AdZap × Vietnam | Studios Pipeline

Publishing Pipeline

For Jules

Studio	Heritage & Steam	Track record	Deal preference	Why
PlayPax Vietnam · 6 ppl Score: high tier	✓ Hyper-casual + multiplayer ✗ No Steam shipping yet ✓ Unity; strong in-house 3D art ✓ Shipped 50+ games already, many as outsourcing shop	50K+ Mad Squad organic downloads Zero marketing. Low-end Android FPS niche. 15 yrs game dev / 50+ titles incl. VR education + film VFX.	Mix preferred Dev fee + 10–20% revshare	Comfortable building from 2-page specs. Said Butcher Shop Sim would be no problem at all. 4-6mo build timeline also no problem. Strong 3D art team can match AI marketing visuals - flagged this as a requirement themself.
Watermelo China · 2 core + outsource Score: mid-tier	✓ 3D card/sim heritage ✓ Previously shipped game with Mattel IP ✗ Expensive	He-Man: Battle for Eternia 3D card game · Mattel IP Reviewed Butcher + Witch Shop Sim concepts; reviewing Supermarket Together as reference. 6mo confidence (not 4).	Dev fee ~$5K/person/mo · ~$15K total (flagged high)	Lean team, fast to spin up. China-based, not Vietnam. I think not a fit.
Tito Games Studio Vietnam · 8 ppl Score: mid-tier	✓ Hyper-casual (currently w/ Voodoo) ✗ No Steam shipping yet ✓ 3D mobile sim experience (Animal Quest)	Magic Blocks Blast w/ Voodoo CPI < $1 · ~27min session 2-week prototype turnaround (50 levels + boosters).	Hybrid $4K/mo for full Steam scope	Confident on 4–6mo Steam sim despite no Steam history. Said Butcher Shop concept is doable. Affordable, fast prototyping team, currently in Voodoo's orbit.
Technology Anatomy Vietnam · 15 ppl Score: very high	✓ Steam-native 8+ years ✓ Shipped 6+ Steam titles, every one profitable ~ Dating sim + RPG niche (not the tested sim genre, but proven shipper)	$1.9M lifetime Steam revenue · 1M+ units Past titles: – Love N War – Hero by Chance 2 – Love N Life – Happy Student Latest title: 100K wishlists · Avg 30–35% wishlist conversion 55% audience in China. 20K Discord community.	Rev Share 50/50	Strongest track record in the pipeline.
VGames Vietnam · 67 ppl in the studio, 12 on their steam game Score: high	✓ Successful mobile game studio ~ Currently building Farm of Hope (Steam sim, 1yr+ in dev) ✗ Failed Steam attempt 8 yrs ago w/ Gan Gun	$1M+ Gan Gun Online Prototyped with Voodoo & Lion historically but never launched (model didn't fit the studio). Farm of Hope is their first Steam attempt in 8 years — already 1 year in dev, no wishlists yet, planned Nov/Dec launch.	50/50 revshare only Doesn't like work-for-hire/outsourcing	Has prior co-op experience which is interesting. Said Butcher Shop concept is doable; would also be the strongest candidate in the pipeline a multiplayer co-op concept.
Dreamsoft Hanoi · 30 ppl Via Zalo · Hanoi visit July Score: mid-tier	✗ MMORPG specialists (not hyper-casual) ✗ No Steam shipping yet ✓ Has only shipped PC games	$200K–$300K lifetime (VN market only) 2D MMORPG focus	Mix preferred	Team is booked 3–4 months out, but said they'd build a dedicated team for a sim direction. Bigger value: easiest path to the rest of Hanoi's indie scene via the Vietnam Game Association. Office visit in July to meet 3+ more studios they're lining up.

Agency Pipeline

For Mathias

Studio	Live Steam revenue	Current marketing	China exposure	Why
Technology Anatomy Saigon · 15 ppl	$1.9M lifetime 1M+ Steam units · 6+ titles · every one profitable Latest title: 100K wishlists, 17.4% conversion. Prior titles converted at 30–35%.	$0 paid ads · ever Steam + Discord + Reddit + YouTube + Bilibili + Douyin (all organic) 20K Discord community. No Facebook ad account, no Google Ads spend. Has explicitly said they want to explore paid acquisition.	55% of audience Plus growing Korea presence. Chinese market handled today via a local partner — looking for upgrade.	The single best agency lead in the pipeline. A profitable Steam studio with $1.9M lifetime revenue and zero ad spend. A textbook agent-ready account. Adzap's China-targeting capability is key. Current audience built entirely from organic + partner.
Rarereverse Saigon · ~10 ppl Still sourcing an introduction	The Scourge / Tai Ương 93% Very Positive · 1,133 Steam reviews · EA since Oct 2024 Full launch (PC + Xbox) Q1 2026. Top 6 Gamehub 2024 finalist.	~ Some marketing run by team Active soundtrack release + festival circuit. No visible paid UA stack. Dual business — game dev + outsourced cinematic trailers / CGI for other studios. Means they understand creative production at a high level.	China deal live Publishing partnership w/ LICOGAME (China) Game already localized into Simplified + Traditional Chinese, Japanese, Korean.	Full launch in Q1 2026 = a hard deadline for UA. They've earned audience love (93% Very Positive on a real review volume), they have a China publishing deal but the publisher only handles distribution, I believe paid acquisition outside of China is wide open. First contact planned this week.
VGames HCMC D10 · 67 ppl studio	~ Steam pre-revenue (Farm of Hope) 1 year in dev, no wishlists yet, Nov/Dec launch planned Mobile track record: Gan Gun Online ($1M+ rev, 5M dl, 2020); Chess TD (1M+ dl, co-op multiplayer).	✓ Active spender Self-publishes mobile portfolio · spends across Google Apps, GenieDay, Bingo, TikTok Doesn't run paid ads on Steam yet — Farm of Hope launch is the inflection point.	✗ Not focused on China VN domestic + SEA	Established ad-spend habits + a Steam launch coming up. Already spending on mobile UA across multiple channels, so the agency-onboarding friction is low. Farm of Hope launch (planned Nov/Dec 2026) is the wedge — they'll need a Steam-specific stack they don't have yet. Lower China upside than the other two, but a faster sale.
Dreamsoft Hanoi · 30 ppl	$200K–$300K lifetime (VN-only) Mobile MMORPG · 5,000 CCU peak · social-marketing-driven, not UA-driven	~ 1 internal ads-perf specialist + 1 social marketing specialist. Currently focused on community-building over paid UA.	✗ Vietnam-only today Wants to expand into global market — China would be relevant once they do	Not yet — but flagged for the longer arc. Vietnam-only revenue today and no Steam presence, so the agency case isn't there. Worth tracking: explicitly said they want to take the studio global, and is structurally healthy enough to do it (30 ppl, profitable, in-house ads-perf hire). When they ship their first international title, the agency conversation becomes natural.