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$ETH Vitalik Buterin calls out in favor of new blockchain MegaETH as it raises $20M at '9-digit' token valuation
MegaLabs is the developer of a new blockchain called MegaETH, has successfully raised $20 million in a seed funding round.
MegaLabs raised funding for its seed round last December and closed it in May, co-founder and chief business officer Shuyao Kong told The Block. The round was structured as equity plus token warrants and brought the fully diluted valuation of MegaETH tokens to a “9-digit” amount, Kong said, meaning at least $100 million.