Color Star's Partner Villarreal CF Prepares To Face Liverpool In Second Leg of Champions League Semi-Final Tie

NEW YORK, May 2, 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, announces today that their La Liga partner team Villarreal CF ("Villarreal") will be facing Liverpool FC on the evening of 3 May at 19:00 UTC in the battle for a spot in the Champions League finals. Despite losing 2-0 in the first leg, the team remains calm and poised as they undergo intense preparations ahead of the second leg. Villarreal has the full support of Color Star behind them during each and every match.

Villarreal is currently amongst the best La Liga teams. This year, the club, dubbed the Yellow Submarine, has achieved its best result in the Champions League since reaching the semi-finals in 2006. In fact, Villarreal even managed to maintain a win streak earlier in the tournament by eliminating heavyweights such as Juventus and Bayern Munich, much to the amusement of the fans and the world. As Villarreal's prominence and reputation grows, Color Star, as their global partner, has also been seeing growth in their own fame and reputation around the world, and especially in the European market. This year has seen extensive efforts by Color Star to expand into the European market; their metaverse platform Color World has received the attention of many international brands and enterprises who have been joining the platform one by one to set up their own shops and headquarters in the virtual world. As an application delivering an experience focused on AI and celebrity entertainment, Color World has invited numerous top international celebrities and teams involved in sports, music, and arts to join the platform ("Color Celebrities"). On the platform, these Color Celebrities can record and sell their masterclasses, as well as have their virtual avatars and merchandise created by the Color Star team to drive the sense of immersion and interaction. Villarreal CF will also be joining the platform shortly; the masterclasses conducted by the players will be released on the platform in the future for all their fans and the world to study.

In addition to the online operations, Color Star will also cooperate with the team to create offline content. In addition to the Champions League tournament currently underway, the Color Star team will also accompany the team to more matches in the future. Lucas Capetian, the CEO of Color Star, said: "Our choice to partner with Villarreal in February this year has certainly proved to be the right one as we have seen a recent surge in user registrations on our platform while our market capitalization has maintained a steady and growing momentum despite many uncertainties in the global market. It is possible that there is a correlation. As an international company, we will not just simply expand into a certain region. We will also expand into the Middle East and Asia, and we will continue to invite more outstanding teams and celebrity artists onto our colorful star roster. The traditional market law can no longer restrict our business development, the conversion and backflow of online and offline members and fans will certainly bring more wealth for the enterprise."

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.