Document:

Exhibit 4.2

 

Form of Representative’s Warrant
to Purchase Ordinary Shares

THE REGISTERED HOLDER OF THIS PURCHASE
WARRANT BY ITS ACCEPTANCE HEREOF, AGREES THAT IT WILL NOT SELL, TRANSFER OR ASSIGN THIS PURCHASE WARRANT EXCEPT AS HEREIN PROVIDED
AND THE REGISTERED HOLDER OF THIS PURCHASE WARRANT AGREES THAT IT WILL NOT SELL, TRANSFER, ASSIGN, PLEDGE OR HYPOTHECATE THIS PURCHASE
WARRANT OR CAUSE IT TO BE THE SUBJECT OF ANY HEDGING, SHORT SALE, DERIVATIVE, PUT, OR CALL TRANSACTION THAT WOULD RESULT IN THE
EFFECTIVE ECONOMIC DISPOSITION OF THIS PURCHASE WARRANT BY ANY PERSON FOR A PERIOD OF ONE HUNDRED EIGHTY (180) DAYS FOLLOWING THE
EFFECTIVE DATE (DEFINED BELOW) TO ANYONE OTHER THAN (I) VIEWTRADE SECURITIES, INC. OR AN UNDERWRITER OR A SELECTED DEALER IN CONNECTION
WITH THE OFFERING, OR (II) A BONA FIDE OFFICER OR PARTNER OF VIEWTRADE SECURITIES, INC. OR OF ANY SUCH UNDERWRITER OR SELECTED
DEALER AND IN ACCORDANCE WITH FINRA RULE 5110(G)(2).

THIS PURCHASE WARRANT IS VOID AFTER
5:00 P.M., EASTERN TIME, [●].[1]

PURCHASE WARRANT

For the Purchase of [●] Ordinary
Shares

of

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY

1.                  Purchase
Warrant. THIS CERTIFIES THAT, pursuant to that certain Underwriting Agreement, dated [●] (the
“Underwriting Agreement”), by and between BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY (the
“Company”), and ViewTrade Securities, Inc., as representative of the underwriters named on Annex A
thereto, providing for the initial public offering (the “Offering”) of ordinary shares, par value US$0.001
per share, of the Company (the “Ordinary Shares”), ViewTrade Securities, Inc. or its assigns
(“Holder”), as registered owner of this Purchase Warrant, is entitled, at any time or from time to time on
or after [●] (the “Commencement Date”)[2],
and at or before 5:00 p.m., Eastern time, [●][3]
(the “Expiration Date”), but not thereafter, to subscribe for, purchase and receive, in whole or in part,
up to [●][4] Ordinary Shares (the
“Shares”), subject to adjustment as provided in Section 6 hereof. If the Expiration Date is a day
on which banking institutions are authorized by law or executive order to close, then this Purchase Warrant may be exercised
on the next succeeding day which is not such a day in accordance with the terms herein. During the period commencing on the
date hereof and ending on the Expiration Date, the Company agrees not to take any action that would terminate this Purchase
Warrant. This Purchase Warrant is initially exercisable at $[●] per Share[5]; provided, however,
that upon the occurrence of any of the events specified in Section 6 hereof, the rights granted by this Purchase Warrant,
including the exercise price per Share and the number of Shares to be received upon such exercise, shall be adjusted as
therein specified. This Purchase Warrant is being issued pursuant to the Underwriting Agreement providing for the Offering.
The term “Effective Date” shall mean the effective date of the registration statement in connection with
the Offering. The term “Exercise Price” shall mean the initial exercise price or the adjusted
exercise price, depending on the context.

_________________

[1] Date that is five years from the Effective Date.

[2] Closing Date.

[3] Date that is five years from the Effective Date.

[4] 10%
of the Shares sold in the Offering.

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2.                 
Exercise.

2.1             
Exercise Form. In order to exercise this Purchase Warrant, the exercise form attached hereto must be duly
executed and completed and delivered to the Company, together with this Purchase Warrant and payment of the Exercise Price for
the Shares being purchased payable in cash by wire transfer of immediately available funds to an account designated by the Company
or by certified check or official bank check to the order of the Company. If the subscription rights represented hereby shall not
be exercised at or before 5:00 p.m., Eastern time, on the Expiration Date, this Purchase Warrant shall become and be void without
further force or effect, and all rights represented hereby shall cease and expire.

2.2             
Cashless Exercise. At any time after the Commencement Date, in lieu of exercising this Purchase Warrant by
payment of cash or check payable to the order of the Company pursuant to Section 2.1 above, Holder may elect to receive
the number of Shares equal to the value of this Purchase Warrant (or the portion thereof being exercised) by surrender of this
Purchase Warrant to the Company, together with the exercise form attached hereto, in which event the Company shall issue to Holder
Shares in accordance with the following formula:

 

Y(A-B)

X = A

Where,

 

X = The number of Shares to be issued to Holder;

Y = The number of Shares that would
be issuable upon exercise of this Purchase Warrant if such exercise were by means of a cash exercise pursuant to Section 2.1
rather than a cashless exercise pursuant to this Section 2.2;

A = The fair market value of one
Share, as determined in accordance with the provisions of this Section 2; and

B = The Exercise Price in effect
under this Purchase Warrant at the time the election to exercise this Purchase Warrant on a cashless basis is made pursuant to
this Section 2.

For purposes of
this Section 2.2, the fair market value of a Share is defined as follows:

(i)                
if the Ordinary Shares are traded on a national securities exchange, the fair market value shall be deemed to be
the closing sales price on such exchange on the Trading Day immediately prior to the date the exercise form is submitted to the
Company in connection with the exercise of this Purchase Warrant; or

______________

[5]
120% of the price of the Shares sold in
the Offering.

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(ii)             
if the Ordinary Shares are traded over-the-counter (i.e., on the OTCQB or OTCQX Markets operated by OTC Markets Group,
Inc., or any similar over-the-counter market), the fair market value shall be deemed to be the closing bid price on the Trading
Day immediately prior to the date the exercise form is submitted to the Company in connection with the exercise of this Purchase
Warrant; or

(iii)           
if there is no active public market for the Ordinary Shares, the value shall be the fair market value thereof, as
determined in good faith by the Company’s Board of Directors.

“Trading
Day” means a date on which the Ordinary Shares are traded on the NYSE, the Nasdaq Capital Market, the Nasdaq Global Market,
the Nasdaq Global Select Market, the New York Stock Exchange or the OTC Bulletin Board (or any successors to any of the foregoing).

For the avoidance
of doubt, if there is no effective registration statement registering, or no current prospectus available for, the resale of the
Shares underlying this Purchase Warrant by the Holder, then this Purchase Warrant may be exercised, in whole or in part, at such
time by means of a cashless exercise in accordance with the provisions of this Purchase Warrant.

2.3             
Mechanics of Exercise.

(i)                
Delivery of Shares Upon Exercise. The Company shall use commercially reasonable efforts to cause the Shares
purchased hereunder to be transmitted by the Transfer Agent to the Holder by crediting the account of the Holder’s prime
broker with The Depository Trust Company through its Deposit or Withdrawal at Custodian system (“DWAC”) if the
Company is then a participant in such system and either (A) there is an effective registration statement permitting the issuance
of the Shares or resale of the Shares or (B) this Purchase Warrant is being exercised via cashless exercise, and otherwise by delivery
to the address specified by the Holder in the Notice of Exercise by the date that is two Trading Days after the latest of (A) the
delivery to the Company of the Notice of Exercise, (B) surrender of this Purchase Warrant (if required) and (C) receipt by the
Company of the aggregate Exercise Price as set forth above (including by cashless exercise, if permitted) (such date, the “Share
Delivery Date”). The Shares shall be deemed to have been issued, and the Holder or any other person so designated to
be named therein shall be deemed to have become a holder of record of such Shares for all purposes, as of the date the Purchase
Warrant has been exercised and payment to the Company of the aggregate Exercise Price (or by cashless exercise, if permitted) has
been received by the Company and all taxes required to be paid by the Holder, if any, pursuant to Section 2.3(vi) prior
to the issuance of such Shares have been paid.

(ii)              Delivery
of New Warrants Upon Exercise. If this Purchase Warrant shall have been exercised in part, the Company shall, at the
written request of the Holder and upon surrender of this Purchase Warrant, at the time of delivery of the Shares, deliver to
the Holder a new Purchase Warrant evidencing the rights of the Holder to purchase the unpurchased Shares called for by this
Purchase Warrant, which new Purchase Warrant shall in all other respects be identical with this Purchase Warrant.

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(iii)           
Rescission Rights. If the Company fails to cause its transfer agent to transmit to the Holder the Shares pursuant
to Section 2.3(i) by the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company,
then the Holder will have the right to rescind such exercise upon written notice to the Company within one Trading Day after the
Share Delivery Date.

(iv)            
Compensation for Buy-In on Failure to Timely Deliver Shares Upon Exercise. In addition to any other rights
available to the Holder, if the Holder has taken all actions necessary under the terms of this Purchase Warrant for such Holder
to receive the Shares, if the Company fails to cause the Transfer Agent to transmit to the Holder the Shares pursuant to an exercise
on or before the Share Delivery Date, unless such failure was not caused by the fault or negligence of the Company, and if after
such date the Holder is required by its broker to purchase (in an open market transaction or otherwise) or the Holder’s brokerage
firm otherwise purchases, Ordinary Shares to deliver in satisfaction of a sale by the Holder of the which the Holder anticipated
receiving upon such exercise (a “Buy-In”), then the Company shall (A) pay in cash to the Holder the amount,
if any, by which (x) the Holder’s total purchase price (including brokerage commissions and any other applicable fees, if
any) for the Ordinary Shares so purchased exceeds (y) the amount obtained by multiplying (1) the number of Shares that the Company
was required to deliver to the Holder in connection with the exercise at issue times (2) the price at which the sell order giving
rise to such purchase obligation was executed, and (B) at the option of the Holder, either reinstate the portion of the Purchase
Warrant and equivalent number of Shares for which such exercise was not honored (in which case such exercise shall be deemed rescinded)
or deliver to the Holder the number of Ordinary Shares that would have been issued had the Company timely complied with its exercise
and delivery obligations hereunder. For example, if the Holder purchases Ordinary Shares having a total purchase price of $11,000
to cover a Buy-In with respect to an attempted exercise of Shares with an aggregate sale price giving rise to such purchase obligation
of $10,000, under clause (A) of the immediately preceding sentence the Company shall be required to pay the Holder $1,000. The
Holder shall provide the Company written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon
request of the Company, evidence of the amount of such loss. Nothing herein shall limit a Holder’s right to pursue any other
remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or
injunctive relief with respect to the Company’s failure to timely deliver Ordinary Shares upon exercise of the Purchase Warrant
as required pursuant to the terms hereof.

(v)              
No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued
upon the exercise of this Purchase Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase
upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount
equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

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(vi)             Charges,
Taxes and Expenses. Issuance of Shares shall be made without charge to the Holder for any issue or transfer tax or other
incidental expense in respect of the issuance of such Shares, all of which taxes and expenses shall be paid by the Company,
and such Shares shall be issued in the name of the Holder or in such name or names as may be directed by the Holder; provided, however,
that, in the event Shares are to be issued in a name other than the name of the Holder, this Purchase Warrant when
surrendered for exercise shall be accompanied by the Assignment Form attached hereto duly executed by the Holder and the
Company may require, as a condition thereto, the payment of a sum sufficient to reimburse it for any transfer tax incidental
thereto. The Company shall pay all transfer agent fees required for same-day processing of any Notice of Exercise.

3.                 
Transfer - General Restrictions. The Holder agrees by his, her or its acceptance hereof, that such Holder
will not: (a) sell, transfer, assign, pledge or hypothecate this Purchase Warrant for a period of one hundred eighty (180) days
following the Effective Date to anyone other than: (i) ViewTrade Securities, Inc. or another underwriter or a selected dealer participating
in the Offering, or (ii) a bona fide officer or partner of ViewTrade Securities, Inc. or of any such underwriter or selected dealer,
in each case in accordance with FINRA Conduct Rule 5110(g)(1), or (b) cause this Purchase Warrant or the securities issuable hereunder
to be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition
of this Purchase Warrant or the securities hereunder, except as provided for in FINRA Rule 5110(g)(2). One hundred eighty (180)
days after the Effective Date, transfers to others may be made subject to compliance with or exemptions from applicable securities
laws. In order to make any permitted assignment, the Holder must deliver to the Company the assignment form attached hereto duly
executed and completed, together with this Purchase Warrant and payment of all transfer taxes, if any, payable in connection therewith.
The Company shall within five (5) business days transfer this Purchase Warrant on the books of the Company and shall execute and
deliver a new Purchase Warrant or Purchase Warrants of like tenor to the appropriate assignee(s) expressly evidencing the right
to purchase the aggregate number of Shares purchasable hereunder or such portion of such number as shall be contemplated by any
such assignment. The Company shall register this Purchase Warrant, upon records to be maintained by the Company for that purpose
(the “Warrant Register”), in the name of the record Holder hereof from time to time. The Company may deem and
treat the registered Holder of this Purchase Warrant as the absolute owner hereof for the purpose of any exercise hereof or any
distribution to the Holder, and for all other purposes, absent actual notice to the contrary.

4.                 
Registration. The Company shall be required to keep a registration statement effective on Form F-1 (or Form
F-3, if the Company is eligible to use such form) until such date that is the earlier of the date when all of the Shares underlying
this Purchase Warrant have been publicly sold by the Holder or such time as Rule 144 or another similar exemption under the Securities
Act of 1933, as amended, is available for the sale of all of such Holder’s Shares underlying this Purchase Warrant without
limitation during a three-month period without registration.

5.                 
New Purchase Warrants to be Issued.

5.1              Partial
Exercise or Transfer. Subject to the restrictions in Section 3 hereof, this Purchase Warrant may be exercised or
assigned in whole or in part. In the event of the exercise or assignment hereof in part only, upon surrender of this Purchase
Warrant for cancellation, together with the duly executed exercise or assignment form and funds sufficient to pay any
Exercise Price and/or transfer tax if exercised pursuant to Section 2 hereto, the Company shall cause to be
delivered to the Holder without charge a new Purchase Warrant of like tenor to this Purchase Warrant in the name of the
Holder evidencing the right of the Holder to purchase the number of Shares purchasable hereunder as to which this Purchase
Warrant has not been exercised or assigned.

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5.2             
Replacement on Loss. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft,
destruction or mutilation of this Purchase Warrant, the Company, at its own expense, shall execute and deliver a new Purchase Warrant
of like tenor and date. Any such new Purchase Warrant executed and delivered as a result of such loss, theft, mutilation or destruction
shall constitute a substitute contractual obligation on the part of the Company.

6.                 
Adjustments.

6.1             
Adjustments to Exercise Price and Number of Shares. The Exercise Price and the number of Shares underlying
this Purchase Warrant shall be subject to adjustment from time to time as hereinafter set forth:

6.1.1       
Share Dividends; Split Ups. If, after the date hereof, and subject to the provisions of Section 6.3
below, the number of outstanding Ordinary Shares is increased by a stock dividend payable in Ordinary Shares or by a split up of
Ordinary Shares, spin off, reclassification, corporate rearrangement, scheme of arrangement or other similar transaction, then,
on the effective day thereof, the number of Shares purchasable hereunder shall be increased in proportion to such increase in outstanding
Ordinary Shares, and the Exercise Price shall be proportionately decreased. Any adjustment made pursuant to this Section 6.1.1
shall become effective immediately after the record date for the determination of stockholders entitled to receive such dividend
or distribution and shall become effective immediately after the effective date in the case of a subdivision, combination or re-classification.

6.1.2       
Subsequent Rights Offerings. In addition to any adjustments pursuant to Section 6.1.1 above, if at
any time during which this Purchase Warrant is outstanding the Company grants, issues or sells any securities of the Company which
by their terms are convertible into or exercisable for Ordinary Shares (“Ordinary Share Equivalents”) or other
rights to purchase stock, warrants, securities or other property, pro rata to all of the record holders of the Ordinary Shares
(the “Purchase Rights”), and not the Holder, then the Holder will be entitled to acquire, upon the terms applicable
to such Purchase Rights, the aggregate Purchase Rights which the Holder could have acquired if the Holder had held the number of
Ordinary Shares acquirable upon complete exercise of this Purchase Warrant immediately before the date on which a record is taken
for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders
of Ordinary Shares are to be determined for the grant, issue or sale of such Purchase Rights. The provisions of this Section
6.1.2 will not apply to any grant, issuance or sale of Ordinary Share Equivalents or other rights to purchase stock, warrants,
securities or other property of the Company which is not made pro rata to all of the record holders of Ordinary Shares.

6.1.3        Aggregation
of Shares. If, after the date hereof, and subject to the provisions of Section 6.3 below, the number of
outstanding Ordinary Shares is decreased by a consolidation, combination or reclassification of Ordinary Shares or other
similar event, then, on the effective date thereof, the number of Shares purchasable hereunder shall be decreased in
proportion to such decrease in outstanding Shares, and the Exercise Price shall be proportionately increased.

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6.1.4       
Replacement of Shares upon Reorganization, etc. In case of any reclassification or reorganization of the outstanding
Ordinary Shares other than a change covered by Section 6.1.1, 6.1.2 or 6.1.3 hereof or that solely affects the par
value of such Ordinary Shares, or in the case of any share reconstruction or amalgamation or merger or consolidation of the Company
with or into another corporation or other entity (other than a consolidation or share reconstruction or amalgamation in which the
Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding Ordinary
Shares), or in the case of any sale or conveyance to another corporation or entity of the property of the Company as an entirety
or substantially as an entirety, or in the case any, direct or indirect, purchase offer, tender offer or exchange offer (whether
by the Company or another person) is completed pursuant to which holders of Ordinary Shares are permitted to sell, tender or exchange
their shares for other securities, cash or property and has been accepted by the holders of 50% or more of the outstanding Ordinary
Shares, or in the case the Company, directly or indirectly, in one or more related transactions effects any reclassification, reorganization
or recapitalization of the Ordinary Shares or any compulsory share exchange pursuant to which the Ordinary Shares are effectively
converted into or exchanged for other securities, cash or property, or (in the case the Company, directly or indirectly, in one
or more related transactions consummates a stock or share purchase agreement or other business combination (including, without
limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with another person or group of persons, whereby
such other Person or group acquires more than 50% of the outstanding Ordinary Shares (not including any Ordinary Shares held by
the other Person or other Persons making or party to, or associated or affiliated with the other Persons making or party to, such
stock or share purchase agreement or other business combination), then the Holder of this Purchase Warrant shall have the right
thereafter (until the expiration of the right of exercise of this Purchase Warrant) to receive upon the exercise hereof, for the
same aggregate Exercise Price payable hereunder immediately prior to such event, the kind and amount of shares of stock or other
securities or property (including cash) receivable upon such reclassification, reorganization, share reconstruction or amalgamation,
or consolidation, or upon a dissolution following any such sale or transfer, by a Holder of the number of Shares of the Company
obtainable upon exercise of this Purchase Warrant immediately prior to such event; and if any reclassification also results in
a change in Shares covered by Section 6.1.1, 6.1.2 or 6.1.3, then such adjustment shall be made pursuant to
Sections 6.1.1, 6.1.2 or 6.1.3 and this Section 6.1.4. The provisions of this Section 6.1.4
shall similarly apply to successive reclassifications, reorganizations, share reconstructions or amalgamations, or consolidations,
sales or other transfers.

6.1.5        Changes
in Form of Purchase Warrant. This form of Purchase Warrant need not be changed because of any change pursuant to this Section
6.1, and any Purchase Warrant issued after such change may state the same Exercise Price and the same number of Shares as
are stated in the initial Purchase Warrant. The acceptance by the Holder of the issuance of a new Purchase Warrant reflecting
a required or permissive change shall not be deemed to waive any rights to an adjustment occurring after the Commencement
Date or the computation thereof.

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6.2             
Substitute Purchase Warrant. In case of any consolidation of the Company with, or share reconstruction or
amalgamation of the Company with or into, another corporation or other entity (other than a consolidation or share reconstruction
or amalgamation which does not result in any reclassification or change of the outstanding Ordinary Shares), the corporation or
other entity formed by such consolidation or share reconstruction or amalgamation shall execute and deliver to the Holder a supplemental
Purchase Warrant providing that the holder of each Purchase Warrant then outstanding or to be outstanding shall have the right
thereafter (until the stated expiration of such Purchase Warrant) to receive, upon exercise of such Purchase Warrant, the kind
and amount of shares of stock and other securities and property receivable upon such consolidation or share reconstruction or amalgamation,
by a holder of the number of Shares of the Company for which such Purchase Warrant might have been exercised immediately prior
to such consolidation, share reconstruction or amalgamation, sale or transfer. Such supplemental Purchase Warrant shall provide
for adjustments which shall be identical to the adjustments provided for in this Section 6. The above provision of this
Section shall similarly apply to successive consolidations or share reconstructions or amalgamations.

6.3             
Elimination of Fractional Interests. The Company shall not be required to issue fractions of Shares upon the
exercise of this Purchase Warrant, nor shall it be required to issue scrip or pay cash in lieu of any fractional interests, it
being the intent of the parties that all fractional interests shall be eliminated by rounding any fraction up or down, as the case
may be, to the nearest whole number of Shares or other securities, properties or rights.

6.4             
Notice to Holder.

6.4.1       
Adjustment to Exercise Price. Whenever the Exercise Price is adjusted pursuant to any provision of this Section
6, the Company shall promptly provide the Holder with a notice setting forth the Exercise Price after such adjustment and any
resulting adjustment to the number of Shares and setting forth a brief statement of the facts requiring such adjustment.

6.4.2        Notice
to Allow Exercise by Holder. If (A) the Company shall declare a dividend (or any other distribution in whatever form) on
the Ordinary Shares, (B) the Company shall declare a special nonrecurring cash dividend on or a redemption of the Ordinary
Shares , (C) the Company shall authorize the granting to all holders of the Ordinary Shares rights or warrants to subscribe
for or purchase any shares of capital stock of any class or of any rights, (D) the approval of any stockholders of the
Company shall be required in connection with any reclassification of the Ordinary Shares, any consolidation or merger to
which the Company is a party, any sale or transfer of all or substantially all of the assets of the Company, or any
compulsory share exchange whereby the Ordinary Shares are converted into other securities, cash or property, or (E) the
Company shall authorize the voluntary or involuntary dissolution, liquidation or winding up of the affairs of the Company,
then, in each case, the Company shall provide the Holder with, at least 10 days prior to the applicable record or effective
date hereinafter specified, a notice stating (x) the date on which a record is to be taken for the purpose of such dividend,
distribution, redemption, rights or warrants, or if a record is not to be taken, the date as of which the holders of the
Ordinary Shares of record to be entitled to such dividend,

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distributions, redemption, rights or warrants are to be determined
or (y) the date on which such reclassification, consolidation, merger, sale, transfer or share exchange is expected to become
effective or close, and the date as of which it is expected that holders of the Ordinary Shares of record shall be entitled
to exchange their Ordinary Shares for securities, cash or other property deliverable upon such reclassification,
consolidation, merger, sale, transfer or share exchange; provided that the failure to provide such notice or any
defect therein or in the provision thereof shall not affect the validity of the corporate action required to be specified in
such notice. The Holder shall remain entitled to exercise this Purchase Warrant during the period commencing on the date of
such notice to the effective date of the event triggering such notice except as may otherwise be expressly set
forth herein.

7.                 
Reservation and Listing; Registration Rights.

7.1             
The Company shall at all times reserve and keep available out of its authorized Ordinary Shares, solely for the purpose
of issuance upon exercise of this Purchase Warrant, such number of Shares or other securities, properties or rights as shall be
issuable upon the exercise thereof. The Company covenants and agrees that, upon exercise of this Purchase Warrant and payment of
the Exercise Price therefor, in accordance with the terms hereby, all Shares and other securities issuable upon such exercise shall
be duly and validly issued, fully paid and non-assessable and not subject to preemptive or similar rights of any stockholder and
free and clear of all liens, taxes and charges. As long as this Purchase Warrant shall be outstanding, the Company shall use commercially
reasonable efforts to cause all Shares issuable upon exercise of this Purchase Warrant to be listed (subject to official notice
of issuance) on all national securities exchanges (or, if applicable, on the OTCQB or OTCQX Markets operated by OTC Markets Group,
Inc., or any similar over-the-counter market) on which the Shares issued to the public in the Offering may then be listed and/or
quoted.

7.2              To
the extent the Company does not maintain an effective registration statement for the Shares and cashless exercise is
unavailable to any Holder under Section 2.2 hereof pursuant to which all of the Shares issuable upon exercise of
this Purchase Warrant under Section 2.2 would be tradable upon exercise of this Purchase Warrant upon issuance, and in
the further event that the Company files a registration statement with the Securities and Exchange Commission to register its
Ordinary Shares (other than a registration statement on Form F-4 or S-8, or on another form, or in another context, in which
such “piggyback” registration would be inappropriate), then, for the term of this Purchase Warrant, the Company
shall give written notice of such proposed filing to the Holder as soon as practicable but in no event less than 20 days
before the anticipated filing date, which notice shall describe the amount and type of securities to be included in such
offering, the intended method(s) of distribution, and the name of the proposed managing underwriter or underwriters, if any,
of the offering, and offer to the Holder in such notice the opportunity to register the sale of such number of Shares as such
Holder may request in writing within five days following receipt of such notice (a “Piggyback
Registration”). The Company shall use commercially reasonable efforts to cause such Shares to be included in such
registration and shall use commercially reasonable efforts to cause the managing underwriter or underwriters of a proposed
underwritten offering to permit the Shares requested to be included in a Piggyback Registration on the same terms and
conditions as any similar securities of the Company and to permit the sale or other disposition of such Shares in accordance
with the intended method(s) of distribution thereof. All Holders proposing to distribute their securities through a Piggyback
Registration that involves an underwriter or underwriters shall enter into an underwriting agreement in customary form with
the underwriter or underwriters selected for such Piggyback Registration. Notwithstanding the provisions of this Section 7.2,
such right to request Piggyback Registration shall terminate on the fifth anniversary of the Effective Date, in
accordance with FINRA Rule 5110(f)(2)(G)(v).

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8.                 
Certain Notice Requirements.

8.1             
Holder’s Right to Receive Notice. Nothing herein shall be construed as conferring upon the Holder the
right to vote or consent or to receive notice as a stockholder for the election of directors or any other matter, or as having
any rights whatsoever as a stockholder of the Company. If, however, at any time prior to the expiration of this Purchase Warrant
and its exercise, any of the events described in Section 8.2 shall occur, then, in one or more of said events, the Company
shall give written notice of such event at least fifteen (15) days prior to the date fixed as a record date or the date of closing
the transfer books (the “Notice Date”) for the determination of the stockholders entitled to such dividend,
distribution, conversion or exchange of securities or subscription rights, or entitled to vote on such proposed dissolution, liquidation,
winding up or sale. Such notice shall specify such record date or the date of the closing of the transfer books, as the case may
be. Notwithstanding the foregoing, the Company shall deliver to each Holder a copy of each notice given to the other stockholders
of the Company at the same time and in the same manner that such notice is given to the stockholders; provided, however, that the
Company shall not be obligated to provide any written notice under this Section 8 if it makes a public announcement of the
applicable event via nationally distributed press release or via a publicly available and legally compliant filing with the U.S.
Securities and Exchange Commission.

8.2             
Events Requiring Notice. The Company shall be required to give the notice described in this Section 8
upon one or more of the following events: (i) if the Company shall take a record of the holders of its shares for the purpose of
entitling them to receive a dividend or distribution payable otherwise than in cash, or a cash dividend or distribution payable
otherwise than out of retained earnings, as indicated by the accounting treatment of such dividend or distribution on the books
of the Company, (ii) the Company shall offer to all the holders of its shares any additional shares of capital stock of the Company
or securities convertible into or exchangeable for shares of capital stock of the Company, or any option, right or warrant to subscribe
therefor, or (iii) a dissolution, liquidation or winding up of the Company (other than in connection with a consolidation or share
reconstruction or amalgamation) or a sale of all or substantially all of its property, assets and business shall be proposed.

8.3              Notice
of Change in Exercise Price; Notice of Exercise Price. The Company shall, within five (5) business days after an event
requiring a change in the Exercise Price pursuant to Section 6 hereof, send notice to the Holder of such event and
change (“Price Notice”). The Price Notice shall describe the event causing the change and the method of
calculating the same and shall be certified as being true and accurate by the Company’s Chief Executive Officer and
Chief Financial Officer. The Company shall, within five (5) business days after receipt by the Company of a written
request by the Holder, send notice to the Holder of the Exercise Price then in effect and the number of Shares or the amount,
if any, of other shares of stock, securities or assets then issuable upon exercise of this Purchase Warrant and shall be
certified as being true and accurate by the Company’s Chief Executive Officer and Chief Financial Officer.

    	10 

    	 

    

 

8.4             
Transmittal of Notices. All notices, requests, consents and other communications under this Purchase Warrant
shall be in writing and shall be deemed to have been duly made when (1) hand delivered, (2) mailed by express mail or private courier
service, or (3) if sent by electronic mail, on the day the notice was sent if during regular business hours and, if sent outside
of regular business hours, on the following business day, to following addresses or to such other addresses as the Company or Holder
may designate by notice to the other party:

If to the Holder:

ViewTrade Securities, Inc.

7280 W. Palmetto Park Road, Suite 310

Boca Raton, FL 33433

Attention: Douglas Aguililla

Email: dougagui@viewtrade.com

with a copy (which shall not constitute notice) to:

Hunter Taubman Fischer & Li LLC

1450 Broadway, 26th Floor

New York, NY 10018

Attention: Louis Taubman, Esq.

Email: ltaubman@htflawyers.com

If to the Company:

Blue Hat Interactive Entertainment Technology

7th Floor, Building C, No. 1010 Anling Road

Huli District, Xiamen, China

Attention: Xiaodong Chen, Chief Executive Officer

Email: sean@bluehatgroup.net

with a copy (which shall not constitute notice) to:

K&L Gates LLP

Southeast Financial Center, Suite 3900

200 South Biscayne Boulevard

Miami, Florida 33131-2399

Attention: Clayton E. Parker, Esq.

Email: Clayton.Parker@klgates.com

9.                 
Miscellaneous.

9.1             
Amendments. The Company and the Holder may from time to time supplement, modify or amend this Purchase Warrant
by a written agreement signed by the Company and the Holder. All modifications or amendments shall require the written consent
of and be signed by the party against whom enforcement of the modification or amendment is sought.

    	11 

    	 

    

9.2             
Headings. The headings contained herein are for the sole purpose of convenience of reference, and shall not
in any way limit or affect the meaning or interpretation of any of the terms or provisions of this Purchase Warrant.

9.3             
Entire Agreement. This Purchase Warrant (together with the other agreements and documents being delivered
pursuant to or in connection with this Purchase Warrant) constitutes the entire agreement of the parties hereto with respect to
the subject matter hereof, and supersedes all prior agreements and understandings of the parties, oral and written, with respect
to the subject matter hereof.

9.4             
Binding Effect. This Purchase Warrant shall inure solely to the benefit of and shall be binding upon, the
Holder and the Company and their permitted assignees, respective successors, legal representative and assigns, and no other person
shall have or be construed to have any legal or equitable right, remedy or claim under or in respect of or by virtue of this Purchase
Warrant or any provisions herein contained.

9.5             
Governing Law; Submission to Jurisdiction; Trial by Jury. This Purchase Warrant shall be governed by and construed
and enforced in accordance with the internal laws of the State of Florida, without giving effect to conflict of laws principles
thereof. The Company hereby agrees that any action, proceeding or claim against it arising out of, or relating in any way to this
Purchase Warrant shall be brought and enforced in the U.S. federal and state courts in the Seventeenth Judicial Circuit Court in
and for Palm Beach Country, Florida or the United States District Court for the Southern District of Florida, Fort Lauderdale Division,
and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. The Company hereby waives any objection to
such exclusive jurisdiction and that such courts represent an inconvenient forum. Any process or summons to be served upon the
Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid,
addressed to it at the address set forth in Section 8.4 hereof. Such mailing shall be deemed personal service and shall
be legal and binding upon the Company in any action, proceeding or claim. The Company and the Holder agree that the prevailing
party(ies) in any such action shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees
and expenses relating to such action or proceeding and/or incurred in connection with the preparation therefor. The Company (on
its behalf and, to the extent permitted by applicable law, on behalf of its stockholders and affiliates) and the Holder hereby
irrevocably waive, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding
arising out of or relating to this Purchase Warrant or the transactions contemplated hereby.

9.6             
Waiver, etc. The failure of the Company or the Holder to at any time enforce any of the provisions of this
Purchase Warrant shall not be deemed or construed to be a waiver of any such provision, nor to in any way affect the validity of
this Purchase Warrant or any provision hereof or the right of the Company or any Holder to thereafter enforce each and every provision
of this Purchase Warrant. No waiver of any breach, non-compliance or non-fulfillment of any of the provisions of this Purchase
Warrant shall be effective unless set forth in a written instrument executed by the party or parties against whom or which enforcement
of such waiver is sought; and no waiver of any such breach, non-compliance or non-fulfillment shall be construed or deemed to be
a waiver of any other or subsequent breach, non-compliance or non-fulfillment.

    	12 

    	 

    

9.7             
Successors and Assigns. Subject to applicable securities laws, this Purchase Warrant and the rights and obligations
evidenced hereby shall inure to the benefit of and be binding upon the successors and permitted assigns of the Company and the
successors and permitted assigns of Holder. The provisions of this Purchase Warrant are intended to be for the benefit of any Holder
from time to time of this Purchase Warrant and shall be enforceable by the Holder or holder of this Purchase Warrant.

9.8             
Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company
of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Purchase Warrant or any stock certificate
relating to the Shares, if stock certificates are issued, and in case of loss, theft or destruction, of indemnity or security reasonably
satisfactory to it (which, in the case of the Purchase Warrant, shall not include the posting of any bond), and upon surrender
and cancellation of such Purchase Warrant or stock certificate, if stock certificates are issued, if mutilated, the Company will
make and deliver a new Purchase Warrant or stock certificate, if stock certificates are issued, of like tenor and dated as of such
cancellation, in lieu of such Purchase Warrant or stock certificate, if stock certificates are issued.

9.9             
Remedies. The Holder, in addition to being entitled to exercise all rights granted by law, including recovery
of damages, will be entitled to specific performance of its rights under this Purchase Warrant. The Company agrees that monetary
damages would not be adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Purchase
Warrant and hereby agrees to waive and not to assert the defense in any action for specific performance or other equitable remedy
that a remedy at law would be adequate.

9.10         
Severability. Wherever possible, each provision of this Purchase Warrant shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Purchase Warrant shall be prohibited by or invalid
under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating
the remainder of such provision or the remaining provisions of this Purchase Warrant.

9.11         
Execution in Counterparts. This Purchase Warrant may be executed in one or more counterparts, and by the different
parties hereto in separate counterparts, each of which shall be deemed to be an original, but all of which taken together shall
constitute one and the same agreement, and shall become effective when one or more counterparts has been signed by each of the
parties hereto and delivered to each of the other parties hereto. Such counterparts may be delivered by facsimile transmission
or other electronic transmission.

[Signature Page Follows]

    	13 

    	 

    

 

IN WITNESS WHEREOF, the Company has caused
this Purchase Warrant to be signed by its duly authorized officer as of the ______ day of                           .

BLUE HAT INTERACTIVE ENTERTAINMENT TECHNOLOGY

By:                                                               

Name:

Title:

Acknowledged and Agreed

VIEWTRADE SECURITIES, INC.

By:                                                       

Name:

Title:

 

    	14 

    	 

    

 

Form
of Exercise

The undersigned holder
hereby exercises the right to purchase _________________ ordinary shares (“Warrant Shares”) of BLUE HAT INTERACTIVE
ENTERTAINMENT TECHNOLOGY (the “Company”), evidenced by the attached Purchase Warrant (the “Purchase
Warrant”). Capitalized terms used herein and not otherwise defined shall have the respective meanings set forth in the
Purchase Warrant. Please issue the Warrant Shares as to which the Purchase Warrant is exercised in accordance with the instructions
given below and, if applicable, a new Purchase Warrant representing the number of Warrant Shares for which the Purchase Warrant
has not been exercised.

 

1. Form of Exercise
Price. The Holder intends that payment of the Exercise Price shall be made as:

 

____________a
“Cash Exercise” with respect to _________________ Warrant Shares; and/or

 

____________a
“Cashless Exercise” with respect to _______________ Warrant Shares.

 

2. Payment of Exercise Price. In
the event that the holder has elected a Cash Exercise with respect to some or all of the Warrant Shares to be issued pursuant hereto,
the holder shall pay the aggregate Exercise Price in the sum of $ to the Company in accordance with the terms of the
Purchase Warrant.

 

3. Delivery of Warrant
Shares. The Company shall deliver to the holder __________ Warrant Shares in accordance with the terms of the Purchase Warrant.
Please issue said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

_______________________________

 

The Warrant Shares shall be delivered to the
following DWAC Account Number:

 

_______________________________

 

_______________________________

 

_______________________________

 

Date: _______________ __, ______

 

 

Name of Registered Holder

 

By:                                                   

Name:

Title:

    	15 

    	 

    

 

INSTRUCTIONS FOR REGISTRATION OF SECURITIES

 

 

Name: ___________________________________

 

(Print in Block Letters)

 

Address: _________________________________

 

_________________________________

 

 

_________________________________

 

NOTICE: The signature to
this form must correspond with the name as written upon the face of the Purchase Warrant without alteration or enlargement or any
change whatsoever, and must be guaranteed by a bank, other than a savings bank, or by a trust company or by a firm having membership
on a registered national securities exchange.

 

    	16 

    	 

    

 

FORM OF ASSIGNMENT

FOR VALUE RECEIVED, the undersigned
registered owner of this Purchase Warrant hereby sells, assigns and transfers unto the Assignee named below all of the rights of
the undersigned to purchase ordinary shares, par value $0.001 per share, of Blue Hat Interactive Entertainment Technology
(the “Company”), evidenced by this Purchase Warrant, with respect to the number of ordinary shares set forth
below.

	Name of Assignee	 	Address and Phone Number	 	No. of Shares
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

The undersigned also represents that, by assignment
hereof, the Assignee acknowledges that this Purchase Warrant and the ordinary shares to be issued upon exercise hereof or conversion
thereof are being acquired for investment and that the Assignee will not offer, sell or otherwise dispose of this Purchase Warrant
or any ordinary shares to be issued upon exercise hereof or conversion thereof except under circumstances which will not result
in a violation of the Securities Act of 1933, as amended, or any state securities laws. Further, the Assignee has acknowledged
that upon exercise of this Purchase Warrant, the Assignee shall, if requested by the Company, confirm in writing, in a form satisfactory
to the Company, that the ordinary shares so purchased are being acquired for investment and not with a view toward distribution
or resale.

 

 

	 
	Signature of Holder
	 
	Date

 

The undersigned assignee agrees to be bound
by all of the terms and conditions of this Purchase Warrant.

 

	 
	Signature of Assignee
	 
	Date

 

    	17Exhibit 10.7

 

INDEMNIFICATION ESCROW AGREEMENT

THIS INDEMNIFICATION ESCROW AGREEMENT
(this “Agreement”) dated as of [●], 2019 is entered into by and among Blue Hat Interactive Entertainment
Technology (the “Company”), ViewTrade Securities, Inc. (the “Underwriter”), and Pearlman
Law Group LLP (the “Escrow Agent”).

WITNESSETH:

WHEREAS, the Company is offering
(the “Offering”) on a firm commitment basis [●] ordinary shares of the Company, par value $0.001 (plus
up to [●] ordinary shares that the underwriters in the Offering have the option to purchase and such further ordinary shares
as may be registered pursuant to Rule 462), at an offering price of $[●] per share;

WHEREAS, the Company and Underwriter
expect that the Offering will close on or before the close of business on [●], 2019 (the “Closing Date”);

WHEREAS, upon the closing of
the Offering, the Company has agreed to deposit an aggregate amount of Six Hundred Thousand Dollars ($600,000) (the “Escrowed
Funds”) from the proceeds of the Offering to be received by the Company with the Escrow Agent in an interest bearing
escrow account, to be held, invested and disbursed by the Escrow Agent pursuant to the terms and conditions of this Agreement;
and

WHEREAS, the Escrow Agent is
willing to hold the Escrowed Funds and Investment Gain Funds (as such term is defined in Section 3(d)(v) below) in escrow
pursuant to and subject to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration
of the mutual promises herein contained and intending to be legally bound hereby, the parties hereto hereby agree as follows:

1.                  
Appointment of Escrow Agent. The Company and the Underwriter hereby appoint the Escrow Agent as escrow agent in accordance
with the terms and subject to the conditions set forth herein and the Escrow Agent hereby accepts such appointment.

2.                  
Delivery of the Escrowed Funds. Upon the closing of the Offering, the Escrowed Funds shall be delivered on behalf
of the Company to the Escrow Agent, as escrow agent, into an interest bearing escrow account maintained by the Escrow Agent (the
“Escrow Account”) by wire transfer in accordance with the wire transfer instructions set forth on Schedule
A hereto. Such Escrow Account shall bear interest at such rates as provided from time to time by the bank account in which
the Escrow Funds are deposited. In no event shall the aggregate amount of Escrowed Funds delivered to the Escrow Account be less
than Six Hundred Thousand Dollars ($600,000).

3.                  
Escrow Agent to Hold and Disburse the Escrowed Funds and Investment Gain Funds. The Escrow Agent will retain the
Escrowed Funds and Investment Gain Funds in an escrow account and disburse the Escrowed Funds and Investment Gain Funds pursuant
to the terms of this Agreement, as follows:

a.                   The
Escrowed Funds shall be held by the Escrow Agent for the purpose of satisfying the initial $600,000 of the
indemnification obligations of the Company, with respect to the Escrowed Funds, pursuant to Section 2 of the Underwriting
Agreement dated [●], 2019 by and between the Company and the Underwriter, for a period of 24 months from the closing of
the Offering. Disbursement of such Escrowed Funds and Investment Gain Funds shall be determined by an independent third-party
trustee (who shall have the requisite experience determining indemnification claims), to be chosen by mutual written consent
of the Company and the Underwriter. If the Company and the Underwriter are unable to agree on such trustee within 30 days
upon a written claim for indemnification by the Underwriter, such trustee shall be a single arbitrator (with the requisite
experience in determining indemnification claims) selected by the American Arbitration Association’s Florida
office.

    	1 

    	 

    

 

b.                  
Notwithstanding the last sentence of the prior paragraph, in the event that any litigation or proceeding arising out of
any matter in connection with the Offering in connection to the Underwriter acting in its capacity as underwriter (which matter
would be covered by the Company’s indemnification obligations under the Underwriting Agreement) within 24 months following
the Closing Date and in which the Company, the Underwriter, the Escrow Agent or the Escrowed Funds becomes the subject of such
litigation or proceeding, the Underwriter and the Company hereby authorize the Escrow Agent, at the Underwriter’s sole instruction
upon Underwriter’s written notice to the Escrow Agent if not otherwise so required, to release and deposit the Escrowed Funds
with the clerk of the court in which the litigation is pending for the purpose of indemnifying and defending the Underwriter in
such litigation and proceeding, and thereupon the Escrow Agent shall be relieved and discharged of any further responsibility with
regard thereto to the extent determined by any such court. The Company and the Underwriter further hereby authorize the Escrow
Agent, if it receives conflicting claims to any of the Escrowed Funds, is threatened with litigation in its capacity as escrow
agent under this Agreement, or if the Escrow Agent determines it is necessary to do so for any other reason relating to this Agreement
or the Offering, to interplead all interested parties in any court of competent jurisdiction and to deposit the Escrowed Funds
with the clerk of that court and thereupon the Escrow Agent shall be relieved and discharged of any further responsibility hereunder
to the parties from which they were received to the extent determined by such court.

c.                  
In all instances, if either (i) no claim for indemnity is made by the Underwriter during the 24-month period from the closing
of the Offering or (ii) it is finally determined that the Underwriter is not entitled to any disbursement (or any further disbursement,
as the case may be) of Escrowed Funds by the conclusion of the 24-month period from the closing of the Offering, the Escrow Agent
shall, upon joint written instruction from the Company and the Underwriter, disburse to the Company the full balance of the Escrowed
Funds then held by wire transfer of immediately available funds to an account designated by the Company.

d.                  
Upon written instruction of the Company, with a copy to the Underwriter the Escrow Agent may invest the Escrowed Funds during
the term of the Agreement as follows:

i.                   
The Escrowed Funds may be invested in issuers listed on U.S. national securities exchanges; provided that (1) no investments
may be made in the Company’s securities; (2) no more than 20% of the Escrowed Funds may be invested in one issuer; (3) no
more than 50% of the Escrowed Funds may be invested in issuers that have: (A) a market capitalization of less than $1.0 billion;
(B) been public for less than two years; and (C) less than $1.0 million in average daily volume for the 30 days preceding such
investment.

ii.                 
In the event the aggregate value of the Escrowed Funds plus the Investment Gain Funds in the Escrow Account decreases to
less than 81% of the original amount ($600,000) of Escrowed Funds (“Minimum Equity”) for more than 20 consecutive
trading days, the Company shall promptly (but no later than 10 calendar days following the 20 consecutive trading days following
the decrease of less than 81%) add funds to the Escrow Account to maintain the Minimum Equity.

iii.               
Upon the account reaching Minimum Equity, the Company may not open any additional positions until the account is above the
Minimum Equity.

    	2 

    	 

    

 

iv.                
Upon request from the Company, the Escrow Agent shall establish a brokerage account in the Company’s name with a FINRA
registered broker-dealer chosen by the Company and reasonably satisfactory to the Underwriter (the “Escrow Broker”).
All proposed transactions will be submitted by the Company in writing to the Underwriter with a confirmation by the Company that
such transaction(s) meet the criteria set forth in Sections 3(d)(i)-(iii). The Underwriter will have two business days after
receipt to review the submission. Unless the Underwriter disagrees in writing that the transaction(s) meet the criteria set forth
in Sections 3(d)(i)-(iii) prior to the end of the second business day after receipt of the written submission by the Company,
the Company may submit the transaction request to the Escrow Agent for submission to the Escrow Broker with a copy to the Underwriter.
The Escrow Agent shall instruct the Escrow Broker to submit confirmations of all transactions to the Escrow Agent, the Company
and the Underwriter.

v.                  
All income derived from the investments pursuant to this Section 3(d) in excess of the Escrowed Funds (“Investment
Gain Funds”) shall be disbursed to the Company as set forth in Section 3(a) above, provided that to the extent
Investment Gain Funds exceed $50,000 in excess of the Minimum Equity, the Company shall be permitted to request a disbursement
of such excess funds in an amount of no less than $50,000 on March 31, June 30, September 30 or December 31 of any year during
the term of this Agreement prior to the 24 month period set forth in Section 3(a).

4.                  
Exculpation and Indemnification of Escrow Agent.

a.                  
The Escrow Agent shall have no duties or responsibilities other than those expressly set forth herein. The Escrow Agent
shall have no duty to enforce any obligation of any person to make any payment or delivery, or to direct or cause any payment or
delivery to be made other than as set forth herein, or to enforce any obligation of any person to perform any other act. The Escrow
Agent shall be under no liability to the other parties hereto or anyone else, by reason of any failure, on the part of any party
hereto or any maker, guarantor, endorser or other signatory of a document or any other person, to perform such person’s obligations
under any such document. Except for amendments to this Agreement referenced below, and except for written instructions given to
the Escrow Agent by the Company and the Underwriter relating to the Escrowed Funds, the Escrow Agent shall not be obligated to
recognize any agreement between or among any of the Company and the Underwriter, notwithstanding that references thereto may be
made herein and the Escrow Agent has knowledge thereof.

b.                  
The Escrow Agent shall not be liable to the Company, the Underwriter, or to anyone else for any action taken or omitted
by it, or any action suffered by it to be taken or omitted, in good faith and acting upon any order, notice, demand, certificate,
opinion or advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report, or other paper or document
(not only as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability
of any information therein contained), which is reasonably believed by the Escrow Agent to be genuine and to be signed or presented
by the proper party or parties hereunder. The Escrow Agent shall not be bound by any of the terms thereof, unless evidenced by
written notice delivered to the Escrow Agent signed by the proper party or parties hereunder and, if the duties or rights of the
Escrow Agent are affected, unless it shall give its prior written consent thereto.

c.                  
The Escrow Agent shall not be responsible for the sufficiency or accuracy of the form, or of the execution, validity, value
or genuineness of, any document or property received, held or delivered to it hereunder, or of any signature or endorsement thereon,
or for any lack of endorsement thereon, or for any description therein; nor shall the Escrow Agent be responsible or liable to
the Company, the Underwriter, or to anyone else in any respect on account of the identity, authority or rights, of the person executing
or delivering or purporting to execute or deliver any document or property or this Agreement.

    	3 

    	 

    

 

Except as otherwise set forth
herein, the Escrow Agent shall have no responsibility with respect to the use or application of the Escrowed Funds pursuant to
the provisions hereof.

d.                  
The Escrow Agent shall have the right to assume, in the absence of written notice to the contrary from the proper party
or parties hereunder, that a fact or an event, by reason of which an action would or might be taken by the Escrow Agent, does not
exist or has not occurred, without incurring liability to the Company, the Underwriter, or to anyone else for any action taken
or omitted to be taken or omitted, in good faith and in the exercise of its own best judgment, in reliance upon such assumption.

e.                  
To the extent that the Escrow Agent becomes liable for the payment of taxes, including withholding taxes, in respect of
the Investment Gain Funds, or any payment made hereunder, the Escrow Agent may pay such taxes from the Escrowed Funds; and the
Escrow Agent may withhold from any payment of the Escrowed Funds and Investment Gain Funds such amount as the Escrow Agent estimates
to be sufficient to provide for the payment of such taxes not yet paid, and may use the sum withheld for that purpose. The Escrow
Agent shall be indemnified and held harmless against any liability for taxes and for any penalties in respect of taxes, on such
investment income or payments in the manner provided in Section 4(f).

f.                   
The Escrow Agent will be indemnified and held harmless by the Company and Underwriter from and against all expenses, including
all counsel fees and disbursements, or loss suffered by the Escrow Agent in connection with any action, suit or proceeding involving
any claim, or in connection with any claim or demand, which in any way, directly or indirectly, arises out of or relates to this
Agreement, the services of the Escrow Agent hereunder, except for claims relating to gross negligence or reckless misconduct by
the Escrow Agent or breach of this Agreement by the Escrow Agent, or the monies or other property held by it hereunder. Promptly,
but no later than 10 business days, after the receipt by the Escrow Agent of notice of any demand or claim or the commencement
of any action, suit or proceeding, the Escrow Agent shall, if a claim in respect thereof is to be made by the Escrow Agent against
the Company, notify the Company in writing, but the failure by the Escrow Agent to give such notice shall not relieve the Company
from any liability which the Company may have to the Escrow Agent hereunder, unless the failure of the Escrow Agent to give such
notice prejudices or otherwise impairs the Company’s ability to defend any demand, claim, action, suit or proceeding. Notwithstanding
any obligation to make payments and deliveries hereunder, the Escrow Agent may retain and hold for such time as it deems necessary
such amount of monies or property as it shall, from time to time, reasonably deem sufficient to indemnify itself for any such loss
or expense.

g.                  
For purposes hereof, the term “expense or loss” shall include all amounts paid or payable to satisfy any claim,
demand or liability, or in settlement of any claim, demand, action, suit or proceeding settled with the express written consent
of the Escrow Agent, and all costs and expenses, including, but not limited to, counsel fees and disbursements, paid or incurred
in investigating or defending against any such claim, demand, action, suit or proceeding.

5.                  
Indemnification by the Company and the Underwriter. The indemnification provisions subject to this Agreement are
set forth in Section 6 of the Underwriting Agreement dated [●], 2019 by and between the Company and the Underwriter, which
Section 6 shall be deemed to be a part of this Agreement.

6.                  
Termination of Agreement and Resignation of Escrow Agent.

a.                  
This Agreement shall terminate upon disbursement of all of the Escrowed Funds and Investment Gain Funds provided that the
rights of the Escrow Agent and the obligations of the Company and the Underwriter under Section 4 shall survive the termination
hereof.

    	4 

    	 

    

 

b.                  
The Escrow Agent may resign at any time and be discharged from its duties as Escrow Agent hereunder by giving the Company
and the Underwriter at least 15 business days’ written notice thereof (the “Notice Period”). As soon as
practicable after its resignation, the Escrow Agent shall, if it receives notice from the Company and the Underwriter within the
Notice Period, turn over to a successor escrow agent appointed by the Company and the Underwriter all Escrowed Funds and Investment
Gain Funds (less such amount as the Escrow Agent is entitled to continue to retain and hold in escrow pursuant to Section 4(f)
and to retain pursuant to Section 7) upon presentation of the document appointing the new escrow agent and its acceptance
thereof. If no new agent is so appointed within the Notice Period, the Escrow Agent shall return the Escrowed Funds and Investment
Gain Funds to the Company without interest or deduction.

7.                  
Form of Payments by Escrow Agent.

a.                  
Any payments of the Escrowed Funds by the Escrow Agent pursuant to the terms of this Agreement shall be made by wire transfer
of immediately available funds unless directed to be made by check by the Underwriter and/or Company, as applicable.

b.                  
All amounts referred to herein are expressed in United States Dollars and all payments by the Escrow Agent shall be made
in such dollars.

8.                  
Compensation. Escrow Agent shall be entitled to $12,500 as compensation for its services rendered under this Agreement,
which amount shall be delivered by the Company to an account designated by the Escrow Agent on the same date when the Escrowed
Funds are delivered into the Escrow Account and which shall be deemed earned in full upon payment.

9.                  
Notices. All notices, demands, consents, requests, instructions and other communications to be given or delivered
or permitted under or by reason of the provisions of this Agreement or in connection with the transactions contemplated hereby
shall be in writing and shall be deemed to be delivered and received by the intended recipient as follows: (i) if personally delivered,
on the business day of such delivery (as evidenced by the receipt of the personal delivery service), (ii) if mailed certified or
registered mail return receipt requested, on the business day of such delivery (as evidenced by the signed certified mail card),
(iii) if delivered by overnight courier (with all charges having been prepaid), on the business day of such delivery (as evidenced
by the receipt of the overnight courier service of recognized standing), (iv) if delivered by facsimile transmission, on the business
day of such delivery if sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time, on the next succeeding
business day (as evidenced by the printed confirmation of delivery generated by the sending party’s telecopier machine),
or (v) if delivered by email on the business day of such delivery (as evidenced by delivery confirmation). If any notice, demand,
consent, request, instruction or other communication cannot be delivered because of a changed address of which no notice was given
(in accordance with this Section 9), or the refusal to accept same, the notice, demand, consent, request, instruction or
other communication shall be deemed received on the second business day the notice is sent (as evidenced by a sworn affidavit of
the sender). All such notices, demands, consents, requests, instructions and other communications will be sent to addresses or
facsimile numbers as applicable set forth hereunder.

    	5 

    	 

    

 

If to the Company, to:

Blue Hat Interactive Entertainment Technology

Attention: Xiaodong Chen, Chief Executive
Officer

7th Floor, Building C,

No. 1010 Anling Road

Huli District, Xiamen

China 361009

Facsimile: 86-59-2228-0010

Email: sean@bluehatgroup.net

With a copy to (which shall
not constitute notice):

K&L Gates LLP

Attention: Clayton E. Parker. Esq.

Southeast Financial Center, Suite 3900

200 South Biscayne Boulevard

Miami, FL 33131

Facsimile: (305) 358-7095

Email: Clayton.Parker@klgates.com

If to the Underwriter, to:

ViewTrade Securities, Inc.

Attention: Doug K. Aguililla

7280 West Palmetto Park Road, Suite
310

Boca Raton, FL 33433

Facsimile: (561) 620-0302

Email: dougagui@viewtrade.com

With a copy to (which shall
not constitute notice):

Hunter Taubman Fischer & Li LLC

Attention: Louis Taubman, Esq.

1450 Broadway, 26th Floor

New York, New York 10018

Facsimile: (212) 202-6380

Email: ltaubman@htflawyers.com

If to the Escrow Agent, to:

Pearlman Law Group LLP

Attention: Charles Pearlman

200 South Andrews Avenue, Suite 901

Fort Lauderdale, FL 33301

Facsimile: (954) 755-2993

Email:charlie@pslawgroup.net

10.              
Further Assurances. From time to time on and after the date hereof, the Company and the Underwriter shall deliver
or cause to be delivered to the Escrow Agent such further documents and instruments and shall do and cause to be done such further
acts as the Escrow Agent shall reasonably request (it being understood that the Escrow Agent shall have no obligation to make any
such request) to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to
assure itself that it is protected in acting hereunder.

11.               Consent
to Service of Process. The Company, the Underwriter and the Escrow Agent hereby irrevocably consent to the jurisdiction
of the courts of the State of Florida and of any Federal court located in such state in connection with any action, suit or
proceedings arising out of or relating to this Agreement or any action taken or omitted hereunder, and waives
personal service of any summons, complaint or other process and agrees that the service thereof may be made by certified or
registered mail directed to it at the address listed hereto.

    	6 

    	 

    

 

12.              
Miscellaneous.

a.                  
This Agreement shall be construed without regard to any presumption or other rule requiring construction against the party
causing such instrument to be drafted. The terms “hereby,” “hereof,” “hereunder,” and any similar
terms, as used in this Agreement, refer to the Escrow Agreement in its entirety and not only to the particular portion of this
Agreement where the term is used. The word “person” shall mean any natural person, partnership, corporation, government
and any other form of business of legal entity. All words or terms used in this Agreement, regardless of the number or gender in
which they were used, shall be deemed to include any other number and any other gender as the context may require. This Agreement
shall not be admissible in evidence to construe the provisions of any prior agreement.

b.                  
This Agreement and the rights and obligations hereunder of the Company and the Underwriter may not be assigned without the
consent of the Escrow Agent, other than by laws of descent or operation of law. This Agreement and the rights and obligations hereunder
of the Escrow Agent may be assigned by the Escrow Agent, with the prior consent of the Company. This Agreement shall be binding
upon and inure to the benefit of each party’s respective successors, heirs and permitted assigns. No other person shall acquire
or have any rights under or by virtue of this Agreement. This Agreement may not be changed orally or modified, amended or supplemented
without an express written agreement executed by the Escrow Agent, the Company and the Underwriter, which consent shall not be
unreasonably withheld. This Agreement is intended to be for the sole benefit of the parties hereto and their respective successors,
heirs and permitted assigns, and none of the provisions of this Agreement are intended to be, nor shall they be construed to be,
for the benefit of any third person.

c.                  
This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of Florida. The representations
and warranties contained in this Agreement shall survive the execution and delivery hereof and any investigations made by any party.
The headings in this Agreement are for purposes of reference only and shall not limit or otherwise affect any of the terms thereof.

13.              
Execution of Counterparts. This Agreement may be executed in any number of counterparts, by facsimile or other form
of electronic transmission, each of which shall be deemed to be an original as of those whose signature appears thereon, and all
of which shall together constitute one and the same instrument. This Agreement shall become binding when one or more of the counterparts
hereof, individually or taken together, are signed by all parties hereto.

[SIGNATURE PAGE FOLLOWS]

    	7 

    	 

    

 

IN WITNESS WHEREOF, the parties
have executed and delivered this Agreement on the day and year first above written.

ESCROW AGENT:

PEARLMAN LAW GROUP LLP

By:__________________________

Name:

Title:

COMPANY:

BLUE HAT INTERACTIVE ENTERTAINMENT
TECHNOLOGY

By: ____________________________

Name: Xiaodong Chen

Title: Chief Executive Officer
and Director

UNDERWRITER:

VIEWTRADE SECURITIES, INC.

By: _____________________________

Name: Douglas K. Aguililla

Title: Director, Investment Banking

    	8 

    	 

    

 

Schedule A

ACCOUNT NAME:

ACCOUNT NO.:

ABA ROUTING NO.:

SWIFT CODE:

BANK:

REFERENCE: ATTN:

TO BE WIRED IN U.S. DOLLARS

    	9

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