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Info: Mindark IPO 2023-01-27

AxeMurderer said:
If Elon Musk learn about this he is buying half the shares and will ban all the bots.
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Also there won't be any more beer shipments for Caly. Oh wait... :rofl:
 
GradenFoss said:
MindArk PE AB approved for listing on Spotlight Stock Market
Wed, Jan 11, 2023 17:10 CET

MindArk PE AB (publ) (the "Company" or "MindArk") is a Swedish digital entertainment company that has developed and operated the game Entropia Universe since 2003 - according to the Company the world's first MMORPG (Massive Multiplayer Online Role-playing Game) with a Real-Cash-Economy.

Since its inception in 2003, the company has been developing Entropia Universe, a virtual universe where users can create their personal avatars and operate in a science-fiction-inspired environment. Entropia Universe was developed by MindArk to allow people to engage in social and economic interactions beyond what is possible in the real world.

Entropia Universe consists of a digital economy called "Real-Cash-Economy" (RCE) where commodities, materials, land and buildings are represented as digital assets that all have a computed base value.

Entropia Universe is the only online world with a functioning money system that is not linked to a blockchain, the currency in Entropia Universe has a fixed exchange rate against the USD. The Entropia Universe economy and its link to the USD is proven and has built up a strong and important trust capital over its 20 years of being in full operation.

As of January 1, 2023, MindArk has 61 employees. In the period Jan-Oct 2022, MindArk had sales of approximately SEK 71.7 million and an operating profit of approximately SEK 15.2 million, corresponding to an operating margin of 21%. MindArk has been operating and developing Entropia Universe for 20 years and the Company is today well equipped to maintain, and develop its market position to advance further and take additional market share in a growing market.

Henrik Nel Jerkrot, CEO of MindArk PE AB, comments

"The listing on the Spotlight Stock Market is an important milestone for MindArk. For two decades MindArk has developed and operated a virtual universe that has entertained users worldwide, enriched virtual entrepreneurs and even made it into the Guinness Book of World Records. Above all, we have proven that you can turn a virtual universe into a profitable and successful business"

The offer

The company will not offer any new or old shares for sale but will conduct a so-called direct listing of existing shares. A subscription price has therefore not been set.

Listing on the Spotlight Stock Market
MindArk PE AB has been approved for listing on the Spotlight Stock Market.

Information about the share

Short name: MNDRK
ISIN of the share: SE0019354358
First day of trading: tentative first day of trading is 27 January 2023.
Company website: www.mindark.com

The company's memorandum will shortly be available at www.spotlightstockmarket.com.

For more information, please contact:

Carl-Henrik Nordberg
Head of Listings, Spotlight Stock Market
+46 8 511 68 008
listings@spotlightstockmarket.com

Translated with www.DeepL.com/Translator (free version)
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What is the difference between an old share and an existing share? Are they not the same thing in this context?
 
jetsina said:
Couple of points: it's only a listing, with no new shares for now, so volumes may be extremely low, but it's a step towards seeking new capital more broadly.

UE5 is slated for a 2025 release here, as an 'expectation'. We still have a few mobbies to kill in what we currently have then ...

Those share tokens for 1% we'll be getting as of 'soon' won't be paying out for a while, so maybe the ped value of traded tokens will be lower than I thought in the other thread where I was hoping for 2023...
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Tokens are not tradeable until unreal
 
My goodness! Please don't make such bland incorrect comments, as it diminishes some of the good opinions you have.
The tokens are to be tradeable, but the timing in 2023 is somewhat open. It is unclear exactly how many will have dropped by the time of their tradability. The tokens will not be convertible, nor will they start paying out, until unreal...
The discussion, incl. MA input, is out there...
 
DrGirlfriend said:
Tokens are not tradeable until unreal
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That's blatantly false. Why say something incorrect when this has been answered MULTIPLE times by people within the company

Entropia Unreal Tokens can be looted from all creatures in the Merry Mayhem event instances. After the launch of Entropia Universe Unreal, the tokens can be converted to Entropia Unreal Shares on the Entropia Exchange. The Entropia Unreal Tokens will be tradable from early 2023.

I just don't fucking get it bro.
 
Angela Draniie Cloud said:
That's blatantly false. Why say something incorrect when this has been answered MULTIPLE times by people within the company

Entropia Unreal Tokens can be looted from all creatures in the Merry Mayhem event instances. After the launch of Entropia Universe Unreal, the tokens can be converted to Entropia Unreal Shares on the Entropia Exchange. The Entropia Unreal Tokens will be tradable from early 2023.

I just don't fucking get it bro.
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Just watch, with unreal officially coming out in 2025 these won’t be tradeable until at least 2025 when unreal is out or shortly before.

When that quote was made unreal was expected to release near beginning of 2023… bro
 
jetsina said:
My goodness! Please don't make such bland incorrect comments, as it diminishes some of the good opinions you have.
The tokens are to be tradeable, but the timing in 2023 is somewhat open. It is unclear exactly how many will have dropped by the time of their tradability. The tokens will not be convertible, nor will they start paying out, until unreal...
The discussion, incl. MA input, is out there...
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Just because you don’t like it doesn’t mean it’s incorrect.
 
So, are you stating a fact stated officially somewhere, or your opinion contrary to what MA has even gone so far as to clarify?

I can agree with you that the timeline from this sidenote in a PR piece about the actual shares in MA may change other planned timings, but that would have to be stated before your 'opinion' becomes a substantiated fact (or intention). And it's got nothing to do with liking something or not, but the statement by MA also shows the intention to have token tradability before convertability and not just shortly before either. The release planning as of the quote time was not 'near beginning of 2023… bro', but there were hopes that the moon would be available in some form for testing, I think, in mid-2023. That is not the same as a release...
 
so no Mindbank, Deep Token, etc. involved?
 
Angela Draniie Cloud said:
Baby girl, THEY NEVER said they expected UE5 to drop in 2023.
You’re starting to turn into rookie chat/Kanye West.

Not a good look boo
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Oops mixed it up with the TWEN in my memory your right

I’m still strongly in the opinion that unreal tokens will not be tradeable until unreal is released, however.
 
Pete Longmorn said:
Interview with Mindark CEO Henrik Nel Jerkrot regarding the IPO. Interviewed by Finwire in swedish.

- No capital will be raised in the IPO
- Unreal Engine 5 release planned for H1-25


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any volunteers to translate?
 
At 3.26 those scenes with wild landscape look amazing!
 
Sulje said:
any volunteers to translate?
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If noone else does I'll transcribe and translate it this evening.

In short, he explains what Mindark is, what Entropia is, how Mindark makes money, a little bit about the partnership with Epic and the reasoning behind it, a bit about the IPO and why investors should be interested.

There is no real new info in there other than the h1 2025 release plan, but it will be nice to have, once again, another source explaining how MA makes money, because this is still, for some reason, a mystery to many users.
 
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Ferial said:
than the h1 2025 release plan,
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Is that first half of 2025? Just confirming as I'm used to seeing Q1,Q2,Q3,Q4(First quarter of the year, etc.) When talking about release times.
 
Angela Draniie Cloud said:
Is that first half of 2025? Just confirming as I'm used to seeing Q1,Q2,Q3,Q4(First quarter of the year, etc.) When talking about release times.
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That is correct. H1/H2, not h1, is used (at least in Sweden, not sure about elsewhere) to describe either the first or second half of the (usually fiscal) year.

In the video, he says "first half of 2025". I used the qbreviation because it was used previously in this discussion
 
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Ferial said:
If noone else does I'll transcribe and translate it this evening.

In short, he explains what Mindark is, what Entropia is, how Mindark makes money, a little bit about the partnership with Epic and the reasoning behind it, a bit about the IPO and why investors should be interested.

There is no real new info in there other than the h1 2025 release plan, but it will be nice to have, once again, another source explaining how MA makes money, because this is still, for some reason, a mystery to many users.
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I understand the time it will take for you to do this if you decide to translate for us. I want to thank you ahead of time for your efforts!

Their office looks really nice and I am jealous that someone gets to have their dog at their cubicle!
 
So I went to the trouble of automatically transcribing the video (in Swedish) and then using an automated translation. Please excuse the accuracy - it's kinda rubbish. I've tried to make corrections here and there. Attached is a read-only link to the transcription in English. Let me know if this works.

 
This actually intrigues me. If enough players bought enough shares, and were willing to designate their votes to a proxy that could represent player wishes, it might give us a bit more say in how things are done.

Assuming these are voting shares.
 
Ok bank has access to this market, now I just gotta source the cash
 
I: I´m sitting here with the CEO of MindArk, Henrik Nel Jerkrot. Thank you for having us

H: You´re very welcome

I: Can you start by talking a little bit about yourself, and MindArk, and what it is you do?

H: Absolutely. I started working for MindArk in 2016. Before that I studied Industrial Economics at Chalmers.
In December 2017 I took over as CEO for MindArk.

MindArk, we are the creators of the virtual universe Entropia Universe. MindArk also holds the Guiness World Record for the most expensive virtual item. It was a planet that was sold for $6 Million in 2010. MindArk has its office by Järntorget in Gothenburg and we are 61 employees.

I: For those of us who don´t know. Can you tell us a little bit about Entropia Universe?

H: Entropia Universe is our Virtual Universe. It is quite synonymous with a Metaverse. We can also describe it as a Sci-Fi MMORPG, so a game.

The story is that things have gone really poorly for humanity on earth, so instead we escape and colonize different planets.

In actuality, what we provide to our end-users is entertainment. What we have in Entropia Universe is an in-game economy. That in-game economy is connected to real money. It is a currency, called PED. PED has a fixed exchange rate to USD.

What this means is that our users, with the tools provided in the universe, are actually able to make money by being creative, by being entrepreneurs, by providing services to other users. This is something that very few other actors actually do. Our users can also withdraw their money to their real bank accounts provided that they pass the internal checks made. To give a feel for the size of the in-game economy; It has a GDP of $400 Million yearly. It´s approximately the same as an island nation.

I: Can you describe your revenue model?

H: We have a small part that is from direct sales but the majority of our revenue comes from consumption and wear and tear. Inside Entropia Universe there is an incredible amount of items that have real value, a monetary value. Before anything has been worn down, or consumed by our users, no revenue for MindArk has been generated.

As an example, vitamin pills. Just like in real world, they exist inside Entropia Universe and they have a price/value. Before this pill is consumed, no revenue for MindArk has been generated. The reason why our users would want to do that, is that it makes you run faster inside Entropia Universe, for example.

The other example, with wear and tear. We can take a sword. Our users can have a sword because they want to run around and hit monsters, or fight other users. A sword, when it is new, has a certain value. Just like in real world, when the sword is used, it gets worn down. The depreciation in value that occurs when the item is worn down also becomes a source of revenue for MindArk.

We have unique monetisation model.

I: If we look forward, what does the future hold?

H: We are currently in the process of changing game engine. Right now we´re on a game engine called CryEngine 2. A game engine is what we use to create content within our game.

In 2021 we entered a deal with Epic Games. They are behind Unreal Engine 5 which is state-of-the-art on the market for game engines. We are doing this, primarily because the lead time from idea to end-user is reduced immensely

But essentially we want to take Entropia Universe to the next level. We have existed for 20 years. We see that we have an economic system that is fantastic but we want to be able to provide a better experience to our users. We will be able to do that with Unreal Engine 5

A better experience will lead to better customer conversion. A better customer conversion will lead to higher revenue for us.

What I was meant to say as well; The planned release for this is the first half of 2025.

I: You mentioned Epic Games there, do you have any other partners at the moment?

H: We have something that we call Planet Partners. Planet Partners is what we call other small game studios. We have 5 planet partners today and they are located in different parts of the world.
What they do, is they control the content of the planet. What the theme should be, how should it look, what kind of monsters should there be, what kind of missions should there be?
What MindArk provides is access to the platform, the economic system and the technicques.

Our Planet Partners also have an interest in marketing, not only to current users, but also to new customers. They can create a niche for a certain target group, also depending on the theme they have.

I: You intend to perform a direct listing on January 27. The market has been shaky lately, to say the least. What is the reason you want to do this now?

H: We have a lot of shareholders that have been with us since the beginning, 2003. It has been their ambition for a long time to list. This is a direct listing, we are not taking in any capital at this time. But naturally if we some time in the future wish to do so, then the market is there. It is also a quality stamp for us. Today MindArk is completely funded through own capital.

I: Why should investors take a closer look at MindArk?

H: MindArk is not a startup. We have existed for 20 years. We have Entropia Universe with a proven model that works.A completely amazing financial system, with $400 Million GDP, in game. We want to deliver this product, give a better experience to our users. We will do this, with Unreal Engine 5

Furthermore, we are not taking in any capital. We are self-funded so all our costs are taken care of by us.

Finally, we also have a very clear plan about what we want to achieve in the coming years.

I: Thank you very much for taking the time to meet with us Henrik and good luck with the listing.

H: Thank you very much.
 
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David Joker Potanus said:
I understand the time it will take for you to do this if you decide to translate for us. I want to thank you ahead of time for your efforts!

Their office looks really nice and I am jealous that someone gets to have their dog at their cubicle!
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Not so much about the time it takes to do it, more so about having the time to sit down in a focused state for long enough.

Also, do note that this was done rather hastily, and I am not very familiar with financial terms in English so if something doesn´t make sense or is off, please do let me know and we´ll see if we can work it out.
 
I was wondering how they would sell shares and not make any revenue for the company, makes sense now that I know it’s all personal shares from shareholders being sold.

exact same explanation of the revenue model as that old e3 video btw if anyone remembers that and can find it, that’s basically a perfect English version of what he explained here.
 
DrGirlfriend said:
makes sense now that I know it’s all personal shares from shareholders being sold.
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Just to clarify, no shares are necessarily being sold; it's a listing (which may technically make the acronym IPO wrong - it's now going to be available to the Public, but there is no set Offering! But that's only in the thread title as far as I can see.) A listing just makes it a whole lot easier for those rather long-term holders of the shares to sell if they wish, but volumes may be very low. I guess it depends on what initial pricings make them worth and whether or not anybody wants to free up some of the value and diversify their capital with the opportunity now presented. Does anyone have any experience of the Spotlight Stock Market and typical volumes of companies listed there?
(Yes, it's shareholders' shares, so no new capital for MA, but also no watering down for existing shareholders. That said, I don't know the breakdown of ownership, but larger shareholders 'close to' or actually 'at' MA may have decided to sell chunks within a reasonable period to create some kind of "free float")
 
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in ancient days there used to be a list of shareholders somewhere. I'm sure it's outdated by now.
 
Spotlight Stock Market has an english version of their website, very easy to find if you look at the url given above:

https://spotlightstockmarket.com/en

If I understand it correctly, it is somewhat an equivalent of the OTC (over the counter) market where all those stocks are traded that are too small or for whatever reasons of their own opted not to "run with the big dogs". Getting listed on the main stock markets costs millions and not every case justifies that.
 
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