Peking University Resources Entered into an MOU with Nibiru
Embarking on the First Step to Exploit Metaverse Platform
HONG KONG SAR - Media OutReach - 18 October 2022 - Peking University Resources (Holdings) Company Limited (the "Company", together with its subsidiaries, the "Group"; stock code: 618.HK), is pleased to announce that on 14 October 2022, the Company entered into a memorandum of understanding with The Nibiru Global Limited ("Nibiru") (the "MOU").Pursuant to the MOU, the Company aims to invest into Nibiru with an amount up to US$2 million in relation to developing and constructing a blockchain-based metaverse with digital identities as an interface for users to experience the virtual world of properties.
Pioneering Real Estate Developer to Explore Metaverse
Under the MOU, the Company aims to capitalise on the open-world metaverse platform developed by Nibiru and develop real estates in the web 3.0 environment, which will be a fusion of reality and virtuality. The Company is in a prime position to explore real estate development in the metaverse platform where traditional competitors are not present in the same space. By drawing on its expertise in architectural design, land development and materials usage, the Company will be able to deliver high quality residential buildings and commercial superstructures on the metaverse platform.
Ushering in a Positive Prospect through Engagement with Users
The 1:1 ratio real estate design and development on the metaverse platform will enable the Company to approach the overall design and development of real estates from new angles and allow AI assessment of the user's reaction and impression towards the real estate projects, which will assist the Company to optimise its real estate designs and control ineffective costs to be incurred in developing real-life real estate projects. From the perspectives of the users, the metaverse platform may facilitate their participation in the design and development of architectural structures in an immersive manner, which will encourage the conversion of their purchasing and participating interest on the metaverse platform to the real world.
Mr. Wong Kai Ho, Chairman of Peking University Resources (Holdings) Company Limited, said, "We are thrilled to have established strategic partnership with Nibiru and to expand our footprint to metaverse. Leveraging on our years of real estate development and planning experience, combined with the metaverse building technology provided by Nibiru, we are confident that the potential business cooperation with Nibiru will help improve, expand and promote the Company's existing real estate business, and enhance its profitability and bring more considerable returns to the Shareholders."
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About Peking University Resources (Holdings) Company Limited
Peking University Resources (Holdings) Co., Ltd. (stock code: 618.HK) was founded in Beijing. Relying on the company's profound cultural heritage and excellent resource integration and operational advantages, it was listed on the main board of the Hong Kong Stock Exchange in 1991. The Group is mainly engaged in real estate development and investment, commercial real estate operation and high-end ICT services. It integrates culture, technology, wisdom and ecological concepts into urban planning and construction, creating high-quality products and services full of humanistic care, and conserving life scenes with cultural atmosphere in order to create a better future for Chinese families. For more details about the Company, please visit the Company's official website: www.pku-resources.com.
About The Nibiru Global Limited
Nibiru is a limited company incorporated in Hong Kong and is principally engaged in metaverse projects. Nibiru's ambition is to build a one-of-a-kind open-world metaverse platform which connects web 2.0 individuals, brands and institutions, on the one hand, with the web 3.0 environment, on the other hand. Citizens of the metaverse platform will have access to a world map divided in 4 zones with 13 regions, divided into 180,000 unique land plots which will be represented by their respective one-of-a-kind NFT collections.
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