MegaETH cuts 20% of staff, pivots to AI business with $30 million investment to develop inference market.

BlockBeats news, November 14: MEGA, the organization behind the Ethereum Layer 2 network MegaETH, has laid off approximately 20% of its staff. MegaETH co-founder Shuyao Kong said on Friday that the adjustment involved employees who participated in the project's early construction, covering teams such as blockchain, wallet, ecosystem support, and communications, but did not disclose the specific number of layoffs or the implementation timeline. She emphasized that the founding team, early employees, and core engineering team will continue to advance the project.

The layoffs come amid MEGA's organizational restructuring and business transformation. The organization is shifting its focus toward new products on the MegaETH network, including AI services, and has committed $30 million to advance related business. However, Kong did not explicitly state that the layoffs are directly related to the AI strategic transformation.

According to the white paper published by the co-founder, MegaETH plans to launch an AI inference marketplace, introducing multiple AI service providers to allow users to choose different models while addressing issues such as model authenticity and transparency in user data processing. Kong said MEGA plans to launch the public version of the AI inference marketplace in December this year.