NEW YORK (TheStreet) -- Nintendo's (NTDOY) jump into the mobile gaming market has taken the world by storm as players frantically attempt to "catch em' all" in "Pokemon Go."

The app, which was released last week but only in the U.S., Australia and New Zealand, has added more than $7 billion in market value, Bloomberg TV anchor Vonnie Quinn reported on "Bloomberg Markets" Tuesday morning.

It isn't an unusual sight these days to see people walking down the street glued to their smartphones, but the latest smartphone app craze has users hunting down virtual monsters in the real world. Don't be surprised if a stranger is aiming their phone at you, it could just mean there is a Pikachu by your feet.

The app works by using your phone's camera and GPS technology to detect your physical location then Pokemon will virtually appear around you for you to catch. Pokemon can pop up in everyday places such as your home, office, car, even the delivery room.

The app is the top free app and top grossing app in the U.S. iPhone (AAPL) app store, Bloomberg's Emily Chang reported. "Pokemon Go" has been installed on 5% of all Android (GOOGL) devices in the U.S.

"Investors can hardly contain themselves. Shares of Nintendo [are] soaring in Tokyo, the biggest gain since the game maker began trading 33 years ago," Chang continued.

Shares of Nintendo are up by 0.65% to $27.90 on the OTCMKTS, the stock closed higher by 12.73% in Tokyo on Tuesday.