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With NDA lifted as iPhone makes way to the market, the App Store goes live as well with talks already heating up over the countless applications already available. The store came to life this morning with almost 550+ applications that range from Super Monkey Ball to something as simple as an Abacus. The prices are as diverse as the applications available with the Abacus for $0.99; letting you count and customize the abacus in your way.

With the downloading of iTunes 7.7 you can make purchases of the applications from the store directly. Apart from the purchases made iTunes also lets you get all the information you need for the particular application you would like to purchase.

What’s surprising here is that the Apple has already pocketed $55,000 worth with its neat 30% share it pockets at every download made. Din Kimerling has reported that if the sales graph keeps growing at this rate the Application store would alone generate $20 million worth of annual revenue for Apple.

But will these sales remain growing at the same rate? Seems highly impossible given the hype iPhone 3G has created and the number of applications that have been launched prior its launch. Developers out in the Web-sphere are already punching in their brains to come out with something big for the iPhone; the phone that’s tipped to change the internet experience (and I bet it already has).

Just to give a view of what applications (a few of them) are already available:

• Twitterific

• Loopt

• Whrrl

• EA

• PhotoBucket

• Limbo

• MySpace

• Shazam

• Wordpress

The list is tipped at over 500 applications as of present reports. Is this static? I doubt so.