Metaverse Games Section Officially Released, Color World Brings Fresh New Entertainment Technology

NEW YORK, June 16, 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, has recently announced new features and in-game locations are in the works following their recent successful app update, capturing the attention of the public and industry insiders alike. Today, Color Star once again announced that the metaverse platform's games section is officially online. Members can log in to experience the novel entertainment made possible through state-of-the-art technology.

Since the launch of the Color World metaverse app, the technical team has worked nonstop on the development and innovation, combining large amounts of AR and AI technologies, virtual images with real locations, creating virtual meeting rooms, digital airports, business headquarters, celebrity entertainment, and other related content. Color Star is creating an interdependence of entertainment and business, all the while constantly providing users with refreshing new content. The launch of the currency "Rainbow Beans" will allow users access to life-like immersive interactions. This games section has been the focus of the technical team's development. It is understood that the genre of the newly released game named 'Super Kart Racing' already has a large worldwide competitive scene compared to similar more traditional games. "Super Kart Racing" adheres to the concept of the metaverse in terms of having very high standards for its graphics and competitive scene. During pre-testing, users gave very positive feedback in regard to the game's graphics and gameplay. Color Star metaverse will follow up "Super Kart Racing" with more games in the future.

Lucas Capetian, CEO of Color Star, commented: "Many people who follow our team and our software have noticed that we have been publishing a lot of good news lately. This is because in the early stages of the Color World metaverse platform, we were able to attract many new business partners thanks to our strong userbase and technical content. In this update of our software, we updated all the locations, businesses, celebrities, games, and so on. We also gave some of our partners and users a part to play by being able to voice their opinions, which made us encouraged and trusted. So, the release of one piece of good news after another is the best way to repay these supporters. Moreover, we hope to let everyone understand that Color World metaverse app is an "artificial intelligence + celebrity entertainment" metaverse entertainment platform, which is our biggest focus and advantage. We will continue to play to our professional advantages and resources. Color Star will provide extraordinary entertainment technology for millions of users around the world. We encourage everyone to download the "color world _ metaverse" application on Apple App Store and Android Google Play to experience our software and we also hope that more game companies will cooperate with us to release more high-quality games on our metaverse software platform. "

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.