Web3 gaming studio Sugarverse has closed a $1 million funding round, which it plans to use to develop its upcoming mobile game, Sugar Match. The game is set to launch this summer on Etherlink, a Layer-2 network built on Tezos.
Sugarverse has released over 10 traditional games, reaching more than 60 million players. Now shifting toward Web3, the studio aims to create a rewards system that remains viable over time, rather than one that primarily benefits early adopters.
“Our goal is to create a game economy that provides long-term value for all players,” said Nikolay Mitev, Co-Founder and CEO of Sugarverse. “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.”
Sugar Match and Sugarverse’s Web3 Expansion
Sugar Match is the first of five planned mobile games under the Sugarverse banner. The studio is working to bridge the gap between traditional gaming and Web3 by making gameplay the priority, with blockchain elements introduced gradually.
“Mobile gaming is the fastest-growing sector, and we believe Web3 games should be easy to play,” Mitev said. “Our approach minimizes barriers to entry, allowing players to engage first and explore the Web3 features organically.”
Sugarverse’s Focus Areas for Web3 Gaming
The studio plans to use its new funding to work on:
- Gameplay & Engagement – Prioritizing fun and accessible design, rather than focusing solely on blockchain mechanics.
- Seamless Onboarding – Introducing a guest mode that allows players to try the game before engaging with Web3 features.
- Long-Term Reward Models – Taking inspiration from online poker, Sugarverse is working on an economy system that aims to provide more balanced rewards over time compared to traditional Play-to-Earn models.
Sugar Match’s Role in the Tezos Ecosystem
By launching on Etherlink, Sugar Match will take advantage of lower transaction fees and faster processing times, while still benefiting from Tezos Layer-1 security. The move aligns with Tezos’ efforts to expand its casual gaming offerings on the blockchain.
“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,” said Efe Kucuk, Head of Gaming at Trilitech.
What’s Next for Sugarverse?
With this latest funding secured, Sugarverse is continuing its development roadmap. The studio says it will reveal more details about its upcoming games soon.
“This funding is just the beginning of our journey toward making Web3 gaming a mainstream success. Our community is growing rapidly, and we’re excited to share more soon,” Mitev added.
For updates, visit Sugarverse’s website or follow them on X.
About Sugarverse
Sugarverse is building a unique Game Saga with 5 integrated mobile casual games with a self-sustaining Play & Earn economy, where players can monetize their gaming experience using their native token CNDY.
Etherlink is a non-custodial, EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. Etherlink is permissionless, inherits the technology of Tezos’ Layer 1, and features a decentralized governance model, fraud proofs, and censorship resistance. Learn more at Etherlink’s website.
About Tezos
Tezos is an open-source and energy-efficient blockchain designed to empower institutions, developers, and businesses and facilitate value transfer in a digital environment. It is designed for the scalable deployment of decentralized applications. As one of the first Proof of Stake blockchains, Tezos is globally supported and valued for its strong governance, long-term upgradability, and smart contract capabilities. More details can be found at Tezos’ website.
