MegaETH Foundation has been renamed MEGA, committing to invest 30 million USD in developing new products

According to The Block, the foundation behind the Ethereum Layer 2 network MegaETH has been renamed MEGA and has committed to allocating $30 million from its existing treasury to develop new products, with the first AI inference marketplace scheduled to launch in December.

MEGA stated that all new products will run on MegaETH, and planned network upgrades such as rapid finality will also support AI inference products. Co-founder Shuyao Kong mentioned that the inference marketplace targets developers as its customer base, with specific suppliers and models to be announced at launch.

MEGA's responsibilities also include expanding the use cases of the MEGA token, and Kong stated that the team will utilize the token in possible scenarios.