Sugarverse has secured $1 million in funding to continue enhancing blockchain gaming.
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.
With a background in mobile gaming, Sugarverse has previously launched over 10 Web2 games, attracting more than 60 million players.
The company aims to address key issues in Web3 gaming, particularly unsustainable reward structures and declining token value. According to CEO and Co-Founder Nikolay Mitev, the goal is to create a balanced in-game economy that provides long-term benefits to all players rather than only rewarding early adopters.
“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,” said Nikolay Mitev,
“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 under Sugarverse’s new strategy. The company focuses on making Web3 gaming more accessible by minimizing entry barriers and allowing players to experience the game before engaging with blockchain features.
Addressing Web3 Gaming Challenges
The newly raised funds will support three main areas in Sugarverse’s Web3 gaming strategy:
- Enhanced Gameplay & Engagement: Instead of prioritizing blockchain mechanics, Sugarverse is focusing on delivering engaging gameplay with strong game design and data-driven optimization.
- Seamless Onboarding: Players can start playing instantly using a guest mode, gradually transitioning into Web3 features without a steep learning curve.
- Sustainable Rewards Model: Inspired by online poker, Sugarverse’s economic model ensures fair and long-term rewards, avoiding common pitfalls seen in traditional Play-to-Earn models.
“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,” said Efe Kucuk, Head of Gaming at Trilitech.