Color World Enters the Spotlight as Color Star Attends GITEX

NEW YORK, Oct. 14, 2022 /PRNewswire/ -- The 5-day long GITEX Technology Week ("GITEX" or the "Exhibition"), one of the world's top three information technology exhibitions, is coming to an end in Dubai. 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, has benefitted a lot from this Exhibition. Not only did Color Star introduce and share its ColorWorld Metaverse ("Color World") in detail on a global stage, but it also officially unveiled its DONO Metaverse Smartphone together with its partners to the global market.

Reportedly, GITEX has attracted more than 5,000 exhibitors originating from over 90 countries to the event, which is currently the world's largest technology exhibition, this year more so than ever. His Highness Sheikh Mohammed bin Rashid Al Maktoum, the Ruler of Dubai, also made an appearance on the first day of the event. The Exhibition covers new metaverse technologies, the development of decentralized Internet technologies and a sustainable global digital economy. As one of the exhibitors, Color Star was also well-prepared, not only making its booth feel high-tech, but also effectively exhibiting Color Star's artificial intelligence and metaverse content over the years to visitors by means of promotional videos and images. As a metaverse platform based on "artificial intelligence + celebrity entertainment", technology is at the core of Color World to drive the fan and business economies. This also became the biggest highlight of Color World during the Exhibition. How Color World can be the number one app in Web 3.0's economy will depend on Color Star's business advantages and segments. Color Star is the first to bring the fan economy structure to the metaverse platform, digging and developing extensively, using VR, AR and AI technologies to create an immersive virtual world, while bringing together the world's top celebrities to become metaverse stars; designing and creating virtual characters, online celebrity courses, and creating digital products like NFTs to drive the rapid realization of the fan economy. Complementary to this, Color Star is cooperating with more and more international businesses, and attracting more commercial brands to launch their digital products and sell them in their tailor-made Color World metaverse headquarters.

Not long ago, Color Star established a new cooperation with a Korean business to create the world's first metaverse smartphone, the DONO Phone, which received unanimous attention once the news came out. During this Exhibition, DONO Phone was officially presented to the world. As a smartphone with metaverse as one of its core features, it comes with Color World pre-installed. Users can experience the charm of the colorful metaverse in real time by simply registering and logging in. In the future, the phone will implement its own proprietary digital wallet service, "Dono", as well as a hack-resistant decentralized cloud storage service called "Dinbin". Breaking the barrier between users and the metaverse, Color Star will push the metaverse to the masses step by step, and they will introduce even more technology products and applications. Color World and DONO Phone, as the two main exhibits of Color Star in this Exhibition, made a lot of visitors very interested through the 2D and 3D promotional materials combined with the professional introductions given by the Color Star team. During the Exhibition, a large number of industry insiders and visitors came to the booth for detailed discussions. Color Star was also able to establish preliminary strategic cooperation intentions with many international enterprises present at the Exhibition.

Farhan Qadir, CEO of Color Star, said: "We are very honored to participate in this Exhibition and to share our achievements with the attendees. Color Star is a technology company, and is currently at the forefront of both software and smartphones, which urges us to work harder to develop and improve our products. Through this Exhibition, we established contact with many enterprises and made more people aware of what we do. This will play an important role in the upcoming developments of the company. We believe that our business segments will become broader, and we will have earn many more achievements centered around the metaverse to share with everyone."

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 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 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.

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SOURCE Color Star Technology Co., Ltd.