# Infernax

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

- Steam appid: 374190
- Developer: Berzerk Studio
- Publisher: The Arcade Crew
- Released: 2022 · Genre: Action · List price: $19.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.5k to $2.2k per month (mid $1.9k)
- Opportunity score: $3.0k/month at x1.60 dormancy multiplier
- Est. lifetime owners: 67.6k · Est. lifetime net revenue: $336.9k
- Review sentiment: 93% positive across 2245 reviews (2112 from Steam purchases)
- Review velocity: 15.0 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 2.9 years
- Studio active elsewhere (3 titles tracked), so this one may welcome a partner
- Last build shipped 10 months ago
- Last discounted 1 months ago, 6 sales in the last 12 months
- Proven demand elasticity: x1.5 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $3.4k |
| After VAT / sales tax (-13% blended) | $3.0k |
| After refunds (-9.5% median) | $2.7k |
| Net to developer (after Steam 30%) | $1.9k |

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

11, 22, 23, 23, 16, 35, 35, 36, 14, 13, 6, 22, 19, 9, 26, 15, 26, 22, 13, 17, 11, 8, 9, 32

## Estimated acquisition range

$44.9k to $89.7k (2-4x the trailing net annuity of $22.4k/year). Same error range applies.

## Analyst notes (AI-assisted)

A 2022 action-adventure game inspired by Castlevania II and classic NES-era design, with exploration, branching narratives, and retro pixel art.

Infernax has quietly accumulated $337K lifetime revenue on modest velocity (6 sales in 12m) but maintains a 93% positive rating and steady residual income of $1.87K/mo. The game appears to have found its niche audience among retro-game enthusiasts who value deliberate design over mainstream appeal. For a small publisher or studio evaluating IP extensions, licensing deals, or catalog consolidation, this represents a stable, low-maintenance title with proven community goodwill and room to grow through targeted marketing or platform diversification (console ports, GOG, regional pricing).

- Most realistic play: publishing
- Risk (market): Retro-action niche is crowded; limited mainstream visibility may cap future growth without significant marketing investment.
- Risk (other): Developer (Berzerk Studio) has only 2 titles in portfolio; unknown capacity for post-launch support or sequel development.
- Risk (other): No developer communication in 34 months suggests inactive engagement, which may concern players expecting updates or community dialogue.

What players are asking for:
- Console versions (Switch, PlayStation) to reach portable/living-room audiences
- Additional content or sequel to expand the Infernax universe
- Quality-of-life refinements (difficulty options, accessibility features, controller remapping feedback)

Suggested first moves:
1. Audit console-port feasibility (Switch/PlayStation 5) to capture handheld and console-first audiences, which often move indie retro-action titles from 4-figure to 5-figure monthly revenue.
2. Assess IP ownership and developer intentions: confirm whether Berzerk Studio retains full control and would consider partnership (co-marketing, publishing expansion, licensing) or if acquisition is possible.
3. Evaluate regional and storefront diversification (GOG, Epic, console eShops, regional pricing for emerging markets) to boost the $1.87K/mo baseline without relying on new content.

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/374190
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.