XIAMEN, China, Jan. 19, 2021 /PRNewswire/ -- Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), a leading producer, developer and operator of augmented reality ("AR") interactive entertainment games, toys and educational materials in China, today announced that the Company signed a three-year licensing agreement with Cup of Cosmo Studio (Beijing) Culture Co., Ltd. ("Cup of Cosmo Studio") for the use of its WUHUANGWANSHUI intellectual property ("IP") on social media, toys and marketing materials, effective January 1, 2021.
According to the terms of the agreement, Blue Hat can use the IP images on toys and on its e-commerce website to drive sales. Cup of Cosmo Studio is responsible for providing the photo gallery to Blue Hat. The Company is also authorized to use the IP images in its online and offline marketing campaigns, subject to the advance approval by Cup of Cosmo Studio. Blue Hat may also use the WUHUANGWANSHUI IP images for product displays for three years. In the event Blue Hat creates custom comics, videos or self-made content utilizing the IP, Cup of Cosmo Studio will receive additional payment.
WUHUANGWANSHUI is an original Chinese cartoon image brand set of a cat (Wu Huang) and a dog (Ba Zahey) owned by Cup of Cosmo Studio, which has become an influential brand easily recognized in the Chinese pop culture. Primarily seen in cartoon image, comics, animation and an emoticon package, WUHUANGWANSHUI has over 30 million online fans and followers and its promotion has led to over RMB2 billion in licensed product sales.
Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are pleased to be partnering with Cup of Cosmo Studio with this licensing agreement for their famed WUHUANGWANSHUI brand, which we are confident will increase Blue Hat's exposure and attract the attention of more potential customers. We expect this collaboration to serve as a catalyst for our business development efforts and strengthen our brand recognition."
About Blue Hat
Blue Hat Interactive Entertainment Technology is a producer, developer and operator of AR interactive entertainment games and toys in China, including interactive educational materials, mobile games, and toys with mobile game features. The Company's interactive entertainment platform creates unique user experiences by connecting physical items to mobile devices, which creates a rich visual and interactive environment for users through the integration of real objects and virtual scenery. Distinguished by its own proprietary technology, Blue Hat aims to create an engaging, interactive and immersive community for its users. For more information, please visit the Company's investor relations website at http://ir.bluehatgroup.com. The Company routinely provides important information on its website.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
The Equity Group Inc. In China
Adam Prior, Senior Vice President Lucy Ma, Associate
(212) 836-9606 +86 10 5661 7012
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SOURCE Blue Hat Interactive Entertainment Technology