MegaLabs successfully concluded its seed funding round, raising $20 million for MegaETH, a new blockchain designed to enhance performance by enabling 100,000 transactions per second (TPS) and offering full Ethereum compatibility. The funding, led by Dragonfly along with other notable investors like Ethereum co-founder Vitalik Buterin, elevated MegaETH's token valuation to over $100 million. The funds will be utilized to advance MegaETH’s capabilities, focusing on high throughput and computational efficiency, and to prepare for its upcoming mainnet launch later in the year.