# Curious Expedition 2

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 1040230
- Developer: Maschinen-Mensch
- Released: 2021 · Genre: Adventure · List price: $19.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.4k to $2.1k per month (mid $1.7k)
- Opportunity score: $2.9k/month at x1.65 dormancy multiplier
- Est. lifetime owners: 123.2k · Est. lifetime net revenue: $613.9k
- Review sentiment: 89% positive across 4137 reviews (3849 from Steam purchases)
- Review velocity: 14.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 12 months
- Studio quiet across its whole catalog
- Last build shipped 26 months ago
- Last discounted 1 months ago, 11 sales in the last 12 months
- Proven demand elasticity: x1.3 review velocity during past deep sales

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $3.2k |
| After VAT / sales tax (-13% blended) | $2.8k |
| After refunds (-9.5% median) | $2.5k |
| Net to developer (after Steam 30%) | $1.7k |

## Monthly review counts, oldest to newest (24 months)

79, 24, 28, 23, 18, 23, 14, 44, 25, 23, 21, 46, 30, 24, 18, 18, 20, 17, 19, 11, 16, 8, 12, 18

## Estimated acquisition range

$41.9k to $83.7k (2-4x the trailing net annuity of $20.9k/year). Same error range applies.

## Analyst notes (AI-assisted)

Curious Expedition 2 is a turn-based roguelike adventure game with hand-drawn art and procedural storytelling set in a stylized 19th-century exploration world.

CE2 has maintained modest but steady residual revenue ($1.7k/mo) over three years post-launch, driven by strong community sentiment (89% positive) and high replay value. The title shows elasticity to discounting (1.28), suggesting room to test pricing or bundling strategy. However, developer Maschinen-Mensch appears inactive (last post 12 months ago), and the studio's two-title catalog hints at limited bandwidth, making acquisition or publishing support the more realistic play than revival.

- Most realistic play: publishing
- Risk (other): Developer dormancy: 12 months without public communication raises questions about post-launch support or bug fixes.
- Risk (market): Niche genre (turn-based roguelike) and low mainstream visibility limit growth ceiling without active marketing.
- Risk (other): Studio status marked 'fading' with only two titles; acquisition of IP alone may leave no ongoing development capacity.

What players are asking for:
- Clarification on whether the first game remains superior or if CE2 stands alone
- New content or balance updates to refresh replayability after 3 years

Suggested first moves:
1. Contact Maschinen-Mensch to clarify licensing, IP ownership, and willingness to sell publishing rights or the studio itself; confirm whether post-launch support is paused or deprioritized.
2. Run a A/B test on discount depth and duration (current max 75%; last discount 1 month ago): elasticity 1.28 suggests 20-30% off may yield better margin than deep sales.
3. If publishing deal is viable, map seasonal sale calendars (Q4, summer event, franchise anniversaries) and bundle opportunities with the original Curious Expedition or similar roguelikes to cross-promote.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/1040230
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.