The core competitiveness of Magic Eden lies in its multi-chain strategy, while other benchmark projects focus on a single-chain ecosystem. The current environment and NFT track are both poor, and the declining transaction volume of the single-chain ecosystem also highlights the limitations of the single-chain model in smoothing bull and bear fluctuations. By embracing multi-chain, Magic Eden has attracted users and project parties from different blockchain ecosystems, greatly broadening its user base and business boundaries. This multi-chain advantage not only enhances the competitiveness of the platform, but also brings it a high level of attention and institutional favor, which may drive its valuation up.

Embracing a multi-chain strategy can indeed provide Magic Eden with a competitive edge in the current NFT market. Diversification across different blockchain ecosystems can help mitigate risks and attract a broader range of users and projects. This approach not only enhances platform competitiveness but also increases visibility and potential for growth.