October 10, 2020 – Blue Hat Interactive Entertainment Technology, a producer and developer of augmented reality (AR) entertainment games, toys and educational materials in China, has recently announced that Fujian Youth Hand in Hand Educational Technology Co., Ltd (a joint venture the company formed with a third party) and Guangzhou Tongsheng Education Technology Ltd. have reached an agreement to provide Augmented Reality Immersive Classes (ARIC) in Guangzhou over a three-year period.
As part of Blue Hat’s strategic expansion in the Guangdong-Hong Kong-Macao Greater Bay Area, the joint venture will collaborate with Tongsheng Education to launch the AR classes in a total of 320 preschools in Guangzhou over a course of three years, with a goal of launching 20 in the first year, 100 in the second year and 200 the third year.
Blue Hat stated that it previously delivered AR immersive class course demonstrations and teaching experiments to eight preschools in Guangzhou, with a positive reaction by teachers and students as a result of the crossover between entertainment and teaching.
Blue Hat is working to build market share in the Greater Bay Area region The company is also expecting to benefit from the Greater Bay Area’s implementation of an innovation-driven development strategy, and as a result is driving an enhanced marketing campaign of Blue Hat’s ARIC products.
Based on a three-year agency distribution agreement, the companies will operate around the following financial models:
- A monthly course fee of CNY ¥4,000 (approx. USD $600) will be eared by Fujian Youth; or
- A basic service fee of CNY ¥2,000 (approx. USD $300) per month and an additional tuition fee of CNY ¥200 (approx. USD $30) per month for class hours to be shared equally between Fujian Youth and Tongsheng Education; or
- A deposit of CNY ¥10,000 (approx. USD $1,500) will be collected and escrowed by Fujian Youth, and a monthly tuition fee of CNY ¥200 will be shared equally by Fujian Youth and Tongsheng Education.
Xiaodong Chen, Blue Hat’s Chief Executive Officer, commented: “This agreement allows us to further strengthen our market presence in the education sector, which along with augmented reality toys and games, are the three main pillars of Blue Hat’s business model. Our ARIC products have been well received since they were introduced to the market. At present, we have actively promoted them in Guangxi, Guangdong and other provinces and continue to build market share and expand our markets geographically.”
He added, “We are continuing to seek further collaborative measures to maximize the benefits of the Tongsheng Education relationship. We expect that Blue Hat will not only work closely with Tongsheng Education, but also actively build an educational alliance around teacher resources, continuously optimizing system technology, curriculum content and expression forms, and combining different teaching needs in Guangzhou and the Greater Bay Area.”
For more information on Blue Hat and its augmented reality solutions and offerings, please visit the company’s website.
Image credit: Blue Hat