# EDGAR Filing Document

**Accession Number:** 0001953021
**File Stem:** 0001213900-26-045671
**Filing Date:** 2026-4
**Character Count:** 25908
**Document Hash:** a24e19f78cabd98d7bb615d5b6cb8120
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-26-045671.hdr.sgml**: 20260420

**ACCESSION NUMBER**: 0001213900-26-045671

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 14

**FILED AS OF DATE**: 20260420

**DATE AS OF CHANGE**: 20260420

**EFFECTIVENESS DATE**: 20260420

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Mega Matrix Inc
- **CENTRAL INDEX KEY:** 0001953021
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MOTION PICTURE & VIDEO TAPE PRODUCTION [7812]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-295194
- **FILM NUMBER:** 26875818

**BUSINESS ADDRESS:**
- **STREET 1:** 89 NEXUS WAY, CAMANA BAY
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-9009
- **BUSINESS PHONE:** 929-841-4670

**MAIL ADDRESS:**
- **STREET 1:** 89 NEXUS WAY, CAMANA BAY
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-9009

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MarsProtocol Inc.
- **DATE OF NAME CHANGE:** 20221101

As filed with the Securities and Exchange Commission on April 20, 2026

**Registration No. 333-_______**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

---

| |
|:---|
| **MEGA MATRIX INC.** |
| ***(Exact name of registrant as specified in its charter)*** |

---

---

| | |
|:---|:---|
| **Cayman Islands** | **Not Applicable** |
| *(State or other jurisdiction of<br> incorporation or organization* | *(I.R.S. Employer<br> Identification Number)* |

---

---

| | |
|:---|:---|
| **Level 21, 88 Market Street**<br> **CapitaSpring**<br> **Singapore**  | **048948** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**Mega Matrix Inc. 2025 Equity Incentive Plan**

*(Full Title of the Plan)*

**COGENCY GLOBAL INC.**

**122 East 42nd Street, 18th Floor**

**New York, NY 10168**

*(Name and Address of Agent for Service)*

**+1 (212) 947-7200**

*(Telephone number, including area code, of agent for service)*

Please send copies of all communications to:

John P. Yung, Esq.

Lewis Brisbois Bisgaard & Smith LLP

2020 West El Camino Avenue, Suite 700

Sacramento, CA 95833

916-646-8288

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☐ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed by Mega Matrix Inc. (the "Registrant") with the Securities and Exchange Commission (the "Commission") to register an additional 6,192,688 Class A ordinary shares, par value $0.001 per share ("Shares"), under the currently effective Mega Matrix Inc. 2025 Equity Incentive Plan (the "2025 Plan"), pursuant to Section 3(b) of the 2025 Plan. The Registrant previously registered 8,000,000 Shares for issuance under the 2025 Plan in a Registration Statement on Form S-8 filed with the Commission on August 19, 2025 (Registration No. 333-289715) (the "Prior Registration Statement").

Pursuant to General Instruction E of Form S-8, the contents of the above-referenced Prior Registration Statement are incorporated into this Registration Statement by reference to the extent not modified or superseded hereby or by any subsequently filed document, which is incorporated by reference herein or therein.

PART II

INFORMATION REQUIRED IN THE REGISTRATION STATEMENT

**Item 8. Exhibits**

---

| | |
|:---|:---|
| **Exhibit Number** | **Description** |
| 4.1 | [Mega Matrix Inc. 2025 Equity Incentive Plan (incorporated herein by reference to Exhibit 4.1 to the Registrant's registration statement on Form S-8 filed with the Commission on August 19, 2025).](http://www.sec.gov/Archives/edgar/data/1953021/000121390025078560/ea024083201ex4-1_mega.htm) |
| 4.2 | [Third Amended and Restated Memorandum and Articles of Association (incorporated herein by reference to Exhibit 3.1 to the Registrant's current report on Form 6-K filed with the Commission on August 15, 2025).](http://www.sec.gov/Archives/edgar/data/1953021/000121390025077536/ea025343101ex3-1_mega.htm) |
| 4.3 | [Form of Restricted Share Award Agreement (incorporated herein by reference to Exhibit 4.3 to the Registrant's registration statement on Form S-8 filed with the Commission on August 19, 2025).](http://www.sec.gov/Archives/edgar/data/1953021/000121390025078560/ea024083201ex4-3_mega.htm) |
| 4.4 | [Form of Restricted Share Unit Award Agreement (incorporated herein by reference to Exhibit 4.4 to the Registrant's registration statement on Form S-8 filed with the Commission on August 19, 2025).](http://www.sec.gov/Archives/edgar/data/1953021/000121390025078560/ea024083201ex4-4_mega.htm) |
| 5.1\* | [Opinion of Ogier, Cayman Islands counsel to the Registrant, regarding the legality of the Class A Shares being registered.](ea028487201ex5-1.htm) |
| 23.1\* | [Consent of Ogier (included in Exhibit 5.1).](ea028487201ex5-1.htm) |
| 23.2\* | [Consent of Audit Alliance LLP, Independent Registered Public Accounting Firm.](ea028487201ex23-2.htm) |
| 24.1\* | [Powers of Attorney (included in signature page hereto).](#a_001) |
| 107\* | [Filing Fee Table](ea028487201ex-fee.htm) |

---

\* Filed herewith

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in Singapore.

---

| | | |
|:---|:---|:---|
|  | **Mega Matrix Inc.,**<br> a Cayman Islands exempted company | **Mega Matrix Inc.,**<br> a Cayman Islands exempted company |
| Dated: April 20, 2026 | By: | /s/ Yucheng Hu |
|  | Name: | Yucheng Hu |
|  | Title: | Chief Executive Officer |

---

**POWER OF ATTORNEY AND SIGNATURE**

Know All Persons By These Presents, that each person whose signature appears below appoints Yucheng Hu and Carol Wang, and each of them individually, as his or her true and lawful attorney-in-fact and agent, with full power of substitution, for him or her and in his or her name, place and stead, to sign any amendment (including post-effective amendments) to this registration statement (or any other registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Commission, granting unto said attorney-in-fact and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith, as fully to all intents and purposes as he may do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or any of them, or of his substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed below by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Capacity** | **Date** |
| /s/ Yucheng Hu | Chief Executive Officer and Director | April 20, 2026 |
| Yucheng Hu | (*Principal Executive Officer*) |  |
| /s/ Jie Ma | Chief Financial Officer | April 20, 2026 |
| Jie Ma<br>| *Principal Financial Officer, and<br> Principal Accounting Officer* |  |
| /s/ Yaman Demir | Chairman of the Board of Directors | April 20, 2026 |
| Yaman Demir |  |  |
| /s/ Qin Yao | Director | April 20, 2026 |
| Qin Yao |  |  |
| /s/ Yunhao Chen | Director | April 20, 2026 |
| Yunhao Chen |  |  |

---

**SIGNATURE OF AUTHORIZED U.S. REPRESENTATIVE OF THE REGISTRANT**

Pursuant to the Securities Act of 1933, as amended, the undersigned, the duly authorized representative in the United States of Mega Matrix Inc., has signed this registration statement on April 20, 2026.

---

| |
|:---|
| /s/ Colleen A. De Vries |
| Colleen A. De Vries, |
| Senior Vice-President on behalf of Cogency Global Inc. |

---

## Exhibit 5.1

**Exhibit 5.1**

![](ea028487201_ex5-1img1.jpg)

---

| | |
|:---|:---|
| **Mega Matrix Inc.** | **D** **+852 3656 6054** |
| **Mega Matrix Inc.** | **E** **nathan.powell@ogier.com** |
| **Mega Matrix Inc.** |  |
| **Mega Matrix Inc.** | Reference: NMP/CLE/503979.00002 |

---

20 April 2026

Dear Sirs

**Mega Matrix Inc. (the Company)**

We have acted as Cayman Islands counsel to the Company in connection with the Company's registration statement on Form S-8, including all amendments or supplements thereto (the **Form S-8**), as filed with the United States Securities and Exchange Commission under the United States Securities Act of 1933, as amended (including its exhibits, the **Registration Statement**). The Registration Statement relates to the registration of an additional 6,192,688 class A ordinary shares of par value of US$0.001 each in the Company (the **ESOP Shares**) pursuant to the 2025 Equity Incentive Plan which was approved by the board of directors of the Company on 4 August 2025 (the **Plan**).

We are furnishing this opinion as Exhibit 5.1 and Exhibit 23.1 to the Form S-8.

Unless a contrary intention appears, all capitalised terms used in this opinion have the respective meanings set forth in the Documents (as defined below). A reference to a Schedule is a reference to a schedule to this opinion and the headings herein are for convenience only and do not affect the construction of this opinion.

1 Documents examined

For the purposes of giving this opinion, we have examined originals, copies, or drafts of the following documents (the **Documents**):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the certificate of incorporation of the Company dated 11 October 2022 and the certificate of incorporation
on change of name in respect of the Company dated 20 September 2023 issued by the Registrar of Companies of the Cayman Islands (the **Registrar**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the third amended and restated memorandum and articles of association of the Company as adopted by special
resolution passed on 15 August 2025 (respectively, the **Memorandum** and the **Articles**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) a certificate of good standing dated 10 April 2026 (the **Good Standing Certificate**) issued by the
Registrar in respect of the Company;

---

| | | | |
|:---|:---|:---|:---|
| **Ogier**<br> Providing advice on British Virgin Islands, Cayman Islands and Guernsey laws<br>Floor 11 Central Tower<br> 28 Queen's Road Central<br> Central<br> Hong Kong<br>T +852 3656 6000<br> F +852 3656 6001<br> **ogier.com** | **Partners** <br> Nicholas Plowman<br> Nathan Powell<br> Anthony Oakes<br> Oliver Payne<br> Kate Hodson<br> David Nelson<br> Justin Davis<br> Joanne Collett<br> Dennis Li<br> Cecilia Li | Yuki Yan<br> David Lin<br> Alan Wong<br> Janice Chu<br> Zhao Rong Ooi<br> Rachel Huang\*\*<br> Florence Chan\*<sup>‡</sup><br> Richard Bennett\*\*<sup>‡</sup><br> James Bergstrom<sup>‡</sup>  | \* admitted in New Zealand<br> \*\* admitted in England and Wales<br> <sup>‡</sup> not ordinarily resident in Hong Kong |

---

Page **2** of **4**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the register of directors of the Company dated 26 February 2026 (the **Register of Directors**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the written resolutions of the directors of the Company dated 4 August 2025 approving the Company's filing
of the Form S-8 relating to 8,000,000 shares and the adoption of the Plan and the minutes of the extraordinary general meeting of the
shareholders of the Company held on 15 August 2025 (the **EGM Minutes**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) the written resolutions of the directors of the Company dated 26 March 2026 approving the company's filing
of the Form S-8 relating to 6,192,688 class A ordinary shares (together with paragraph (e) of this paragraph 1, the **Board Resolutions**).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) a certificate dated on the date hereof as to certain matters of fact signed by a director of the Company
(the **Director's Certificate**);

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Form S-8; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) the Plan.

2 Assumptions

In giving this opinion we have relied upon the assumptions set forth in this paragraph 2 without having carried out any independent investigation or verification in respect of those assumptions:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) all original documents examined by us are authentic and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) all copy documents examined by us (whether in facsimile, electronic or other form) conform to the originals
and those originals are authentic and complete;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) all signatures, seals, dates, stamps and markings (whether on original or copy documents) are genuine;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) each of the Good Standing Certificate, the Register of Directors, the Plan and the Director's Certificate
is accurate, complete and up-to-date (as the case may be) as at the date of this opinion;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) the Memorandum and Articles provided to us are in full force and effect and have not been amended, varied,
supplemented or revoked in any respect;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(f) all copies of the Form S-8 are true and correct copies and the Form S-8 conforms in every material respect
to the latest drafts of the same produced to us and, where the Form S-8 has been provided to us in successive drafts marked-up to indicate
changes to such documents, all such changes have been so indicated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(g) the Board Resolutions remain in full force and effect and have not been, and will not be, rescinded or
amended, and each of the directors of the Company has acted in good faith with a view to the best interests of the Company and has exercised
the standard of care, diligence and skill that is required of him or her in approving the Plan and no director has a financial interest
in or other relationship to a party of the transactions contemplated by the Plan which has not been properly disclosed in the Board Resolutions;

Page **3** of **4**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(h) the Company will have sufficient authorized but unissued shares to effect the issuance of ESOP Shares
at the time of issuance;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) upon the issue of any ESOP Shares, the Company will receive consideration for the full exercise price
thereof which shall be equal to at least the par value thereof;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(j) the Company is, and after the allotment and issuance of the ESOP Shares will be, able to pay its liabilities
as they fall due; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(k) there is no provision of the law of any jurisdiction, other than the Cayman Islands, which would have
any implication in relation to the opinions expressed herein.

---

| | |
|:---|:---|
| 3 | Opinions |

---

On the basis of the examinations and assumptions referred to above and subject to the limitations and qualifications set forth in paragraph 4 below, we are of the opinion that:

**Corporate status**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The Company has been duly incorporated as an exempted company with limited liability and is validly existing
and in good standing with the Registrar.

**Authorised share capital**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The authorised share capital of the Company is USD1,110,000, divided into: (i) 1,000,000,000 class A ordinary
shares of par value USD0.001 each (the **Class A Ordinary Shares**), (ii) 50,000,000 class B ordinary shares of par value USD0.001
each (the **Class B Ordinary Shares**), (iii) 50,000,000 class C ordinary shares of par value USD0.001 each, and (iv) 10,000,000 preferred
shares of par value USD0.001 each.

**Corporate authorisation** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) The Company has taken all requisite corporate action to authorise the issuance of the ESOP Shares under
the Plan and the Form S-8.

**Valid issuance of ESOP Shares** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) The Class A Ordinary Shares to be issued by the Company in accordance with the Plan have been duly authorised
for issue and when:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) all provisions of the memorandum and articles of association of the Company then in effect, the Plan,
the applicable award agreement and the Board Resolutions have been satisfied;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) full payment of exercise price, which is not less than the par value per ESOP Share, has been received
by the Company; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) such issuance of ESOP Shares have been duly registered in the Company's register of members as fully paid
shares,

will be validly issued, fully paid and non-assessable.

Page **4** of **4**

4 Limitations and Qualifications

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 We offer no opinion:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) as to any laws other than the laws of the Cayman Islands, and we have not, for the purposes of this opinion,
made any investigation of the laws of any other jurisdiction, and we express no opinion as to the meaning, validity, or effect of references
in the Form S-8 and the Plan to statutes, rules, regulations, codes or judicial authority of any jurisdiction other than the Cayman Islands;
or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) except to the extent that this opinion expressly provides otherwise, as to the commercial terms of, or
the validity, enforceability or effect of the Form S-8 and the Plan, the accuracy of representations, the fulfilment of warranties or
conditions, the occurrence of events of default or terminating events or the existence of any conflicts or inconsistencies among the Form
S-8 and the Plan and any other agreements into which the Company may have entered or any other documents.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 Under the Companies Act (Revised) (**Companies Act**) of the Cayman Islands annual returns in respect
of the Company must be filed with the Registrar of Companies in the Cayman Islands, together with payment of annual filing fees. A failure
to file annual returns and pay annual filing fees may result in the Company being struck off the Register of Companies, following which
its assets will vest in the Financial Secretary of the Cayman Islands and will be subject to disposition or retention for the benefit
of the public of the Cayman Islands.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3 **In good standing** means only that as of the date of the Good Standing Certificate the Company is
up-to-date with the filing of its annual returns and payment of annual fees with the Registrar. We have made no enquiries into the Company's
good standing with respect to any filings or payment of fees, or both, that it may be required to make under the laws of the Cayman Islands
other than the Companies Act.

5 Governing law of this opinion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.1 This opinion is:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) governed by, and shall be construed in accordance with, the laws of the Cayman Islands;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) limited to the matters expressly stated in it; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) confined to, and given on the basis of, the laws and practice in the Cayman Islands at the date of this
opinion.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.2 Unless otherwise indicated, a reference to any specific Cayman Islands legislation is a reference to that
legislation as amended to, and as in force at, the date of this opinion.

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| | |
|:---|:---|
| 6 | Reliance |

---

We hereby consent to the filing of this opinion as an exhibit to the Form S-8.

This opinion may be used only in connection with the Form S-8 while the Plan is effective.

Yours faithfully

---

| |
|:---|
| /s/ Ogier |
| **Ogier** |

---

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated April 15, 2026, with respect to the consolidated financial statements of Mega Matrix Inc. and its subsidiaries, appearing in its Annual Report on Form 20-F for the year ended December 31, 2025.

/s/ Audit Alliance LLP

Audit Alliance LLP

Singapore

April 20, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'? Filing Fee Exhibit

**Ex-Filing Fees**

**CALCULATION OF FILING FEE TABLES**

**S-8**

**Mega Matrix Inc**

**Table 1: Newly Registered Securities**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Type** | **Security Class Title** | **Notes** | **Fee Calculation<br> Rule** | **Amount Registered** | **Proposed Maximum Offering<br> Price Per Unit** | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| Equity | Class A Ordinary Shares, par value $0.001 per share | (1) | Other | 6192688 | $0.72 | $4458735.36 | 0.0001381 | $615.75 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | $4458735.36 |  | 615.75 |
| Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: | Total Fee Offsets: |  |  | 0.00 |
| Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: | Net Fee Due: |  |  | $615.75 |

---

**__________________________________________ Offering Note(s)**

&nbsp;&nbsp;&nbsp;&nbsp;(1) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended ("Securities Act"), this Registration Statement also covers any additional securities that may be offered or issued in connection with any stock split, stock dividend or similar transaction. Pursuant to Rule 416(c) under the Securities Act, this Registration Statement shall also cover an indeterminate amount of interests to be offered or sold pursuant to the employee benefit plans described herein. Maximum Aggregate Offering Price is estimated in accordance with Rules 457(c) and (h) under the Securities Act solely for the purpose of calculating the registration fee based on the average the high and low sale price of the Registrant's Class A Ordinary Shares, par value $0.001 per share (the "Class A Shares") as reported on the NYSE American on April 16, 2026 which date is within five business days prior to the filing of this Registration Statement. Amount Registered represents the additional of 6,192,688 Class A Shares automatically added to the shares authorized for issuance under the Registrant's Mega Matrix Inc. 2025 Equity Incentive Plan pursuant to Section 3(b), an "evergreen" provision contained in such Plan, and subject to adjustment as provided for therein.