Color Star Technology Co., Ltd. (NASDAQ: CSCW) Announces that Latest Version of Color World Goes Online Today, Bringing About The Dawn Of Entertainment Metaverse

NEW YORK, Jan. 28, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (NASDAQ: CSCW) (hereinafter referred to as "Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence ("AI") in the entertainment industry, today announced that its entertainment metaverse product "Color Star" is officially launching today and is available for download on the Apple App Store and Google Play Store.

Mr. Lucas Capetian, CEO of Color Star, said: "After rigorous testing and fine-tuning, the initial release version of our entertainment metaverse Color World is now available to users worldwide. This version of the metaverse is set in Dubai, UAE, and we are planning to add in virtual models of many more cities in the future. Features in this initial release include social features, shopping, celebrity masterclasses, and so on. For now, these features are free for all users. After download and registration, users can choose an in-game avatar of their liking to represent them in the metaverse. Users can meet and chat with other users located around the world via Color World's social features, purchase any products they like in the metaverse's shops, and take masterclasses from celebrity musicians, artists, and athletes in the virtual classrooms. Color World's current version is a very basic build, and we believe there are still lots to improve. I also hope users can offer us constructive feedback after experiencing our metaverse. We hope that Color World's user experience will eventually be perfected with continuous updates.

The launch of Color World also indicates to users around the world that they will be seeing a lot more of these technology entertainment products that Color Star is fully focused on creating. Future updates to Color World may include NFTs, VR support, and AI technology. Users will only have to update the app in their appropriate app stores in order to receive these updates.

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq: CSCW) is an entertainment and education company that provides online entertainment performances and online music education services. Its business operations are conducted through its wholly-owned subsidiaries, Color China Entertainment Ltd. and CACM Group NY, Inc. The Company's online education is provided through its Color World music and entertainment education platform. More information about the Company can be found at www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements.  Forward-looking statements are not guarantee of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development, including the development of the metaverse project; product and service demand and acceptance; changes in technology; economic conditions; the growth of the educational and training services market internationally where CSCW conducts its business; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission.  For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward–looking statements to reflect events or circumstances that arise after the date hereof unless required by applicable laws, regulations or rules.

SOURCE Color Star Technology Co., Ltd.