Games

Pokemon Go Developer Niantic is now worth $ 9 billion

Video games are a big business now. The industry will generate $ 82 billion in revenue from hardware sales alone in 2021, and the new report predicts that number will grow to $ 135 billion by 2026. What makes the already immeasurable numbers even more impressive is that they don’t even include mobile games. An industry branch that has the potential to generate more revenue than any other industry.

If you don’t believe us, perhaps the revelation that Niantic is now worth more than $ 9 billion may convince you. A $ 300 million investment from Coatue has pushed Niantic to its incredible milestone. This funding is intended to help build a real-world metaverse. It’s clearly very different from the Metaverse that Mark Zuckerberg is trying to get us all involved.

The CEO of Niantic actually described the idea of ​​the VR Metaverse as a “dystopian nightmare.” So you might be a little surprised to hear that the same sentence mentions the company and the buzzword. Niantic’s AR Metaverse is designed to attract more people. This is in contrast to VR’s adoption of concepts that can only occur if you are wearing a very expensive headset.

If you’ve ever taken a picture of a nearby pocket stop, you’re already playing your part in helping Niantic build that metaverse. Simply put, Pokemon Go’s Metaverse is a layer that is placed in the real world. For example, if you give a statue, Niantic will tell you a little about the statue, thanks to what other users have posted. Most of the cash that Niantic continues to generate continues to be brought in by Pokemon Go. The hit AR game generated over $ 1 billion in 2020 and is on the way to breaking that record this year.

What Niantic couldn’t do was correctly identify another cash cow. It followed up on Pokemon Go’s first success by launching Harry Potter: Wizard Unite. Two years later, Niantic recently revealed that its magical AR game is over. Pikmin is the latest series of AR treatments by Niantic via Pikmin Bloom. Bloom requires much less attention and effort than Pokemon Go. I hope Niantic will help maintain power.

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