2024-02-28 03:53:40
Shares of Japanese company DeNA rose 24% in Tokyo on Wednesday following the company said it will launch a mobile version of the popular Pokemon trading card game later this year. Investors are betting that the stock will be a hit.
“Pokemon Trading Card Game Pocket” from DeNa, the Pokemon Company and gaming company Creatures will launch for iOS and Android, allowing players to collect and trade cards with classic and new designs and play fast-paced battles, such as it says in the announcement.
The Pokemon trading card game, based on the popular Nintendo video game series, was introduced in Japan in 1996 and later gained widespread popularity in the United States, with more than 50 billion cards printed.
The business model, developed in the 1990s by American designer Richard Garfield, sees players compete once morest each other using sealed booster packs containing various designs and rarity levels.
In recent years, trading cards have gained more attention as rare cards in pristine condition command high valuations in the volatile alternative asset market.
Digital trading card games have also become established. The most popular titles include versions of “Magic”, “Yu-Gi-Oh!” and “Hearthstone,” which is based on the “Warcraft” franchise.
DeNa has worked with Nintendo on mobile games like “Mario Kart Tour” but has struggled with competition from Chinese rivals in the saturated mobile phone market. The company’s shares have fallen around 40% since their peak in May last year. (Reporting by Sam Nussey; Editing by Christopher Cushing)
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