The Yellow Submarines Are On A 4-Game Win Streak as Color Star's Partner Team Defeats Real Madrid

NEW YORK, Jan. 12, 2022 /PRNewswire/ -- On Saturday, the partner of Color Metaverse Pte. Ltd. ("Color Metaverse"), Villarreal Club de Fútbol, S.A.D. ("Villarreal"), also known as the Yellow Submarines, defeated Real Madrid 2-1 at Villarreal's home stadium in the 16th round of the Spanish LaLiga 2022-23 season, which is also the team's fourth consecutive victory in all competitions. Color Metaverse is a subsidiary of 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.

Villarreal has increasingly improved since it reached the semi-finals in the UEFA Champions League 2021/22, and is also becoming highly regarded by soccer fans.

Villarreal, a dynamic and rising team worth 383 million euros, is currently sitting in fifth in the LaLiga standings. As a partner of Villarreal, Color Metaverse sees its potential and is determined to maintain a long-term cooperation with the team and is actively seeking to become the title sponsor of major international tournaments. Color Star became the exclusive title sponsor of the 2022 Color Star European Winter Tour in December 2022. The cooperation between the two parties is not only limited to sponsorship in major tournaments, but will also feature a planned conversion of these exciting tournament games into NFTs for fans to purchase. The Company plans to make full use of its ColorWorld Metaverse software ("Color World") to introduce relevant digital scenarios, games, online courses and other related content to attract more fans to register as members and experience the digital sports section content anytime, anywhere.

Farhan, CEO of Color Star, said, "Color Star has been striving to use the newest technologies to create innovative content featuring culture, sports, film and television; combining digital platforms to become a bridge between celebrities and the public, as well as culture and communication. Using our business advantages, we are continuously signing contracts with new celebrities, artists and sports teams from all over the world. Combining major offline events and online platforms for diversified cooperation, we can achieve a mutually beneficial situation for everyone involved. On one hand, we will expand our influence and gain more exposure, while on the other hand, we will continuously increase the number of revenue channels through different ways of cooperation."

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.