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Web3 Gaming Studio Sugarverse Raises $1M, All Set to Launch Sugar Match Game on Tezos L2 Etherlink

10M ago•

TheNewsCrypto

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Sugar Match, the first of its future mobile casual Web3 games, will debut this summer on the Tezos Layer-2, Etherlink.
Having released over ten popular Web2 games with a combined player base of over 60 million, Sugarverse is using its wealth of mobile gaming expertise.

Sugarverse, a cutting-edge gaming studio committed to building lucrative and sustainable in-game economies, has secured a $1 million USD funding round, marking a significant milestone. Sugarverse will utilize the funds collected from the round to further its goal of transforming blockchain gaming by creating games that leverage a unique sustainable rewards model to reward devoted players. Additionally, the studio said today that Sugar Match, the first of its future mobile casual Web3 games, will debut this summer on the Tezos Layer-2, Etherlink.

Although the Web3 gaming industry has grown quickly, there are still many obstacles to overcome, especially with regard to the viability of in-game economies. Having released over ten popular Web2 games with a combined player base of over 60 million, Sugarverse is using its wealth of mobile gaming expertise and putting in place a mechanism that guarantees players consistent and equitable benefits.

Nikolay Mitev, Co-Founder and CEO of Sugarverse stated:

“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.”

Following Sugarverse’s transition to a Web3 studio, Sugar Match will be the first game released. It is also the first in a five-game series of mobile casual Web3 games that aim to bridge the gap between Web3 and conventional gaming.

Mitev added:

“Mobile gaming is the fastest-growing sector, and we believe Web3 games should be accessible and easy to play. Our approach minimizes barriers to entry, allowing players to engage first and explore the Web3 features organically.”

Three major issues in Web3 gaming will be addressed with Sugarverse’s funding:

Enhanced Gameplay & Engagement – Unlike many Web3 games that just concentrate on blockchain mechanics, Sugarverse places a premium on enjoyment and interaction via excellent game design and data-driven optimization.
Smooth Onboarding- For a seamless transition and increased uptake, players may begin immediately in guest mode and progressively introduce Web3 capabilities.
Sustainable Rewards Model – Sugarverse’s economy, which was inspired by online poker, guarantees long-term, balanced rewards, preventing the decline observed in conventional Play-to-Earn models.

Efe Kucuk, Head of Gaming at Trilitech stated:

“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.”

Sugar Match’s Etherlink debut coincides with the Tezos Layer-2 ecosystem’s explosive growth. Sugar Match players will benefit from Etherlink’s quick transaction speeds and inexpensive fees in addition to the Tezos L1’s inherited security and decentralized governance approach.

Mitev concluded:

“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.”

Players may use their native token, CNDY, to monetise their gaming experience as Sugarverse builds a unique Game Saga with five integrated mobile casual games and a self-sustaining Play & Earn economy.