Blue Hat Signs Two-Year Licensing Agreement with Tencent QQ for QQ Penguin Logo and Emoji
Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) has signed a two-year licensing agreement with Tencent QQ, starting March 1, 2021. This deal allows Blue Hat to use the QQ penguin logo and QQ emoji on its acoustic, photoelectronic combination toys, and bubble toys, including promotional materials, pending QQ's approval. QQ, an established social platform in China with around 617 million monthly active users, has made its logo and emoji cultural icons. The agreement aims to boost Blue Hat's market exposure and customer attraction.
- New revenue streams expected from the licensing agreement with Tencent QQ.
- Access to a wide audience through collaboration with a popular platform with 617 million users.
- Dependence on Tencent QQ for marketing materials could lead to delays or restrictions in promotional activities.
XIAMEN, China, April 15, 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 two-year licensing agreement with Tencent QQ ("QQ"), an instant messaging and social platform for PC and mobile users, to use its intellectual property ("IP") of the QQ penguin logo and QQ emoji on Blue Hat's toy products and related marketing materials, effective March 1, 2021.
According to the terms of the agreement, Blue Hat is authorized to use the name and IP images on its acoustic and photoelectronic combination toys and bubble toys, as well as on any related instructions, packaging and promotional materials and activities, including online and offline marketing campaigns and product displays, subject to the advance approval by QQ. QQ is obligated to provide such IP materials to Blue Hat.
Launched in 1999, QQ has been an easy-to-use instant messaging and social platform for PC and mobile users, readily recognized by its a cute penguin logo. QQ's success has been built on its various features including avatars, video and voice calls, file transfer, and built-in mailbox. With these features, QQ has become one of the most commonly used instant messengers in China, with approximately 617 million monthly active users by September 2020. For decades, the QQ logo and QQ emoji have been a pop culture phenomenon in China.
Mr. Xiaodong Chen, CEO of Blue Hat, stated, "We are pleased to partner with QQ under this licensing agreement for their well-known QQ penguin logo and QQ emoji. We believe these efforts will increase Blue Hat's exposure and attract more customers over the course of the next two years."
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.
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. 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
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SOURCE Blue Hat Interactive Entertainment Technology
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