What's going on with CSCW?
Color Star Tech (CSCW) stock is 40% higher today after announcing it is developing a non-fungible token (NFT) business. The Chinese company said that the tokens will be tied to network copyrights, concerts, artist videos, TV programs, music, museum collections, and celebrity-exclusive product designs.
What does this mean for Color Star?
Color Star said it hopes to capture more profit through the application of NFT encryption technology. With the recent surge of collectors buying high-valued digital NFT artwork, it stands to reason why Color Start is bullishly hopeful on itself. NFT digital artwork has sold for almost $70 million, and a short clip of Lebron James dunking a basketball went for $280,000 so will celebrity NFT's be the next big thing? Color Star certainly hopes so.
What Does The Stock Analysis Say?
Trading patterns in Color Star Tech CO Ltd (CSCW) stock over the last several months earn it a very good Long-Term Technical Rank of 94. This means CSCW has a more attractive chart over the last 10 months than 94% of companies. Click here to see the full stock analysis on Colar Star Tech CO.
