Sugarverse Secures $1 Million in Funding, Confirms Sugar Match's Launch on Tezos' L2 Etherlink

Sugarverse, a new-gen gaming studio focused on creating sustainable and rewarding in-game economies, has accomplished a major milestone by successfully completing a $1 million funding round. The team is excited to confirm the upcoming launch of its flagship product on Tezos' L2 Etherlink.

Sugarverse raises $1 million funding, announces release of Sugar Match on Etherlink

Sugarverse, an innovative Web3 game development studio, has shared the details of its latest fundraising effort. The company has completed a $1 million funding campaign, it said in a statement today, on March 14, 2025.

All the funds secured will fuel the release of Sugar Match, the platform's flagship gaming product. Sugar Match is set to debut this summer on Etherlink, a high-performant L2 on Tezos.

The Web3 gaming space has seen rapid growth but also faces major challenges, particularly in the sustainability of in-game economies.

Having launched more than 10 successful Web2 games, collectively boasting a player base exceeding 60 million people, Sugarverse is leveraging its extensive experience in mobile gaming and implementing a model that ensures fair and continuous rewards for players.

Nikolay Mitev, cofounder and CEO of Sugarverse, is excited by the mission ahead of his company for 2025 and the milestones it has already accomplished:

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.

Sugar Match will be the first game to release following Sugarverse’s transition to become a Web3 studio and the first in a five-game saga of mobile casual Web3 games designed to bridge the gap between traditional gaming and Web3.

Toward better engagement and sustainable rewards model

Efe Kucuk, Head of Gaming at Trilitech, stresses that the new game is set to be released with a unique combination of fun and useful features:

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.

Sugarverse prioritizes fun and engagement with a high-quality game design and data-driven optimization, unlike many Web3 games that focus solely on blockchain mechanics.

Players can start instantly in guest mode, easing into Web3 features gradually for a smooth transition and higher adoption

Inspired by online poker, Sugarverse’s economy ensures long-term, balanced rewards, avoiding the decline seen in traditional play-to-earn models.