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MegaETH shuts down the accelerator program Mega Mafia and pivots to developing “first-party applications”

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ME News, July 17 (UTC+8): Shuyao Kong, a core team member of MegaETH, said the flagship accelerator program Mega Mafia will be shut down after two years of operation and through two rounds. The project incubated about 20 teams in total, cumulatively helping them complete approximately $80 million in funding, but he admitted that “the program was built on assumptions that no longer hold,” and that most of the successfully incubated applications are no longer being built on MegaETH. Among the flagship projects, Global Token Exchange chose to build its own chain, Noise shifted to Base, and HelloTrade shifted to Monad. Some projects such as Avon and Valhalla have already been shut down. During the incubation process, MegaETH did not hold any equity or governance rights in any projects. In the future, MegaETH will shift its resources to developing “first-party applications,” building direct relationships with end users, and focusing on consumer-side apps that can only be realized on MegaETH. (Source: Foresight News)
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