# FlipWitch - Forbidden Sex Hex

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

- Steam appid: 1748620
- Developer: MomoGames
- Publisher: Critical Bliss
- Released: 2023 · Genre: Action · List price: $14.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $4.8k to $7.2k per month (mid $6.0k)
- Opportunity score: $7.8k/month at x1.30 dormancy multiplier
- Est. lifetime owners: 176.3k · Est. lifetime net revenue: $659.0k
- Review sentiment: 95% positive across 5985 reviews (5510 from Steam purchases)
- Review velocity: 64.5 reviews/month (6-month average)

## Why it's flagged

- Developer active, last post 5 months ago
- Last build shipped 33 months ago

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $10.9k |
| After VAT / sales tax (-13% blended) | $9.5k |
| After refunds (-9.5% median) | $8.6k |
| Net to developer (after Steam 30%) | $6.0k |

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

111, 156, 86, 100, 140, 189, 77, 122, 67, 103, 115, 129, 118, 104, 76, 77, 68, 92, 52, 70, 77, 70, 54, 64

## Estimated acquisition range

$144.6k to $289.3k (2-4x the trailing net annuity of $72.3k/year). Same error range applies.

## Markets by review language

- english: 51%
- koreana: 4% (game NOT localized in this language)
- japanese: 2%
- schinese: 7%
- brazilian: 3% (game NOT localized in this language)
- french: 2% (game NOT localized in this language)
- german: 0% (game NOT localized in this language)
- russian: 28%
- spanish: 4% (game NOT localized in this language)

Localization gap: 13% of measured reviews are written in languages the game does not support (top: spanish). Localizing is likely immediate market expansion.

## Analyst notes (AI-assisted)

A 2D metroidvania with stylized pixel art, exploration-driven level design, and adult content, built as a complete single-player experience.

FlipWitch demonstrates strong product-market fit: 94.5% positive reviews, 6,000+ lifetime reviews, $659k lifetime net revenue, and a stable $6,027/mo residual stream 33 months post-launch indicate a well-executed niche title with durable appeal. The core metroidvania gameplay is the primary driver, not the adult content, per player testimony. Opportunity exists for a sequel greenlight, IP licensing (art/characters to adult media platforms), or catalog acquisition by publishers seeking proven mid-tier action titles with built-in audience loyalty.

- Most realistic play: acquisition
- Risk (market): Adult content restricts distribution partnerships, retail placement, and mainstream marketing; Steam discoverability remains primary channel.
- Risk (other): Developer MomoGames shows low output (1 title); sequel or spin-off execution risk is material if acquisition includes ongoing development expectations.
- Risk (tech): Player reports of floaty character control and clunky action mechanics suggest underlying engine/design friction that could resurface at scale.

What players are asking for:
- Sequel or second chapter (mentioned multiple times in reviews)
- Longer playtime and expanded content (9+ reviews note 8-24h felt short)
- Boss AI and difficulty balancing (several bosses exploit exploitable AI or create unfair advantage ranges)
- Expanded adult content variety and frequency (players note scenes are sparse, formulaic, and short)

Suggested first moves:
1. Conduct IP rights audit and localization cost estimate for Spanish (13.4% language gap; 208 Spanish reviews indicate untapped market segment)
2. Secure franchise roadmap interview with MomoGames: clarify sequel plans, character/world IP scope, and willingness to partner on publishing or development co-investment
3. Benchmark against comparable action catalog acquisitions (e.g., Hollow Knight, Terraria legacy revenue) to establish valuation for $659k lifetime, $6k/mo residual title

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/1748620
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.