Blue Hat Announces Joint Operation with New Partner

Rhea-AI Summary

Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has announced a joint operating agreement with Xiamen Traveler Network Technology Co., Ltd. to distribute its proprietary games, "cute monopoly" and "cute game box," globally. TravelerNetwork, with over 10 million paying users across various regions, will have exclusive marketing and distribution rights for these games. This partnership aims to open up overseas gaming markets, enhancing business outcomes for Blue Hat.

Positive

• Joint operating agreement with TravelerNetwork enhances distribution capabilities.
• Access to TravelerNetwork's 10 million paying users offers significant market potential.
• Potential for additional game titles under the agreement can increase revenue streams.

Negative

• None.

XIAMEN, China, Sept. 06, 2022 (GLOBE NEWSWIRE) -- Blue Hat Interactive Entertainment Technology ("Blue Hat" or the "Company") (NASDAQ: BHAT), announced that the Company has reached an agreement with a leading game distributor Xiamen Traveler Network Technology Co., Ltd. (“TravelerNetwork”) to distribute Blue Hat’s proprietary games “cute monopoly” and “cute game box” worldwide. The Company and TravelerNetwork signed a joint operating agreement.

TravelerNetwork is a leading distributor in the gaming industry comprised of teams based primarily in Mainland China, Taiwan, Hong Kong. Over more than 15 years of operation, TravelerNetwork has developed a broad worldwide user base comprising of over 10 million paying users from regions including the Greater China Region, the Middle East, Europe and the Americas. Under the joint operating agreement, TravelerNetwork will have the exclusive right to market and distribute the two Blue Hat games on its platform to its users. The parties expect additional new game titles to be added to the agreement in the future. For more information about TravelerNetwork, please refer to their website: h5.my1737.com.

Management Commentary
TravelerNetwork has excellent global market penetration, product distribution, marketing channels and cloud technology support services. We are confident in this joint operation with them to distribute two of our games. Based on TravelerNetwork’s over 10 million paid userbase worldwide, it can help us open up the overseas gaming market, to deliver improved business outcomes and returns to our investors.

About Blue Hat
Blue Hat is a leading communication services and IDC business provider and a producer, developer and operator of AR interactive entertainment games, toys and educational materials in China. 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.

Forward-Looking Statements 
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, including its Annual Report on Form 20-F. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.

Contacts:
Blue Hat Interactive Entertainment Technology
Phone: +86 (592) 228-0010
Email: ir@bluehatgroup.net

FAQ

What is the significance of the agreement between Blue Hat and TravelerNetwork?

The agreement allows TravelerNetwork to exclusively distribute Blue Hat's games, expanding their market reach significantly.

How many users does TravelerNetwork have?

TravelerNetwork has over 10 million paying users worldwide.

Which games are included in the distribution agreement?

The agreement includes Blue Hat’s "cute monopoly" and "cute game box" games.

What is Blue Hat's stock symbol?

Blue Hat's stock symbol is BHAT, and it is traded on NASDAQ.

What kind of business does Blue Hat operate?

Blue Hat is involved in producing and operating AR interactive entertainment games and educational materials.