Color World Plans to Boost Service Industry as Famous Auto Repair Shop Joins Metaverse Platform – PR Newswire | CarTailz

NEW YORK, November 7, 2022 /PRNewswire/ — Color Star Technology Co.,Ltd. (Nasdaq: ADD) (“Color Star” or the “Company”), a global network entertainment technology company focused on the application of technology and artificial intelligence in the entertainment industry, recently announced that its Metaverse platform ColorWorld Metaverse ( “Color World” or the “Metaverse”) will launch a number of service-oriented businesses on its platform. The first company to join the platform will be a well-known car repair and service company. Color World users within the service area can access the auto repair shop directly through Color World and book an appointment to have their car serviced, saving users a great deal of time and allowing them to quickly and accurately locate mechanics in emergency situations. In the future, Color World will integrate further service companies. Through this software, users can fulfill their service needs like in real life.

It is reported that Color Metaverse Pte. ltd (“Color Metaverse”), a subsidiary of Color Star, has entered into a business cooperation agreement with Hemma International Auto Repairing (“Hemma”), a well-known auto repair company in the United States middle East. Color Metaverse will design and build a car repair center in Color World. Certain offline repair center services will also be available online, utilizing the platform to attract new customers. So far, most of the companies on the platform are brands, but only a few are part of the service industry. The cooperation with Hemma is Color Star’s attempt to successively improve the product variety of the platform. Users can use Color Coins to purchase services and can also book appointments at the physical center. A major highlight for service centers in the Metaverse is that users are always directed to the real physical store, which will greatly aid the rapid recovery of the service industry caused by the downturn due to the pandemic. Color Star will continue to improve and expand the service sector on the Color World platform to also include beauty, housekeeping, rental and housing, food delivery, etc. Color World will not deviate from its focus on meeting the needs of the public. Through technology, the company will work to gradually meet all the needs that people may have in terms of work, education, social entertainment and life through refined design and development.

Color Star believes technology can transform lives, and Color World will definitely be more than just a meaningless metaverse platform. The real “Color World” is not a pompous and vain platform, but one that is aware of people’s interests and needs. Artificial intelligence is a crucial tool for attracting people to the Metaverse, and the Metaverse’s content should be the platform’s biggest attractions.

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 is conducted through its wholly owned subsidiaries, Color Metaverse Pte. ltd and CACM Group NY, Inc. The company’s online education is provided through its music and entertainment education platform, Color World. For more information about the company, visit www.colorstarinternational.com.

Forward-Looking Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements of plans, objectives, goals, strategies, future events or performance, underlying assumptions and other statements that are other than statements of historical fact. When the Company uses words such as “may”, “will”, “intends”, “should”, “believes”, “expects”, “anticipates”, “forecasts”, “estimates” or similar expressions that do not exclusively refer to them relating to historical reasons it makes forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause 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; demand and acceptance of products and services; changes in technology; economic situation; the growth of the international education and training services market in which ADD does business; reputation and brand; the effects of competition and pricing; government restrictions; 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 on any forward-looking statements contained in this press release. Additional factors are discussed in the Company’s filings with the Securities and Exchange Commission, which are available at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances after the date of this release, except as required by any applicable law, rule or regulation.

SOURCE Color Star Technology Co., Ltd.

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