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Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) Finalizes Strategic Agreement to Equip Schools with Smart AR Tech

  • A strategic partnership is expected to enable Blue Hat to modernize classrooms across Guangzhou, China
  • Through the agreement, Blue Hat will begin the development of augmented reality solutions for the education sector
  • VR and AR are prominent in China, where both the government and provincial authorities are encouraging the introduction of technological initiatives in the field of education

Chinese augmented reality software developer Blue Hat Interactive Entertainment Technology (NASDAQ: BHAT) announced on April 30 the finalization of a strategic agreement with Guangdong Family Periodicals Group.

Through the partnership, the two enterprises will work toward the development of innovative educational solutions that feature Blue Hat’s innovative technologies, as the company detailed in a press release (http://nnw.fm/b3mtB).

The Guangdong Family Periodicals Group was established in 2002 as the first journal group in China. During the same year, the group was identified as one of the top-seven cultural industry groups supported in its endeavors by Guangdong Province.

Various magazines are currently being published as a part of the Guangdong Family Periodicals Group portfolio. Winning the Future is one of the most prominent conceptual projects launched by the group. Apart from printing traditional periodicals, Guangdong Family Periodicals Group also invests in digital projects like electronic and mobile magazines.

The partnership between the two entities is a result of technological advances over the past few years. The advent of 5G technology will make the widespread adoption of AR solutions a simpler task. This infrastructural development will enable innovators like Blue Hat to offer cutting-edge solutions to various types of consumers. The introduction of AR in Chinese schools is expected to give children an interactive platform that can enhance the learning experience and make it more entertaining.

Through the partnership, Blue Hat and Guangdong Family Periodicals Group will aim to create the so-called ‘AR Smart Kindergarten’.

China’s government has been focused on AR and virtual reality (VR) development for some time already, with special emphasis being put on the education sector. In 2016, the Ministry of Industry and Information Technology established the Industry of Virtual Reality Alliance – the first ever government-backed alliance to focus on these technologies. The entity encompasses academic labs, research centers and educational institutions across China (http://nnw.fm/x4KR1).

On a local level, numerous municipalities have also been encouraging technological transformation in education. Guizhou Province launched its Virtual Reality Town, an initiative aimed at helping businesses across different sectors to realize opportunities in virtual reality (http://nnw.fm/ZmS1K), while the Shenzhen Municipal Government set up a VR research institute in cooperation with HTC Corporation, with a goal of supporting the development of the VR industry in the Shenzhen special economic zone (http://nnw.fm/P4Dul).

VR and AR technologies are also anticipated to have a pronounced effect within the educational field on a global scale. The VR and AR markets are expected to grow at a CAGR of 41.2 percent by 2025, with the entertainment and education industries being two of the primary drivers of growth (http://nnw.fm/Hd02a).

Blue Hat Interactive Entertainment Technology is a China-based augmented reality software technology developer. Its focus falls on the younger market via the integration of toy and game designs with interactive, innovative tech. Founded in 2010, Blue Hat is committed to becoming the most popular interactive entertainment entity developing cutting-edge products for children in China.

For more information, visit the company’s website at www.BlueHatGroup.net

NOTE TO INVESTORS: The latest news and updates relating to BHAT are available in the company’s newsroom at http://nnw.fm/BHAT

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