Heroic Fantasy is a computer-moderated, dungeon crawl play-by-mail game. It has been active since 1982 when it was published by Flying Buffalo. The initial edition involved nine dungeon levels. Flying Buffalo published subsequent editions due to challenging gameplay initially, eventually limiting the game to four dungeon levels with a fifth outdoors level where players can assemble an army and capture one or more castles. The game is open-ended; gameplay continues until players decide to stop.

Flying Buffalo Inc. (FBI) is a game company with a line of role playing games, card games, and other gaming materials. The company's founder, Rick Loomis, began game publishing with Nuclear Destruction, a play-by-mail game which started the professional PBM industry in the United States. Loomis added games and players while introducing computer moderation and soon incorporated into the company Flying Buffalo Inc. The company published games in other genres, including card games such as Nuclear War and a role playing game called Tunnels & Trolls, a game similar to Dungeons & Dragons. Flying Buffalo acquired its 10,000th customer account number in 1980 and reached its largest size of 21 employees in 1983.