Color Star Attends Dubai Metaverse Assembly to Promote DONO Metaverse Smartphone

NEW YORK, Oct. 3, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: CSCW) ("Color Star" or the "Company"), an entertainment technology company with a global network that focuses on the application of technology and artificial intelligence in the entertainment industry, was invited on the 28th of September to participate in the Dubai Metaverse Assembly (the "Assembly") organized by the Dubai Future Foundation. During the Assembly, Color Star actively promoted its metaverse software ColorWorld Metaverse ("Color World") to the attendees, and focused on introducing its new "DONO Phone" project.

It is understood that the conference is centered around the development of industries and sectors involved in the "metaverse economy", attracting internationally renowned companies and leading figures to attend. Color Star also made full use of the high-profile nature of the Assembly to exchange information and promote the Company's metaverse project with the attendees. Color Star recently announced its entry into the smartphone business with the DONO Phone, its first metaverse smartphone, which received widespread attention from the public. The phone is designed with the concept of the "metaverse" in mind, and the Color World app will be pre-installed on each unit. The DONO phone aims to bridge the gap between users and the virtual world, allowing users to freely access educational content, digital entertainment, and virtual communication, unbounded by physical limitations. Color Star is focused on delivering the best experiences with its metaverse technology, in addition to developing powerful cybersecurity technology to protect the privacy and security of its users. The DONO phone will utilize a distributed file storage system and a decentralized storage server to make it an almost impossible task for hackers to compromise. At the Assembly, Color Star also emphasized that all technology should be based on the security of the network.

Farhan Qadir, CEO of Color Star, said: "Color Star is very happy to participate in this Assembly. Regarding the question of how to develop the metaverse economy and generate more revenue, Color Star has also been looking for answers. For example, our Color World combines celebrity entertainment with artificial intelligence, resulting in near unlimited room for development and new opportunities for the fan and digital economy. In addition, through our metaverse DONO phone, we are announcing to the world that we are about to stimulate the metaverse to try and help it reach its full potential so as to further increase the Company's profit and revenue."

About Color Star Technology Co., Ltd.

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.