How to cash-in with Pokemon Go in Philippines

In just about a month or two, Pokémon GO has one way or another taken over the world. I never thought that I will be writing about Pokémon GO but this was born out of annoyance as some “financial advocates” scoffed at it as a WASTE OF TIME because “time is money” so they say; this irked the retired gamer (and Pokémon Trainer) in me.

Let’s put things in perspective: the company (Niantic) that developed Pokémon Go is now worth around $3+ billion in valuation and has put more than $210+ million since the day it was released. The game has been the fastest and most downloaded app to date available in 69 countries. Entrepreneurs and whatever advocates can learn a thing or two about this innovation in rapid growth, expansion and income.

What is Pokémon GO?
For the unfamiliar, Pokémon Go is a free-to-play, location-based (GPS) augmented reality game (mobile app) that was released in July 2016. It earns via in-app purchases utilizing the “Freemium” model by selling items needed to catch, breed, and grow Pokémon.

Yes, it can be addicting, but you can channel it such a way that you can make money out of it in the process too. This is just a run-down and I’ll write more of this in my blog: www.vernongo.com

Cashing in with Pokémon GO
Just like MMORPGs, a connected online game can grow its own economy, currency exchanges and the like commerce and these enterprising activities usually spill-over into the real world.

1. Professional Pokémon Trainer–basically, you ask a fee to play and catch Pokémon on others' behalf. Your market will be the eager/impatient, the lazy and people who are busy with adult responsibilities (childcare, pregnancy, difficult job).

2. Poké-service provider – you may not necessarily play but help support players (for a fee) instead:

* PokéStop Driver – for those who don’t have reliable transportation (if the weather is bad)

* Egg Hatcher – Unless you are trying to lose weight, you won’t do all the walking needed to hatch Pokémon Eggs.

* Pokémon Lurer - You can set-up ‘lure modules’ at PokéStops which players use to attract wild Pokémon for 30 minutes. Small business within proximity to a PokéStop benefit with increased foot traffic, advertising and potential business (or become a sponsored location). SM and Ayala Malls have already organized “Lure Parties” just last weekend!

3. Selling your account – this isn’t common now but eventually it will come to this. Some people just don’t have the time, patience or energy to find rare, strong Pokémon; this is where the Pro-Gamers come in, grinding and building up their character for sale.

4. Complementary ventures

* You can go to those PokéStops yourself by selling food/water/related merchandise (shirts, accessories, collector items or the like)

* Set-up charging stations or sell power banks

* If you own an internet hotspot device, then you can rent it for a fee!

* Startups specializing on support apps and online tools for PokémonGO

5. Pokémon Consultant – provide how-to guides, coaching, advisory to businesses (wait, this article is a guide!)

Mindful  Spending
It is a good thing that this app is helping businesses and tourism but don’t forget to be mindful of your expenses too (items, food, transport..etc..), for you could end up spending more.

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The writer is an RFP® - registered financial planner of RFP PH, Licensed Real Estate Broker and Director of CERTA, Inc., a family estate planning and investment advisory firm. To know more, please visit www.certa.ph
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Originally Published in Philstar - The Freeman Newspaper last August 16, 2016.