MindArk PE AB (MindArk) is an independent software company dedicated to establishing the 3D internet: a convergence of online games, virtual worlds and 3D social networks. Based in Gothenburg, Sweden, the company is best known for having created the world’s first free to play massively multiplayer online role-playing game (MMORPG) with a real-cash economy, Entropia Universe.
Founded in 1999, MindArk has constantly endeavoured to push the boundaries within the virtual environment, positioning itself at the forefront of what is possible in the market. Over the past decade, MindArk has developed its core business product – the Entropia Universe – in parallel to working towards its longer-term vision of deploying and operating an ecosystem that includes an IPX and a real-world bank.
MindArk has also worked with NASA, The European Space Agency and the Government of Sweden on DeepTech initiatives including the creation of VR meeting platforms and simulated space games for astronauts to use.
The global intellectual property market is worth an estimated $180 billion USD, and yet only 2% of the 2.1 million patents filed each year gain commercial success. Unfortunately, there are significant barriers to entry for those who wish to commercialise assets or license new assets to avoid rework. Within the Entropia Universe alone, there exists over 70,000 reusable digital assets, representing between $25-30 million in development costs. However, there is currently little ability to make these assets available to others as there is no central location for their exchange.
THE IPX SOLUTION
The IPX is a revolutionary open cross-platform digital exchange that connects owners of digital assets and IP with those seeking to access and license those assets. It will be the first ever repository of digital assets and intellectual property backed by blockchain technology. The blockchain will ensure that the exchange of IP is fast and transparent and due to its immutable nature, fraud and theft will be virtually impossible over the exchange. Initially the platform will allow developers to monetize digital assets created for Entropia Universe and other gaming environments. However, the IPX will be open to the global market and will serve equally for non-gaming companies and developers who will find value in the digital assets the IPX provides, such as blueprints for 3D printing or virtual
reality employee training programs.
Developers will send assets they wish to share on the IPX to MindArk; assuming they pass quality control procedures, the creator will pay a small fee in DeepToken and in turn the asset will be listed on the IPX. The asset will then be available for licensing, with fees payable in DeepToken.
MindArk is raising capital to fund and operationalise the next phases of its development through a token sale or Token Generation Event. The token sale will take place in March 2018 via https://deeptoken.io/ 125 million tokens will be generated at the start of the sale, with 100 million tokens available for purchase at a rate of up to 1 token to $1.0 USD. The remaining 25 million will be allocated to MindArk as a capital buffer. MindArk’s tokens are called DeepTokens, or DTA. DeepTokens are single utility tokens that will act as the mechanism for transacting between buyer and seller on MindArk’s
Intellectual Property Exchange (IPX), and they will record the agreement made between the two parties as a publicly available smart contract.
On completion of the token sale, the proceeds will be allocated as follows:
● Development of the IPX including the Entropia Universe development 50%
● Marketing and PR 25%
● Business development (B2B) 5%
● Legal and regulatory 5%
● Token offering costs (advisors and enablers) 10%
● Contingency fund 5%
THE FUTURE OF MINDARK
Following the successful token sale, and development and implementation of the IPX, MindArk’s next phase will involve the creation of the MindArk Bank, a financial services institution fully licensed by the Swedish banking authorities (the Finansinspektionen); and the first bank in the world to hold its capital base in cryptotokens. It will also see the establishment of the Accelerator Funding Program which will both fund and coach developers to maximize the value they create for themselves, the Entropia Universe and the IPX.
ABOUT ENTROPIA UNIVERSE
Entropia Universe is the world’s first free to play massively multiplayer online role-playing-game (MMORPG) with a real-cash economy, with over three million registered accounts. Entropia Universe offers players the ability to participate in a unique virtual world in which the they collect and earn virtual currency – ‘Project Entropia Dollars’ (PED) – through in-game activities. Introduced to the game in 2003, this virtual currency has a fixed exchange-rate with the US dollar of 10:1, which allows players to convert to and from fiat currencies(i.e. any currency that is legal tender whose value is backed by the government that issued it), held in their real-world bank accounts. Within the Entropia Universe, over 33 million micro-transactions take place every day, resulting in a Gross Universe Product of over $400 million USD – larger than seven real-world sovereign nations.
Entropia Universe represents a digital economy in which commodities and capabilities are introduced as digital assets into the game, which players then use to navigate the virtual universe. MindArk places a value on any item introduced into, or created within, the game.In addition, there is an active secondary market for items in the game, with prices set by the players involved in the transaction.
ABOUT THE TEAM
Over the past two decades, MindArk has cemented its position as a company built onskilled technical, business, and financial expertise from around the world. As the companyhas grown, MindArk has extended its knowledge and skillset through a unique set ofadvisors and partners, many of whom are fundamental to the launch of the DeepTokentoken sale, and the development of the MindArk business plan.
Jan Welter Timkrans
Jan is the creator of Entropia Universe, the Founder of MindArk PE AB, and Chairman of the Board. He has more than 40 years of experience in executive leadership positions.
Henrik is the Chief Executive Officer of MindArk. Having studied the Management and Economics of Innovation at Chalmers University of Technology in Gothenburg, Sweden, he was an early adopter of crypto. A passionate gamer, Henrik has been with MindArk since 2016.
David has been at MindArk since 2005 and worked across the business. Chief Executive Officer of MindArk between 2011-2014, David is now Vice Chairman of the Board and Head of Business Development. David has 15 years’ experience working in virtual reality environments with virtual currencies.
Magnus is Chief Operations Officer at MindArk. With over 18 years’ experience developing computer games, backed up by an MSc in Computer Science, he is MindArk’s specialist in game system design and balancing, as well as virtual economy
Gunilla is Chief Financial Officer at MindArk. She has been at MindArk since 2007, overseeing KYC/AML processes in the business and has over 25 years of experience in accounting and finance.
Klas is a determined and results-focused industry leader, with 20 years of progressive leadership experience in global enterprise environments including Ericsson, Sweden's world-leading telecommunications corporation. Former CEO of MindArk (2014 – 2017) Klas had been with MindArk since 2012 where he was Technical Director. Prior to this he was at Ericsson from 1995, during which time he covered a number of positions including Development Engineer and manager, Head of WiMax Radio Base Station, Acting Head of PDU Packet Core and Head of Business Unit CoordCom at NSPS. Now his expertise lies in steering large scale, highly visible business units, in addition to building and developing technology-centered companies. Klas remains committed to the vision and mission and MindArk serving as one of its core advisors.
Oliver is founder and CEO of the Anglo-Swedish Chainvine and has spent many years working internationally in the Financial Technology sector. With a very good understanding of the Nordic and UK markets, he also has valuable experience in the US, Chinese and Russian markets. With a focus on the economic benefits of full and incremental decentralization, Oliver has a strong interest in developing current and future decentralized technology, especially in the areas of property rights, governance both corporate and public. He is a regular speaker at events around the world, specializing on blockchain and the digitization of process, including the certification process, supply chain logistics, Internet of Things and financing / trading activities. Oliver is also one of the lead advisors to MindArk and has been working with the team since 2017.
Dr Jerome Rousselot is the founder of Jita, an advisory services business helping startups and companies to define their strategy, build their team, review their technology roadmap and improve their security practices. Jerome has been active in blockchain for four years as Chief Revenue Officer for Mycelium, one of the best rated Digital Wallets in the Google App Store. Jerome is also a public speaker, impact investor and organizes international workshops. Jerome obtained his PhD at EPFL, Switzerland. Jerome has been advising MindArk since 2017 on its introduction of blockchain technology, formation of the IPX and the DeepToken token sale.
Lawrence Wintermeyer is a globally recognized digital financial advocate, advisor, and investment manager. Based in London, he is the principal of Capstone, an advisory and investment firm focused on digital disruption in business, consumer and government sectors, in a career spanning more than 25 years in financial services, TMT, and energy. He is the former CEO of Innovation Finance, the independent not-for-profit fintech members association, which supported the UK ecosystem in developing the premier fintech hub in the world. Lawrence has worked in the venture capital and private equity markets and has experience owning, running and advising investment managers and technology start-ups. He sits on a number of commercial, charity, and NGO boards, panels and working groups, often in a pro bono capacity, to promote progressive policies for a transparent, secure and quality digital future for everyone. Lawrence has been advising MindArk since 2017.
With over fifteen years of business development experience, as both a manager and owner of various enterprises, Shaun has built a strong network internationally in which he expands his endeavours. His current enterprises include teams and partners on every continent that work efficiently together to accomplish the tasks they are set to. Unconventional yet effective in his methods, he has succeeded in many niche markets where others have failed. Additionally he is the founder and acting director of one of the largest business entities within the Entropia Universe. As an active participant in Entropia for nearly a decade, he brings a unique and well suited perspective for implementation of the IPX and the DeepToken offering.
Hans is a seasoned financial services professional, with fifteen years’ experience with the Swedish bank Handelsbanken. He will work as advisor to the new bank’s management team, bringing his wealth of experience to bear during the operationalization of the business.
Jens has a rich management background with more than 20 years of experience in the Online and Mobile Payments industry. A seasoned commercial leader, Jens recently co-founded MIR Limited, an FCA-licensed FINTECH group that develops and operates second-generation electronic money services servicing on- and offline merchants. As Chief Commercial Officer of MIR he designs and oversees the commercial strategy of the Group. Previously he was Chief Commercial Officer of Secure Trading Group, a leading European Payment Service Provider and Card Acquirer. At Secure Trading Jens managed the Groupǯs revenue generation and retention. In his prior role as CCO of paysafecard he led the global Account and Sales Management Teams overseeing and managing all commercial merchant relationships. Before joining Paysafecard in 2010, Jens was holding various roles in the payments industry with blue-chip financial institutions as well as payment start-ups. Jens is a frequent speaker on payments and fraud-related topics worldwide.Jens holds a degree in International Business Management. A specialist in supporting accelerator companies where specialist knowledge in payment provision is required, Jens is an advisor to MindArk in the development of its business payments systems