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Sofia, Bulgaria, March 14, 2025 - Sugarverse, the innovative gaming studio dedicated to creating sustainable and rewarding in-game economies, has achieved a major milestone by successfully closing a $1 million USD funding round. Funds raised during the round will be used by Sugarverse to continue its mission of revolutionizing blockchain gaming by developing games that reward loyal players via a unique sustainable rewards model. The studio also announced today that the first of its upcoming mobile casual Web3 games, Sugar Match, will launch on the Tezos Layer-2, Etherlink, this summer. 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. “Our goal is to create a game economy that doesn’t just reward early adopters but provides long-term value for all players,” said Nikolay Mitev, Co-Founder and CEO of Sugarverse. “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. “Mobile gaming is the fastest-growing sector, and we believe Web3 games should be accessible and easy to play,” Mitev added. “Our approach minimizes barriers to entry, allowing players to engage first and explore the Web3 features organically.” Sugarverse’s funding will be directed toward addressing three key challenges in Web3 gaming: Enhanced Gameplay & Engagement – Sugarverse prioritizes fun and engagement with high-quality game design and data-driven optimization, unlike many Web3 games that focus solely on blockchain mechanics. Seamless Onboarding – Players can start instantly with a guest mode, easing into Web3 features gradually for a smooth transition and higher adoption. Sustainable Rewards Model – Inspired by online poker, Sugarverse’s economy ensures long-term, balanced rewards, avoiding the decline 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. The launch of Sugar Match on Etherlink comes at a moment of rapid ecosystem expansion on the Tezos Layer-2. Players of Sugar Match will benefit from Etherlink’s fast transaction times and low fees, as well as the inherited security and decentralized governance model of the Tezos L1. “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,” concluded Mitev. For more updates on Sugarverse, visit https://www.sugarverse.io or join the community on https://x.com/Real_Sugarverse. About Sugarverse Sugarverse is building a unique Game Saga with 5 integrated mobile casual games with a self-sustaining Play & Earn economy, where players can monetize their gaming experience using their native token CNDY. About Etherlink Etherlink is a non-custodial, EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. Etherlink is permissionless, inherits the technology of Tezos’ Layer 1, and features a decentralized governance model, fraud proofs, and censorship resistance. https://www.etherlink.com/ About Tezos Tezos is an open-source and energy-efficient blockchain designed to empower institutions, developers, and businesses and facilitate value transfer in a digital environment. It is designed for the scalable deployment of decentralized applications. As one of the first Proof of Stake blockchains, Tezos is globally supported and valued for its strong governance, long-term upgradability, and smart contract capabilities. For more information about Tezos, visit http://www.tezos.com. Media Contact: Eoin McGinley Head of PR, Trilitech eoin.mcginley@trili.tech