Ethereum Layer 2 network MegaETH Foundation rebrands and invests $30 million to develop products

The MegaETH foundation has rebranded as MEGA and committed $30 million from its existing treasury to develop new products, with the first being an AI inference marketplace scheduled to launch in December. All new products will run on the MegaETH Ethereum layer-2 network, supported by planned upgrades such as fast finality, and co-founder Shuyao Kong said the marketplace will target developers as customers, with specific suppliers and models to be disclosed at launch. MEGA will also work to expand the utility of the MEGA token, which the team intends to use across possible scenarios. The move matters as a signal that the layer-2 project is diversifying beyond core infrastructure into AI-related applications backed by a sizable treasury commitment. What to watch next is the December marketplace launch and whether the token's expanded use cases materialize.