Sugarverse Raises $1M to Expand Web3 Gaming and Launch Sugar Match

A $1 million investment has been made by Sugarverse to improve its Web3 gaming ecosystem. The funding will contribute to the improvement and accessibility of blockchain gaming experiences. This expansion will include the release of Sugarverse’s first Web3 game, Sugar Match, this summer on Etherlink, a Layer-2 scaling solution for Tezos.

Sugarverse, which has experience with mobile gaming, has created over ten Web2 games that have amassed a player base of over 60 million. The company’s current goal is to address issues with Web3 gaming, such as erratic token values and unviable incentive schemes.

CEO and Co-Founder Nikolay Mitev emphasized the company’s mission: “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.”

Addressing Web3 Gaming Challenges

Sugarverse plans to use the funding to enhance three key areas in Web3 gaming:

• Immersive Gameplay & Engagement: Instead of focusing solely on blockchain features, the company prioritizes fun, data-driven game design.
• User-Friendly Onboarding: A guest mode allows players to start immediately, gradually introducing them to blockchain mechanics.
• Sustainable Reward System: Inspired by online poker, Sugarverse’s economic model ensures fair and long-term player rewards, avoiding the flaws of traditional Play-to-Earn games.

The company’s strategy includes launching five casual Web3 mobile games, with Sugar Match as the first. By removing complex entry barriers, Sugarverse aims to make blockchain gaming more mainstream.

Efe Kucuk, Head of Gaming at Trilitech, praised the initiative: “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.”

With this investment, Sugarverse is set to reshape Web3 gaming, ensuring long-term player engagement and economic sustainability.