MegaETH ends Mega Mafia accelerator program as most successful apps depart

MegaETH is discontinuing its Mega Mafia accelerator program after two years, as most successful applications are no longer being developed on its platform. Shuyao Kong from the MegaETH team stated that the program, which incubated around 20 projects raising approximately 80000000 dollars in funding, was based on outdated assumptions. MegaETH did not take equity or governance positions in these startups to align with its long-term goals. Notable projects like Global Token Exchange (GTE) and Noise have opted to build independently, with GTE raising 25000000 dollars and Noise launching on Base after securing 7100000 dollars in seed funding. MegaETH plans to shift focus towards first-party applications, aiming to establish direct relationships with end users and enhance accountability.