Tough Battles Ahead as Players from Villarreal, Color Star's Partner Team, Competes at the Qatar 2022 World Cup

NEW YORK, Nov. 25, 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, announces today that two players from the Villarreal Club de Fútbol, S.A.D. team ("Villarreal" or the "Team"), Rulli and Foyth, will join up with the Argentina national football team to compete in the Qatar 2022 World Cup tournament. With this, Color Star sends its blessings, and wishes the Argentine team to win the tournament, and wishing the two players can shine.

Gerónimo Rulli plays as a goalkeeper and his national team number is 12, while Juan Foyth is a defender with the shirt number 2. As two top-level soccer players, they should not be underestimated, and Color Star believes that they have what it takes to win the World Cup. Villarreal, known affectionately as the "Yellow Submarine", is itself a powerhouse team competing in the Spanish La Liga competition, and it even made its way into the top four of the UEFA Champions League season of 2021/22. As Villarreal's partner, Color Star has also grown in fame and reputation thanks to the strength and appeal of the Team. Not long ago, Color Star and the Team renewed their strategic cooperation agreement, and will combine to carry out in-depth cooperation in the future, both online and offline.

Color Star's mobile application, ColorWorld Metaverse ("Color World"), is a metaverse platform focused on "artificial intelligence + celebrity entertainment", and has more than one million users worldwide since its launch. The platform's celebrity segment, sports segment and merchandise segment have seen a high click-through rate. This has led Color Star to increase the amount of celebrity content and expand the merchandising segment. There is ongoing cooperation with the Villarreal team, and in the future, online soccer courses will be available on the platform, as well as related tournament collaborations. There are also plans to create virtual models for the Team, organize virtual tournaments, create opportunities to interact and communicate with Villarreal players in the metaverse, as well as release NFT tokens. In addition, we will also cooperate offline through events and or training camps. In order to further expand the sports segment in Color World, Color Star has assembled a specialist team dedicated to upgrading and optimizing the platform to expand the metaverse and its contents, and it will also invite more outstanding soccer stars and celebrities to the platform to interact and communicate with everyone.

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.

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SOURCE Color Star Technology Co., Ltd.