Here's press release issued exactly 25 years ago today, announcing a partnership that would have seen owners of the 8-bit Nintendo Entertainment System going online to trade stocks. It would have been the most challenging NES game, by far.
The entire NES Network project never quite made it off the ground, though a similar service was previously released in Japan, with an advertising campaign that used Mona Lisa for some reason.
October 2, 1989, Monday
NINTENDO; Fidelity Investments and Nintendo to develop home trading system Fidelity Investments, Nintendo Co. Ltd. and Nintendo of America Inc. Monday announced plans to jointly develop, manufacture and market a home trading system for financial services.
The system will give owners of the Nintendo Entertainment System, currently owned by millions in the United States and Canada for home video game play, access to a wide range of Fidelity's on-line financial services. The services offered include personal portfolio management, real-time trading of securities and mutual funds, as well as access to financial market information through Fidelity's home trading system.
Officials at Nintendo and Fidelity agree that the project between their firms represents a pivotal event for consumers. ''This is a significant breakthrough in the electronic delivery of financial information and services,'' said Jack Chafin, senior vice president of Fidelity Investments.
''It reflects Fidelity's continuing commitment to providing convenience to our customers. We think this will be a vital communication link in the 1990s.''
Jerry Ruttenbur, vice president of network products at Nintendo of America Inc., believes the project is of major importance for his company as well. ''This is a critical step toward the evolution of the Nintendo Entertainment System beyond traditional home video game play. We recognize this joint program with Fidelity Investments as an important development for the NES in the United States.''
Current plans call for Nintendo to develop and manufacture a modem and controller which will work with the NES and form a part of an NES Network. This network will provide interactive entertainment and informational products to NES owners. Nintendo plans to launch the NES Network in 1990.
Fidelity will develop software cartridges for home securities trading and will make these cartridges available to its present and future customers.
Fidelity is well known as a leading innovator of technology in the financial services industry. The firm won a Computerworld Smithsonian award for outstanding use of technology for Investors EXPRESS and FAST, Fidelity Automated Service Telephone. The award recogizes the role technology plays at Fidelity in making financial services more widely available to the individual investor.
Nintendo estimates that there will be 20 million American households with the NES by the end of 1989. Fidelity Investments currently manages more than $100 billion for its mutual fund and brokerage customers.
Both Chafin and Ruttenbur agree that the new Nintendo/Fidelity service will benefit the American public. ''This project between Nintendo and Fidelity adds an entirely new dimesion to how consumers can access and use financial services,'' said Chafin.
Nintendo of America Inc. is based in Redmond and is a wholly owned subsidiary of Nintendo Co. Ltd. of Kyoto, Japan, the world's largest manufacturer and marketer of video games. Fidelity Investments is based in Boston and is the nation's largest privately held investment manager.
CONTACT: Hill and Knowlton Inc., Los Angeles Richard Lindner or Susan Lietz, 213/937-7460 KEYWORD: CALIFORNIA MASSACHUSETTS WASHINGTON