Cointelegraph’s Brian Newar spoke with Alex Svanevik, CEO of blockchain data firm Nansen, at the Korea Blockchain Week (KBW) 2022 held in Seoul. and discuss topics such as the upcoming Ethereum (Merge and how it affects other blockchains).
According to Svanevik, the industry has seen an overwhelming impact during the last bull run. He said that in NFT token trading, newcomers in the blockchain space do not want to pay huge transaction fees of $100 to buy NFTs on the Ethereum network, the Nansen CEO noted. The demand for this NFT extends to other blockchains where the fees for purchasing NFTs are not as high as those in Ethereum.
“It will be interesting to see how much of these other things will maintain demand. Because if most of the impact on fees You will probably be using much less.”
When asked what he thinks will happen to other blockchains after the Merge is complete, the executive said that many projects could fail. But I think there will be some chains that will find their own way,” Svanevik said.
However, Svanevik believes there are some networks that can bootstrap its own ecosystem, with Nansen CEO pointing to Solana (SOL), Polygon (MATIC) and Avalanche (AVAX). There are more and more networks with infrastructure that make it easy for developers to enter their ecosystem.
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