Fashion Brand Sets Sights on New Age of Metaverse Commerce as Color World Boosts Online Digital Spending

NEW YORK, Sept. 22, 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, recently announced that the Asian fashion brand, Unbounded Human, will officially begin selling its clothing on the ColorWorld Metaverse platform ("Color World"). Focused on the oriental style, Unbounded Human not only aspires to expand globally but also has its eyes on the future developments of Color World. The fashion brand will become the first of its kind on the platform.

Unbounded Human is committed to creating fashion items that balance comfort and luxury while taking into account professionalism and design. It seeks for each item to become a versatile or even a cultural mainstay item in people's closets, following and integrating trends in order to create even newer trends belonging to the orient aesthetic. As the brand continues to mature, its focus is now on the metaverse commerce era. At the heart of this cooperation with Color Star is Color World, a metaverse platform featuring artificial intelligence and celebrity entertainment that has more than one million users worldwide. To businesses, this means that Color World will bring its own traffic to them. Nowadays, the phrase "traffic is king" is even more crucial to making a profit, and it just so happens that Color Star's metaverse platform can provide the traffic. It is imperative for offline brands who want to seize the opportunity in the ever-changing digital commerce landscape to find itself a platform with plenty of traffic and popularity.

The cooperation agreement was agreed previously, and the Color Star team has since designed and built the fashion brand a headquarter in the metaverse ready with product displays. The new age of metaverse commerce will bring new developments to Unbounded Human. Meanwhile, Color World will assist by promoting the brands on the platform and by creating a big space in the market for the brands and enterprises.

Farhan Qadir, CEO of Color Star, said: "The metaverse is the inevitable direction of development for digital commerce. Our metaverse platform is not only an entertainment technology platform, but also a platform that can bring profit to enterprises, and it is very important to generate value as it allows us to grow even more. Metaverse commerce will always rely on user traffic, so we will continue to improve the variety and novelty of software features for the benefit of companies and users alike. We will continue to collect feedbacks to improve the user experience. The metaverse commerce era has arrived, and what we want to do is to make users want to spend more time in Color World. New business partners are always welcome, you can contact Color Star by email if you are interested in doing so."

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.