Do you have too much money with nothing to spend it on? Oh good, in that case, close this browser tab and go set up a scholarship program or cure cancer or do literally anything helpful to the present and future of humanity. Everybody else, keep gawking because apparently Sweden’s MindArk, the company behind real-world-currency-based MMO Entropia Universe, has dreamed up a new scheme to fund a “a digital assets ecosystem” in the form of what it’s calling “the world’s first Intellectual Property Exchange (IPX).” Oh, and the cryptocurrency will also fund development of the MMO.
“MindArk’s IPX will enable a digital assets ecosystem, providing an environment for the exchange of intellectual property for and amongst business developers, institutions, token holders and platform users. As an open, cross-platform digital exchange, the IPX will support the development of a market where all developers can easily and effectively monetize their work.”
MindArk will be selling 125,000,000 “deep tokens” at a buck apiece to folks who want to buy in. “100 million of these will be available to investors, with MindArk retaining 25 million tokens as a capital buffer. DeepTokens will be the currency of the IPX, facilitating all transactions between buyer and seller through the use of smart contracts,” says MindArk. “The use of DeepToken will create an immutable record of every transaction, bringing an unparalleled level of transparency, traceability and security to the intellectual property market.”
Admittedly, this sounds bizarre, but we’re talking about the Entropia Universe company here, and currency brokering is literally what they do with the game. Once the tokens are sold, the company will form a formal bank in Sweden, “the first bank in the world to hold its capital base in cryptotokens.”
