Mega Matrix Raises $10 Million To Launch New Platform MarsProtocol

Key Points:

• Mega Matrix announced the completion of $10 million in private placement funding over the past 3 months (including $4.4 million in October 2022).
• Participants come from many famous people in the industry. This funding will be used for the ongoing development and optimization of the MarsProtocol PoS node deployment platform.
• Saving Digital Pte. Ltd., the company’s Singapore affiliate, will pursue its StaaS, which was originally explored by the company in Q3 2022.

Mega Matrix, a company listed on the New York Stock Exchange, announced that it had completed private placement financing of $10 million in the past three months.

The participants came from many well-known people in the industry. The financing will be used for the continuous development and optimization of its PoS node deployment platform, MarsProtocol.

The company gathered more than $10 million in total over the last three months to create its unique staking business model for digital assets. Staking as a service (StaaS) and solo staking are both components of the new business model. Saving Digital Pte. Ltd., the company’s Singapore affiliate, will pursue its StaaS, which was originally explored by the company in Q3 2022.

The company may use Solo-Staking to stake on the Ethereum (ETH) beacon chain and get rewards in ETH straight from the Ethereum protocol by using its Ethereum treasury. Through its MarsProtocol staking platform, which is geared toward both individuals and institutions, the company will run StaaS. This platform will help users participate in staking to receive ETH rewards and yield in a safer, more reliable, and more effective manner.

Additionally, Mega Matrix will issue a total of 4,314,615 shares of Common Stock at a price of $1.30 per share for an estimated $5.6 million in gross proceeds. The company has also already finished the $4.4 million private placement in October 2022.

Mega Matrix will continue to focus on third-party management service contracts for aircraft operations through its majority-owned subsidiary JetFleet.

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