P99 is not for profit, but its business model could be adapted to a for profit one if it were legal for devs to do so. It isn't.
Server mimics a F2P model without Pay to Win. Donations are made by whales.
In most F2P games there a not many whales compared with players who don't pay much. The amount of whales in a given game are in the 1 in 50 player to 1 in 200 player range.
All it takes is a few whales to donate to make the numbers pencil out for a significant higher population within a given server.
With the tens of thousands of players that have played on p99 since launch Devs have brought in enough whales over the last dozen years to pay for all of their current plans.
Do the math
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