Letter from MindArk's CEO, Q2 2023
Dear valued shareholders,
We know a lot of you want to get continuous updates about MindArk and Entropia Universe, and while we are publishing relevant press releases to the market, we at MindArk have decided that I will also release CEO updates to the market once per quarter. The ambition is to increase our communication with the market and keep all of you updated on the company's progress. Our main focus is always to keep developing Entropia Universe and use our resources accordingly, all to deliver value to our shareholders and users.
As we are well into the second quarter of the year, I'd like to provide you with an update on the current work at MindArk. I am delighted to share that we have made significant strides in the development of Entropia Universe Unreal and have now moved from pre-production to the production stage. In short, the pre-production phase meant we’ve set the foundation for the Entropia Universe in Unreal Engine 5. We’ve established pipelines, developed tools, designed technical systems, and laid the groundwork for effective development. Entering the production stage means that the core gameplay mechanics that were designed and approved during the pre-production phase will be implemented at a production level of quality. It also means that the world players will experience is being built according to the rules and tools set in the previous phase. Furthermore, in the production stage, time will be spent creating the various assets needed, including 3D models such as avatars/characters, creatures, user interface, and vegetation. We will continuously through this production phase implement all parts for a complete gameplay loop and systems to enable a stable environment with automated tests to ensure the product has as high quality as possible. While a lot of development is focused on Entropia Universe Unreal, we are also making sure that the current live Entropia Universe gets all the love and care it needs in order to keep delivering value and entertainment for our users today.
Stepping away from Entropia Universe and instead focusing on MindArk, it is now almost three months since we were listed on Spotlight Stock Market. After becoming accustomed to being in a listed environment, we have sourced various initiatives for improving our visibility toward the market and we are now taking important steps to increase the market’s knowledge and understanding of MindArk. This week, the analyst firm Kalqyl announced that they have begun covering MindArk and will soon issue their initial analysis. Furthermore, our ambition is to increase our presence in the physical room. In March 2023, MindArk attended the 2023 Game Developers Conference in San Francisco. Looking ahead, we plan to participate in events and meet-ups for both gaming and investor communities. Overall, we are steadfast in our commitment to generating greater awareness about MindArk and Entropia Universe.
Our management team is also consistently evaluating new opportunities for growth and is always looking for ways to improve our company's performance. One example is the global roll-out of Artificial Intelligence, introducing innovative and revolutionary tools to the tech industry on a near daily basis. MindArk is committed to increasing AI-integration in different departments of the company which is going to increase productivity, and with time decrease costs for development.
We are confident that Entropia Universe Unreal will be a game-changer for our company, and we are doing everything we can to ensure its success. Thank you for taking the time to read this letter and until next time, I wish you all the best!
Best regards,
Henrik Nel Jerkrot, CEO
