After months of work in stealth, the foundation behind Ethereum Layer 2 MegaETH has rebranded as MEGA and committed $30 million to new products. The money comes from the existing treasury, and every new product will run on the MegaETH network.

The first is an AI inference market planned for December. Branded "Purified Intelligence", it aims to make inference from different providers more interchangeable, so more suppliers compete on price. Developers are the target customers, while specific providers and models will only be disclosed at launch.

The move comes as network activity has faded: MegaETH TVL is about $12M, down from a peak above $245M, and the MEGA token trades near $0.05, more than 76% below its all-time high. The team says its mandate includes expanding uses for the token.