MEGAETH Plans ICO Auction Starting at $1 Million FDV
MegaETH will auction 5% of its tokens on October 27 via Echo’s Sonar platform, starting at a $1 million valuation and capped under $1 billion.
NFT
Summary
MegaETH announced it will auction 5% of its token supply on October 27 through Echo’s Sonar platform. The auction starts at a $1 million fully diluted valuation and will be capped below $1 billion. The format gives bidders valuation control, expanding on earlier presale rules that offered certain NFT holders higher purchase limits. This marks part of MegaLabs’ broader sale strategy combining presale and public auctions.
Terms & Concepts
- ICO (Initial Coin Offering): A fundraising method in which a project sells its cryptocurrency tokens to investors before the token is listed on exchanges.
- Fully Diluted Valuation (FDV): A projection of a cryptocurrency’s total market value assuming all possible tokens are in circulation.
- NFT (Non-Fungible Token): A unique digital asset stored on a blockchain, often used for collectibles, art, and granting special rights or access.