MegaETH Shuts Down Mega Mafia Accelerator Program, Pivots to In-House Application Development
According to The Block, Shuyao Kong, a core team member of Ethereum scaling project MegaETH, announced on July 16 the official closure of the flagship accelerator program Mega Mafia, which operated for two years across two cohorts. The project incubated approximately 20 teams in total, cumulatively helping them raise about $80 million in financing (covering Pre-Seed to Series A), but Kong admitted "the project was built on assumptions that no longer hold true," and most successfully incubated applications are no longer building on MegaETH. Among them, flagship project GTE chose to build its own public chain, Noise shifted to Base, HelloTrade shifted to Monad, and some projects such as Avon and Valhalla have closed. Notably, MegaETH did not hold equity or governance rights in any project during the incubation process. Kong stated that MegaETH will shift resources to "first-party application" development in the future, directly establishing relationships with end users, focusing on "OMEGA"-level consumer applications that can only be realized on MegaETH.
