@manlier06

NFTs have driven significant demand for Ethereum, as most NFTs are built and traded on its network using ERC-721 and ERC-1155 standards. This increased usage of Ethereum for minting, buying, and selling NFTs has led to higher gas fees, making the network more active but also more costly for regular transactions. The boom in NFTs has contributed to Ethereum's adoption and network congestion, pushing further development of Layer 2 solutions to reduce fees. As the NFT market expands, other smart contract platforms like Solana and Flow have also gained traction, positioning themselves as alternatives to Ethereum’s high fees, leading to increased competition in the smart contract ecosystem.

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