MegaETH Foundation rebrands to MEGA… allocates $30 million to new products

The foundation behind Ethereum layer-2 network MegaETH has rebranded itself as MEGA and allocated $30 million from its existing treasury—not from newly raised capital—to build new products, starting with an AI inference marketplace for developers targeted for a December launch. The network itself retains the MegaETH name, while MEGA also serves as the project's token. All new products are planned to run on MegaETH, marking a shift from the foundation's earlier focus on backing third-party builders toward in-house consumer applications. The move matters as it signals the foundation is deploying its own balance sheet to seed demand on the young L2 rather than relying solely on external teams. What to watch next is whether the December AI product ships on schedule and whether the spending draws builders and activity onto MegaETH.