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.

Magic Eden's multi-chain strategy indeed sets it apart in the NFT space. Embracing multiple blockchains can offer more flexibility and resilience in volatile market conditions. This approach not only attracts a diverse user base but also increases institutional interest, potentially leading to higher valuation. It will be interesting to see how this strategy plays out in the long term.