Sugarverse Raises $1 Million in Funding to Expand Its Web3 Gaming Portfolio

As part of this initiative, Sugarverse announced that its first Web3 game, Sugar Match, will launch on Etherlink, a Layer-2 scaling solution for Tezos, this summer.

Sugarverse, a gaming studio developing mobile casual games with integrated Web3 features, has announced the completion of a $1 million seed funding round.

The company is continuing its initiative to enhance blockchain gaming with the launch of its first Web3 game, Sugar Match, set to debut on Etherlink, a Layer-2 scaling solution for Tezos, this summer.

The seed funding was led by Trilitech, a technology startup foundry focused on building the next generation of Web3 companies. The funding will be used to support the company’s new strategy for accessible and engaging Web3 gaming experiences.

With a background in mobile gaming, Sugarverse has previously launched over 10 Web2 games, attracting more than 60 million players. The company is now applying its experience to create casual games with integrated blockchain features, aiming to address key issues in the space.

According to CEO and Co-Founder Nikolay Mitev, many Web3 games struggle with declining token value and unsustainable reward structures, especially for later joiners. Sugarverse’s approach focuses on creating a balanced in-game economy that provides long-term benefits to all players.

“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 unserstainable 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,” said Nikolay Mitev, CEO and Co-Founder of Sugarverse.

“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 details about other upcoming games soon.”

Sugar Match is the first of five planned mobile casual Web3 games. The company is focusing on minimizing entry barriers and allowing players to experience the game before engaging with blockchain features to make Web3 gaming more accessible.

The new funds will support three main areas in Sugarverse’s Web3 gaming strategy:

* Launching the first casual game on Etherlink, showcasing the potential of the Tezos ecosystem for broader audiences.

* Expanding Sugarverse’s community through community-driven initiatives and events.

* Developing the next generation of mobile casual games with integrated Web3 features.

“We’re excited to continue supporting promising Web3 startups like Sugarverse through our foundry model. Their 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,” said Efe Kucuk, Head of Gaming at Trilitech.