# Rei and the Floating City

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

- Steam appid: 3721960
- Developer: Circle Gyu
- Publisher: Kagura Games
- Released: 2026 · Genre: RPG · List price: $19.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.6k to $2.3k per month (mid $1.9k)
- Opportunity score: $3.1k/month at x1.60 dormancy multiplier
- Est. lifetime owners: 1.9k · Est. lifetime net revenue: $12.7k
- Review sentiment: 76% positive across 105 reviews (59 from Steam purchases)
- Review velocity: 11.6 reviews/month (6-month average)

## Why it's flagged

- No developer announcement on record, ever
- Last build shipped 6 months ago
- 44% of reviews come from key activations (excluded from revenue estimates)
- Store page localized in only 2 language(s)

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $3.5k |
| After VAT / sales tax (-13% blended) | $3.1k |
| After refunds (-9.5% median) | $2.8k |
| Net to developer (after Steam 30%) | $1.9k |

## Monthly review counts, oldest to newest (5 months)

38, 13, 3, 3, 1

## Estimated acquisition range

$46.7k to $93.3k (2-4x the trailing net annuity of $23.3k/year). Same error range applies.

## Markets by review language

- german: 2% (game NOT localized in this language)
- english: 31%
- spanish: 4% (game NOT localized in this language)
- japanese: 2% (game NOT localized in this language)
- schinese: 61%

## Analyst notes (AI-assisted)

A 2026 indie RPG with character-driven narrative and extended playtime, published by Kagura Games and developed by Circle Gyu.

Rei and the Floating City is generating $1.9k-$2.3k/mo residually on minimal marketing effort, a 76% positive ratio, and zero discounts in 12 months, suggesting healthy organic demand and pricing power. The title's Mandarin review concentration (31 of 51 non-English reviews) and untapped Spanish localization gap point to underserved regional audiences. Revival or localization investment could unlock the $3.1k/mo opportunity figure; acquisition is unlikely unless Kagura Games seeks catalog consolidation.

- Most realistic play: revival
- Risk (market): Single-title developer with no post-launch communication on record suggests limited marketing bandwidth or player engagement infrastructure.
- Risk (other): Only 1,888 lifetime units and $12.6k lifetime net revenue indicates a small addressable base; regional expansion is essential to material ROI.

What players are asking for:
- Continued character and story development
- More content or sequel announcements
- Expanded language support, especially Spanish

Suggested first moves:
1. Commission Spanish localization and test market response via Steam regional pricing; 7.8% loc gap suggests quick payback.
2. Analyze Mandarin-language reviews separately to assess perceived value and cultural fit; 31 Chinese reviews on 59 total Steam reviews indicate untapped opportunity.
3. Secure developer roadmap or publish a post-launch content plan to convert positive sentiment into repeat engagement and sustained review velocity.

Generated 2026-08-21 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/3721960
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.