The crypto world just witnessed one of the fastest and most significant funding rounds in history. MegaLabs, the team behind MegaETH, raised $10 million in under three minutes using Cobie’s Echo platform. This event didn’t just break records — it signaled a shift in how blockchain projects are funded, prioritizing community ownership over venture capital.

How MegaLabs Raised $10M in Record Time

MegaLabs initially set out to raise $4.2 million, expecting strong demand. What happened next exceeded all expectations.

• 56 seconds after launch, the round hit its original target.

• Seeing overwhelming demand, MegaLabs decided to increase the round by an additional $5.8 million.

• 70 seconds later, the entire $10 million was fully funded.

In total, 3,200 investors from 94 countries participated, with an average investment of $3,140. More than 5,000 people attempted to invest in the first three minutes, but many missed out due to the rapid sell-out.

• Jordan Fish, better known as Cobie, the creator of Echo, put it bluntly:

“MegaETH sold out $10 million on Echo within moments. It was previously one of the most requested projects, and in real-time, it was the highest demand we have ever seen. If you didn’t fund within the first 55 seconds, then you missed out.”

This was Echo’s largest sale to date, proving that community funding rounds are gaining momentum as a preferred method for raising capital in the crypto space.

Why MegaLabs Chose a Community-First Approach

The structure of the round was significant. Instead of relying on traditional venture capital, MegaLabs offered equity plus token warrants, the same structure as their $20 million seed round in June. Both rounds were conducted at the same 9-figure valuation (at least $100 million).

• According to MegaLabs co-founder Shuyao Kong, this decision was intentional:

“Crypto has long been plagued by high insider supply and limited community involvement. At MegaLabs, we’re committed to ensuring the community has real skin in the game. We are essentially following Ethereum’s footsteps by prioritizing community ownership.”

This approach contrasts with the VC-dominated funding models that have often led to high insider allocations and limited access for retail investors. MegaLabs is betting on decentralization, transparency, and fair distribution, aligning with Ethereum’s ethos of giving power back to the people.

What is MegaETH and Why is It Important?

MegaETH isn’t just another blockchain. It’s designed to be the first real-time blockchain with full Ethereum compatibility.

Here’s what sets MegaETH apart:

• Real-Time Transactions: Unlike traditional blockchains where transactions wait in a mempool, MegaETH processes transactions instantly upon receipt and publishes updates in real time.

• Ethereum Compatibility: Developers building on Ethereum can easily transition to MegaETH without learning new programming languages.

• Scalability: MegaETH aims to eliminate network congestion and lower gas fees while maintaining security.

Currently in private testnet, MegaETH plans to launch public testnet and mainnet soon. The funds raised in this round will be used to accelerate ecosystem growth, expand community initiatives, and support early-stage projects building on MegaETH.

The Rise of Community-Led Crypto Funding

MegaLabs’ success isn’t an isolated case. It’s part of a broader trend of community-driven funding rounds replacing traditional VC-backed raises.

• Echo has helped projects raise over $40 million so far.

• Other platforms like Legion and BuidlPad have emerged, offering alternative ways for crypto projects to secure funding.

• Community-first projects like Hyperliquid have shown that crypto can thrive without venture capital.

The demand for fairer token launches, decentralized ownership, and transparent funding mechanisms is stronger than ever. MegaLabs’ record-breaking raise proves that the future of crypto funding is shifting toward grassroots participation rather than elite investor dominance.

What’s Next for MegaLabs?

With $10 million raised, MegaLabs is moving full speed ahead toward MegaETH’s mainnet launch. The team is focused on:

• Growing the developer ecosystem with grants and incentives.

• Building partnerships to integrate MegaETH across DeFi, gaming, and infrastructure projects.

• Ensuring long-term decentralization by giving the community a say in governance.

This isn’t just another funding round. It’s a statement. MegaLabs is proving that crypto’s future belongs to the community, not just insiders.

The record-breaking raise of MegaLabs shows that crypto is entering a new phase — one where projects prioritize fair launches, broad participation, and decentralized governance.

With MegaETH’s real-time blockchain technology, its Ethereum compatibility, and its commitment to community-driven funding, MegaLabs is positioning itself as one of the most exciting projects in Web3.

And if this funding round is any indication, the crypto community is ready to back projects that put them first.