MegaETH closes Mega Mafia accelerator: ecosystem loses startups
The L2 project MegaETH officially announces the termination of its accelerator Mega Mafia. After two years of active operation, the program will not launch a new cohort of participants. This decision was announced by the project's co-founder, Shuyao Kong.
Key Figures and Results
During its existence, the accelerator supported about 20 teams. The total amount of funding they raised was approximately $80 million. However, according to Kong, most of the most successful applications have already left the MegaETH ecosystem.
Strategic Shift
The project team decided to focus efforts on developing their own products. This means that MegaETH is abandoning the external incubator model in favor of internal development. Essentially, this is an acknowledgment that the ecosystem failed to retain talented startups, which preferred independence or moved to competitors.
Analytical Perspective
The closure of Mega Mafia is a warning signal for the L2 sector. When an accelerator that attracted $80 million into startups cannot keep them within its orbit, it indicates fundamental problems with liquidity, user base, or technical infrastructure. MegaETH is likely betting on vertical integration, but without a strong developer ecosystem, this path may be more challenging than it seems.