Color Star Creates Digital UAE Showroom for Upcoming Hurun UAE Summit, Paving the Way for Exhibitions in Color World

NEW YORK, Nov, 14, 2022 /PRNewswire/ -- Color Star Technology Co., Ltd. (Nasdaq: ADD) ("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, is once again announcing that its subsidiary, Color Metaverse Pte. Ltd. ("Color Metaverse"), is cooperating with Hurun Report to organize the Hurun UAE Summit (the "Summit") to be held between the 23rd and 25th of January, 2023. The Summit will be partly held in the ColorWorld Metaverse application ("Color World"), where a virtual version of the UAE exhibition hall will be set up. And with this, the development of a new and exclusive Color World exhibition hall will also take place.

It is understood that Color Star will recreate the UAE exhibition hall in Color World, where users will be able to purchase event tickets and watch event highlight videos. It is worth mentioning that Color Star will also begin working on developing a virtual exhibition feature to gradually normalize the use of the metaverse for exhibitions. Virtual exhibitions have the potential to fulfill all the needs of an exhibition organizer due to its nigh infinite potential for customization and adaptability, as well as the possibility to link a virtual exhibition to a concurrent sister exhibition taking place in the real world. Color World virtual exhibitions remove travel limitations, making it possible for more businesses and entrepreneurs around the world to participate without worrying about the issue of travel. With just a mobile phone and an application installed, visitors will be able to enter Color World to purchase exhibition tickets, and exhibitors will be able to easily set up their own event booths, all within a mobile application.

Farhan Qadir, CEO of Color Star, said: "Color Star has been continuously developing and expanding Color World, and digital exhibitions are another feature of the metaverse that we are working on. Along with that, we also plan to introduce a flight and hotel booking system so that users can save time and effort by being able to fix their entire exhibition trip in our app. This will also open up new opportunities for businesses and individuals to partner with us and join the Color World platform."

About Color Star Technology Co., Ltd.

Color Star Technology Co., Ltd. (Nasdaq: ADD) 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 Metaverse Pte. 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 ADD 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.