CEO of Nansen: many chains may die off after ETH Merge. During Korea Blockchain Week 2022, Nansen CEO Alex Svanevik sat down to talk about the ETH Merge, which will happen in September.
His View On The NFTs
On 8 August, Svanevik stated his view on ETH Merge and what it means for other blockchains. For NFTs, Svanevik said new people in the NFTs community tend to avoid transactions with massive transaction fees, for example, up to $100, to purchase NFTs in the Ethereum network. According to Svanevik, this spilled over to other blockchains, where new people can pay fewer transaction fees in these blockchains compared to Ethereum.
The CEO said in an interview with Cointelegraph, “It’ll be interesting to see to what extent these other ones can continue to have demand if a lot of it [was] driven by that spillover effect. You might have a lot less usage.”
His View On Other Blockchains
What is more interesting, when asked what will happen to other blockchains after ETH Merge’, Svanevik said many might die off. He stated, “Many chains will probably become a ghost town or ghost chains. But I do think that some chains will find their own niches.”
What happens to other chains after the Ethereum merge?
— Cointelegraph (@Cointelegraph) August 8, 2022
However, Svanevik is confident that some chains can create their own ecosystems. He gave Solana (SOL), Polygon (MATIC), and Avalanche (AVAX) as examples. He added that other chains have infrastructure that is not hard for developers to get into the ecosystems.
He ended his views by making a comparison between blockchains and cities. Just like cities need hospitals, law, and media, blockchains also need decentralized exchanges (DEXs), explorers, marketplaces, and others.