If you haven't heard about Pokemon GO yet now may be the time to wander back underneath your rock as not only is Niantic's Pocket Monster themed app dominating the Android and IOS App markets, it is also helping itself to the lion's share of the global market for in-app purchases claiming a whopping 47% of the market in a single day on July 10th.
In layman's terms, Pokemon GO made more in a single day than all the other mobile apps combined. This is impressive enough in itself but the news doesn't stop there as the app is also reported to be introducing first-time mobile gaming spenders to the market. Unbelievably, less than 53% of users who spent money on Pokemon GO had made one or no mobile game purchases in the last six months.
As it stands, the most popular in-game purchase has been the 100 Poke Coin bundle (the in-game currency for purchasing items). Approximately 37% of all purchases were the 100 Coin bundle but the app has actually profited most from the five dollar (£7.99 in the UK) 1,200 Coin bundle.
In total, it is estimated Pokemon GO has already made $14 million, far outperforming developers Niantic's previous effort: Ingress. Ingress played a big part in the design of Pokemon GO as it relies on the same mapping software and the previously mapped out ‘energy points' are also now the in-game PokeStops where players refill their inventories.
Nintendo's company shares have also risen an incredible 86% in Tokyo as a byproduct of Pokemon GO's success. In financial terms, this translates to an unprecedented $17 billion increase of market capitalisation.
The company have desperately needed a win since falling behind console rivals Sony and Microsoft and the venture into the mobile gaming market has paid off more than could've been predicted. People in the United Kingdom were recklessly abusing their devices to confuse them into thinking they resided in America or Oceania to access the app early - there hasn't be such madness since Microsoft first introduced Xbox Live to the gaming market.
It was a definite risk to allow a third party to develop the app on Nintendo's behalf, the Nintendo logo features only for trademarking purposes, but it has certainly paid off for the Japanese gaming giants. The incredible rise in market stock will stand Nintendo in excellent stead as the world awaits details on its next console: the Nintendo NX and could see them retake their crown as the king of games.
Granted, Pokemon GO isn't for everyone so if you're looking for alternative games such as free casino games, offline gaming or apps without in-game purchases we can point you in the right direction.