# UnMetal

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

- Steam appid: 1203710
- Developer: @unepic_fran
- Publisher: Versus Evil
- Released: 2021 · Genre: Action · List price: $19.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.9k to $4.4k per month (mid $3.7k)
- Opportunity score: $6.9k/month at x1.90 dormancy multiplier
- Est. lifetime owners: 75.8k · Est. lifetime net revenue: $377.7k
- Review sentiment: 94% positive across 3607 reviews (2368 from Steam purchases)
- Review velocity: 29.3 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.7 years
- Studio active elsewhere (4 titles tracked), so this one may welcome a partner
- Last build shipped 35 months ago
- Last discounted 0 months ago, 10 sales in the last 12 months
- Proven demand elasticity: x1.4 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $6.6k |
| After VAT / sales tax (-13% blended) | $5.8k |
| After refunds (-9.5% median) | $5.2k |
| Net to developer (after Steam 30%) | $3.7k |

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

37, 37, 13, 15, 34, 29, 34, 76, 68, 31, 26, 26, 36, 18, 19, 23, 28, 51, 30, 33, 21, 32, 25, 35

## Estimated acquisition range

$87.7k to $175.4k (2-4x the trailing net annuity of $43.9k/year). Same error range applies.

## Analyst notes (AI-assisted)

UnMetal is a 2D stealth-action homage to classic Metal Gear that strips the series to its tactical essentials and wraps them in absurdist humor.

UnMetal has quietly sustained $3.7k/mo in residual revenue against a $19.99 price point, driven by a 93.6% positive review rate and strong replay value signaled by 18–46 hour play sessions. The title's appeal lies in its licensed-IP parody positioning and tight mechanical execution rather than content churn. For a publisher seeking low-maintenance catalog depth or a studio interested in IP licensing arrangements with Konami, this represents a proven proof-of-concept in parodic stealth-action that has earned trust through word-of-mouth rather than marketing spend.

- Most realistic play: licensing
- Licensed IP: the game is built on third-party intellectual property
- Risk (licensed_ip): Game is a direct parody of Metal Gear; Konami owns the franchise and could issue a cease-and-desist if licensing terms are not formally documented or have expired.
- Risk (market): Developer has posted no public update in 32.4 months; long content silence may indicate permanent hiatus or internal resource constraints.
- Risk (other): 34% of keys distributed off-platform; full revenue visibility is constrained, and key-reseller margins may have compressed per-unit contribution.

What players are asking for:
- Support for portable platforms (Ayn Thor and mobile mentioned)
- Higher difficulty modes (player explicitly planning to replay on hard)
- Possible sequel or spiritual successor with fresh licensed target

Suggested first moves:
1. Verify formal IP licensing agreement with Konami; if none exists or has lapsed, establish whether parody-under-fair-use can withstand legal challenge, or negotiate retroactive license.
2. Contact @unepic_fran directly to assess willingness to support a portable port or console release; community is already requesting this, suggesting low friction and immediate audience.
3. Audit the 34% key-reseller channel to quantify leakage and identify whether platform consolidation (removal of key eligibility or regional restrictions) would improve contribution margin on future sales or a hypothetical acquisition.

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/1203710
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.