[ANN] MindArk announces ERC20 token sale to fund the world's first digital IP Exchange

DeepToken

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Jan 14, 2018
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Token Generation Event is now LIVE! https://deeptoken.io

ABOUT MINDARK

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 PROBLEM

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 commercialize 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.


TOKEN SALE

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%



White Paper



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 on skilled technical, business, and financial expertise from around the world. As the company has grown, MindArk has extended its knowledge and skill set through a unique set of advisors and partners, many of whom are fundamental to the launch of the DeepToken token 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 Nel Jerkrot
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 Simmonds
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 Eriksson
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
theory.

Gunilla Krogh
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.

Token Generation Event is now LIVE! https://deeptoken.io/
 

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