Color Star Announces a New Version of Color World APP Released as the Company Continues to Build the Entertainment Metaverse

NEW YORK, June 8, 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 ("AI") in the entertainment industry, announces today that a new version of "ColorWorld_MetaVerse" has been launched simultaneously on Android and Apple mobile phones.

The entertainment metaverse software "ColorWorld_MetaVerse" is a metaverse concept software that integrates entertainment, in-game social features and entertainment business. The latest software not only incorporates AI and VR vision systems, but also improves business meeting functions. With the continuous development of more sections and the non-stop improvement of various functions, "ColorWorld_MetaVerse" will provide users with more practicality and better user experience.

Mr. Lucas Capetian, CEO of Color Star, commented: "Recently the Company's technology development department has been working on software upgrades. The latest version of the software has more convenient page operations and a more advanced visual experience. Also, more content will be added to the software, including VR arcades, VR concerts and VR star meet-ups. I believe we will attract more users in the future. At the same time, ColorWorld_MetaVerse may be the world's first entertainment metaverse software. Color Star will pay more attention to the entertainment function of the software, and the celebrity meeting section will be a highlight that cannot be ignored."

"ColorWorld_MetaVerse" APP is available to all users which can be downloaded on both the Apple App Store and Android Google Play.

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.