Why Krafton's Victor Lee is Tired of 'Balatro with Different Cards': A Q&A on Roguelike Oversaturation

At Digital Dragons 2025, we sat down with Victor Lee, Director of Europe Investments for Krafton, the publisher behind Subnautica 2. Amid a panel on industry funding, Lee confessed his growing frustration with the flood of roguelike deckbuilder pitches—especially those that simply swap out a few cards and call it innovation. Here, he explains what's missing, what Krafton really wants, and why the market needs a shakeup.

What exactly is Victor Lee's role at Krafton, and what does he look for in game pitches?

Victor Lee oversees European investments for Krafton, which means he's the gateway for studios seeking publishing deals or funding. His job is to sift through hundreds of game concepts each year, evaluating their commercial potential, originality, and fit with Krafton's portfolio. He's looking for titles that stand out in a crowded market—games with a unique hook, strong mechanics, and a clear audience. But lately, he's been drowning in sameness. Lee told us that 80% of the decks he sees are roguelike deckbuilders, and many pitch themselves as “Balatro with different cards.” That's a red flag. He wants fresh ideas that break the mold, not just re-skins of existing hits.

Why Krafton's Victor Lee is Tired of 'Balatro with Different Cards': A Q&A on Roguelike Oversaturation — Source: www.rockpapershotgun.com

Why is the roguelike deckbuilder genre so oversaturated right now?

The success of Balatro and earlier hits like Slay the Spire created a gold rush. Developers see those games' commercial and critical acclaim and think, “I can do that too,” by tweaking the theme or adding one new mechanic. Lee explains that this is a classic market cycle: a breakout success leads to a flood of imitators. The problem is that most lack the polish, depth, or innovation that made the originals special. Publishers like Krafton are bombarded with similar concepts, making it harder for truly original roguelike deckbuilders to get noticed. Lee emphasizes that simply changing the art style or adding a few powers doesn't make a game worth publishing. The genre needs a new core idea—not just different cards.

What does Victor Lee mean when he says “roguelike can be anything”?

Lee's phrase captures a deeper frustration. Roguelike mechanics—procedural generation, permadeath, and runs—are incredibly flexible. They can be applied to shooters, RPGs, puzzles, strategy games, and more. Yet most pitches he sees confine themselves to the deckbuilding card-game format. He's calling for developers to think beyond cards and consider other genres that can benefit from roguelike elements. For example, a roguelike action RPG or a roguelike platformer could offer the same replayability without relying on shuffling cards. Lee believes the market is wide open for innovation, but too many creators are stuck in a narrow lane. He wants to see games that surprise him—ones that use the roguelike loop in a fresh context.

What advice does Lee have for developers trying to pitch a roguelike deckbuilder to Krafton?

If you absolutely must pitch a roguelike deckbuilder, Lee suggests you have a transformative idea, not just an incremental change. Avoid the phrase “Balatro with different cards” at all costs. Instead, think about what makes your game fundamentally different—maybe it's a roguelike deckbuilder that's also a narrative adventure, or one that uses real-time mechanics. Lee also advises developers to study the market thoroughly and identify gaps. “Don't just copy what's popular; find what's missing,” he says. Additionally, polish your prototype to a high standard—publishers see hundreds of rough demos, so yours needs to feel refined. Finally, be ready to explain why Krafton is the right partner for your game, not just any publisher. Show that you understand their portfolio and how your game adds value.

Has the roguelike deckbuilder boom hurt the chances for genuinely innovative roguelike games in other genres?

Yes, in a way. Lee observes that publishers and investors have become wary of the term “roguelike” because it's often associated with derivative deckbuilders. This creates a “bad smell” that makes it harder for creative roguelike applications in other genres to get noticed. For example, a studio might pitch a roguelike shooter with a clever progression system, but the publisher's first reaction is “Oh, another roguelike.” Lee admits this is unfair, but it's a reality of the current market. He encourages developers to lead with the genre fusion—like a shooter with roguelike elements—rather than leading with the roguelike label. By reframing the pitch, they can avoid the stigma while still leveraging the mechanics that make roguelikes compelling.

What types of games is Krafton actively looking to invest in right now?

Krafton is hungry for games that show genre innovation, strong production value, and a clear vision. Lee mentions they're especially interested in narrative-driven experiences, multiplayer games with social hooks, and immersive simulations. They're also open to new genres that combine roguelike elements in unexpected ways—like a roguelike survival game or a roguelike life sim. “We want to be surprised,” Lee says. After the success of Subnautica 2 and other titles, Krafton has the resources and appetite to back unusual concepts. Lee advises developers to pitch something that makes him lean forward and think, “I've never seen that before.” That's the kind of energy he's looking for in 2025 and beyond.

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