MegaETH, a new Ethereum Layer 2 solution backed by Vitalik Buterin, has launched a cohort of 16 projects known as the MegaMafia. These projects are designed to leverage MegaETH's capabilities, which include 10 millisecond block times and the ability to handle up to 100,000 transactions per second (TPS). The MegaMafia projects focus on building real-time applications, including high-frequency trading, on-chain gaming, and money markets. MegaETH aims to significantly enhance Ethereum's performance, drawing comparisons to Solana's block times of 400-500 milliseconds. However, the launch of MegaETH's NFT airdrop campaign faced technical issues, with users reporting difficulties in connecting wallets and minting NFTs.