, Color Star has restarted organizing live music concerts and other offline projects, and in the future we want to cooperate with even more influential technology companies and entertainment platforms.

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