Earlier this month, Pinata, the NFT media company known across the industry as a prominent leader in NFT storage and management, announced the release of their newest product feature dubbed ‘Submarining.’
The Block Research was commissioned by Algorand to create Layer-1 Platforms: A Framework for comparison, which provides a “look under the hood” at seven platforms: Algorand, Avalanche, Binance Smart Chain, Cosmos, Ethereum/Ethereum 2.0, Polkadot, and Solana.
We assess their technical design, related ecosystem data, and qualitative factors such as key ecosystem members to get an understanding of how they differ. Having done this analysis, we draw some insights for what the future of the broader smart contract landscape could look like for years to come.
While many considered highly-priced NFTs such as Bored Apes Yacht Club (BAYC) could be sound investments with decent returns, the lack of a proper pricing mechanism for NFTs could hamper the long-term development of the space. The absence of reference pricing may be a barrier to entry for investors.