Pokemon Go sky rocketing Nintendo share prices

Unless you have been living under a rock, it would have been impossible to not notice that Pokemon Go has taken Australia by storm.
Launched last week, Pokemon Go is a mobile game which has reinvented the popular 90’s cult franchise Pokemon. The game uses GPS to track players and through their smartphone cameras, incorporates the game’s monsters into the player’s surroundings.
The game has been an instant hit, with the app currently topping several charts on Apple’s App Store. Nintendo shares are up 60% in the past three days since Pokemon Go was launched on the 7th of July – illustrating the power of pop culture!
Nintendo has enjoyed a whopping AUD$12bn increase in market value. It should give a new lease of life to the conservative Kyoto-based firm, which had long steered clear of smartphone gaming.
The app is free to download and is estimated to have been downloaded 7.5bn times in the US alone. The lucrative value of the app is seen in its in-app purchases, which occurs when a player is tempted to buy more useful items within the game.
Excuse the pun, but Pokemon Go is literally ‘changing the game’ when it comes to mobile apps. We can’t wait to see how more apps like this push boundaries and sail into uncharted territory.