Copenhagen, Denmark – The MegaMafia 2.0 program, a month-long residency for builders in the MegaETH ecosystem, has concluded in Copenhagen. The initiative, spearheaded by MegaETH Labs co-founder Shuyao Kong, known as "brother bing," aims to foster groundbreaking decentralized applications and experiences on the high-performance blockchain. Participants from the program are now dispersing, with some extending their stay in the Nordic capital.
MegaMafia is MegaETH's flagship accelerator, designed to bring together founders for intensive co-living and building sessions with the Mega core team and advisors. The program emphasizes an iterative development process, encouraging participants to explore new ideas and categories, often leading to significant pivots from initial concepts. Previous cohorts of MegaMafia have seen substantial success, with cohort 1.0 raising over $40 million in venture funding from prominent investors.
Reflecting on the recently concluded program, Shuyao Kong shared insights into the startup journey, stating, > "the greatest joy in a startup is to see ideas become demo, demo get destroyed by feedbacks, new ideas surface from ashes that turn into new demo." He emphasized that this "positive feedback loop brings the ultimate high" and underscores why MegaMafia offsites remain a "core pillar" of MegaETH's strategy.
MegaETH is positioned as a "real-time blockchain," striving for sub-millisecond latency and the capability to process over 100,000 transactions per second (TPS). This Layer 2 solution for Ethereum aims to bridge the performance gap between traditional Web2 applications and decentralized systems, offering a highly responsive environment for dApps. The platform has garnered significant backing, including a $20 million seed round and a $10 million community round, with support from industry figures like Vitalik Buterin and Joseph Lubin.
The program's focus on fostering "net new apps, net new experiences, net new framework, new friends" is central to MegaETH's vision for a vibrant and innovative ecosystem. By pushing for continuous innovation, MegaETH and its MegaMafia program seek to unlock new possibilities for on-chain creativity and expand the utility of blockchain technology beyond current limitations. This commitment to pioneering new solutions is critical for the platform's long-term growth and impact in the decentralized space.