MindArk was founded in 1999 with the virtual reality called Project Entropia. In January 2003, Project Entropia was publically launched and already in 2004 MindArk reached breakeven.

In order to strengthen the trademark as an established player on the global market, the name on the virtual environment was changed to Entropia Universe in April 2006.

In 2008, MindArk licensed a new 3D-graphics engine from Crytek GmbH in Germany and began to integrate the software into Entropia Universe. Simultaneously, MindArk's Board of Directors decided to focus increasingly on the company's activities toward providing a platform for partners who want to establish planets within Entropia Universe.

In 2010 the first planet from an independent studio was launched. For further reading about becoming a Planet Partner, see Planet Partner Concept.