Color Star Technology Co., Ltd. (NASDAQ: CSCW) Launches Official Cooperation with NBA Team Philadelphia 76ers

NEW YORK, Dec. 20, 2021 /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, announced today that on December 15th, Color Star and the Philadelphia 76ers, a National Basketball Association (NBA) team, held a signing ceremony in Philadelphia, Pennsylvania, USA, officially launching cooperation between the two parties.

The Philadelphia 76ers belongs to the Eastern Conference Atlantic Division of the NBA and its home stadium is the Wells Fargo Center. The Philadelphia 76ers is a veteran team in the NBA and a leading team in the Eastern Conference, currently ranking 6th. Color Star and the Philadelphia 76ers will cooperate in the areas of advertising, entertainment technology, and other related sectors. The NBA team will use Color Star's entertainment metaverse platform, Color Star app, to interact and communicate with audiences and fans from around the world, sharing the joy of basketball.

Sir Lucas Capetian, CEO of Color Star, commented: "We are deeply honored to cooperate with the Philadelphia 76ers, a top NBA team. NBA games are the most influential sports event in the United States and even around the world; the teams and athletes are loved by fans everywhere. We hope this cooperation will enrich the content of Color Star app, our entertainment metaverse platform, and through NBA events, global audiences can also learn about our metaverse platform. This will help Color Star gain more recognition worldwide and grow our user base. This is a win-win relationship and we look forward to more in-depth cooperation with the Philadelphia 76ers and other NBA teams in the future."

Through increasing cooperation with top athletes and sports teams, Color Star continues to bring new and exciting content to its entertainment metaverse platform, Color Star app. Perhaps in the future everyone will be able to not only watch games in the metaverse, but also participate in virtual sports events. This collaboration between Color Star and the Philadelphia 76ers is an extension of the interplay between technology and competitive sports, which will help interweave and enrich the world of entertainment and sports.

About Color Star Technology

Color Star Technology Co, Ltd. (Nasdaq CM: 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.

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