MegaETH ecosystem MNX launched, introducing futures for private AI companies such as OpenAI

The cryptocurrency exchange MNX, developed by the prediction market platform Manifold Markets, officially launched on Tuesday, introducing futures contracts linked to the valuations of private AI companies such as OpenAI, Anthropic, DeepSeek, and Moonshot. The platform is built on the MegaETH blockchain and completed a $6.4 million funding round in June, led by Village Global.

Compared to existing products from OKX and Bitget, MNX's contracts expire at the end of 2027 and do not charge periodic funding rates; the perpetual contracts offered by Bitget and OKX have no expiration date. Max Killberg from Village Global stated that AI is driving one of the largest investment cycles in history, but the financial infrastructure surrounding it remains quite underdeveloped. The organization aims to build financial markets around AI rather than just betting on another prediction market.

Stephen Gruggett, co-founder of Manifold Markets, mentioned that MNX's model is more suitable for private companies like OpenAI and Anthropic, which have infrequent equity trades and are difficult to price. Traders can use up to three times leverage, with prices determined by trading activity on the MNX platform rather than external price sources. If a company is still not listed when the contract expires, the exchange will use public valuations from funding rounds, investment funds, or the secondary market; MNX currently does not serve U.S. clients but plans to obtain the necessary licenses and intends to launch markets covering a broader range of the AI economy, including company revenue, employment, housing, AI supply chains, and computing power.