Color Star Technology Co Ltd ADD said its subsidiary, Color Metaverse Pte Ltd, recently entered into a strategic cooperation framework agreement with Hua Yu Sheng Shi Group to new entertainment and sports IPs.
The partnership will involve co-organizing large-scale events, talent cultivation programs, variety shows, agency operations and commercial rights management.
Hua Yu Group has a registered capital of ¥100 million, with resources covering culture and sports, film and entertainment, artificial intelligence technology, and asset management.
Both parties will collaborate in creating new IPs relating to entertainment performances, sports events and artwork copyrights targeted at the global market.
"In view of our current company operations, live performances have become our biggest source of revenue, so we have strengthened our cooperation with outstanding companies, while putting more focus on entertainment IPs, copyright revenue and incubating businesses," said CEO Louis Luo.
Price Action: ADD shares are trading higher by 0.38% at $1.3050 on the last check Friday.
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