Sugarverse Secures $1M in Funding, Announces Sugar Match Launch on Etherlink

Sugarverse, a Web3 gaming studio focused on building sustainable in-game economies, has successfully raised $1 million in a recent funding round. The investment will support the upcoming launch of Sugar Match, the company’s flagship gaming product, on Etherlink, Tezos’ high-performance Layer 2 network.

The Web3 gaming industry has experienced rapid growth but continues to grapple with sustainability challenges. Many blockchain-based games struggle with declining token value and reward structures that disproportionately benefit early adopters. Sugarverse aims to address these issues by leveraging its extensive background in mobile gaming. The studio has previously developed over ten Web2 games, attracting a player base of more than 60 million users.

Nikolay Mitev, co-founder and CEO of Sugarverse, highlighted the company’s vision for Web3 gaming:

“Our goal is to create a game economy that doesn’t just reward early adopters but provides long-term value for all players. Many Web3 games struggle with declining token value and unsustainable reward structures. We have a proven approach that brings balance to in-game economies, ensuring that players at every stage have equal opportunities to benefit.”

Bringing Web3 Gaming to the Masses

Sugar Match will be the first release in a planned five-game series designed to bridge the gap between traditional gaming and blockchain technology. Unlike many Web3 projects that focus heavily on blockchain mechanics, Sugarverse prioritizes fun and accessibility. Players can start instantly in guest mode, easing into Web3 features over time.

Efe Kucuk, Head of Gaming at Trilitech, praised the project’s approach:

“Sugarverse’s experience in mobile gaming brings a familiar and accessible approach to Web3. The launch of Sugar Match on Etherlink is a natural step in expanding the Tezos ecosystem with more casual gaming experiences. We’re excited to see how their approach to game economies plays out in the space.”

Inspired by online poker’s economic model, Sugarverse has designed a balanced reward system to avoid the pitfalls of traditional play-to-earn games. By integrating data-driven optimization and high-quality game design, the company seeks to drive engagement while ensuring long-term sustainability.

With its roadmap outlining ambitious milestones—including NFT launches, partnerships, and marketing activations—Sugarverse wants to position itself as a major player in the Web3 gaming landscape.