Color Star Technology Co., Ltd. (NASDAQ: CSCW) to Officially Launch Metaverse, Starting a New Chapter for Entertainment Technology

NEW YORK, Jan. 11, 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 in the entertainment industry, announced today that the global open beta version of its entertainment metaverse platform "Color World" will be launched on January 28, 2022.

The open and global beta version of "Color World" is an entertainment metaverse platform that Color Star team spared no effort to create. This version will include functions of virtual character, intelligent interaction, automatic NFT scene generation, and second life development, etc. Once launched, uses can register an identity of their choice in Color World and generate an avatar, which can live a brand-new life there. In Color World, all users can make friends, play sports, purchase real estate, buy land, start their own businesses, and even develop their own properties for sale. In addition, users can hold their own concerts, dance performances, and even showcase movies, TVs and short films shot by themselves to Color World's global users.

Sir Lucas Capetian, CEO of Color Star, commented, "We have been making breakthroughs in the technological updates of the entertainment metaverse. We believe metaverse is a brand-new world waiting to be developed, where everyone can not only live a better life, but also show off their talent; our unrealized dreams can be realized in Color World. You can be a music megastar, a business tycoon, even a king of your own kingdom in Color World. Our Color World is open and inclusive, we hope more talents and personal charisma can be realized here. The current online version is the initial version. I believe our Color World will be perfected as the team and participants continue to progress."

The new version and update of Color World indicates the company's dedication to building a metaverse platform. All registered users of the original Color World APP will be automatically updated to the new version of Color World metaverse. It is also believed that the updated version will attract more new registers. This online version will be an open beta version, and Color Star hopes that users around the world can provide valuable feedback so as to make our metaverse more perfect.

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.