A new mobile game being developed by iCandy Interactive (ASX: ICI) has completed an early-access trial with Google Play and established a considerably higher monetisation matrix compared to iCandy’s suite of gaming products.
The trial aimed to track the in-app behaviours of 80,000 gamers playing Masketeers: Idle Has Fallen, recording a first day game retention rate of 40%.
First day retention is a closely-watched user retention matrix in the gaming industry and Masketeers registered almost 10% higher than iCandy’s most successful game title to date, Crab War.
Crab War has generated more than $3.5 million in revenue since its launch and continues to generate substantial income for iCandy.
Masketeers has demonstrated potential to double the in-game purchase and advertising revenue of Crab War.
Also higher was the game’s monetisation rate, with Masketeers recording an average revenue per paying user (ARPPU) of US$35.62.
For in-game advertising income, the game recorded an average revenue per user (ARPU) of US$0.63 in the US – one of the main markets for iCandy’s games – and US$0.34 for rest of the world.
By comparison, Crab War has an ARPPU of US$17.31, with an ARPU of US$0.36 in the US and US$0.15 for rest of the world.
iCandy chairman Kin-Wai Lau said the development of Masketeers had generated strong interest, with 750,000 pre-orders received from the international gaming community.
“Our team has put in tremendous effort to ensure this game is released without any delay,” he said.
“The encouraging trial results indicate it will be possibly the biggest game title [we] have ever released and we are already planning for constant content updates to the game once it is launched next month.”
Earlier this month, iCandy raised $1.25 million in an oversubscribed placement at $0.02 per share to grow its business in Australasia.
More than $5 million in bids was received from a number of funds, sophisticated investors and existing shareholders including Chinese top three internet company Baidu, Japan’s VC Incubate Fund, and Animoca Brands.
“The overwhelming response for the placement demonstrates there is huge confidence in [our company] leading into the launch of our next suite of games,” Mr Lau said.
“With the fresh capital, [we are] now better positioned to expand our mobile gaming and esports business and drive new marketing initiatives in Australia and Asia.”
The placement was managed by Peak Asset Management.