If you’re a developer looking to create custom canvas applications or a product team needing a robust infinite canvas for collaborative work, tldraw is your best choice. Its polished interface, real-time collaboration, and unique features like turning sketches into working UIs make it well-suited for building dynamic, engaging applications. Just be prepared for potential costs if you intend to use it commercially without watermarks.
On the other hand, if you're part of a design team or a product designer seeking to leverage a mature design ecosystem, Figma is the way to go. Its strong collaboration features, component support, and extensive plugin library make it the industry standard for interface design. However, if you’re on a tight budget or need a truly open-source tool, Figma may not fit your needs, especially when dealing with larger teams where costs can escalate quickly.