Why was the NFT Paris Conference suddenly canceled one month before the opening? The market downturn hit harder than expected

The organization team of NFT Paris announced on January 5, 2026, that the NFT Paris and RWA Paris 2026 events scheduled for February 5-6 have been officially canceled. This marks the first interruption after four consecutive years of successful hosting.

The announcement bluntly stated the reason: “The market crash has hit us hard. Despite significantly cutting costs and working for months, we were still unable to hold the event successfully this year.”

01 The Unexpected End of an Industry Gala

The cancellation of NFT Paris was not subtle. This event, originally scheduled to take place at La Grande Halle de la Villette in Paris, was set to become one of the largest gatherings in Europe for the NFT and Web3 sectors.

It was expected to attract over 20,000 attendees, more than 400 industry speakers, and over 200 side events.

The organizing team expressed apologies to attendees and partners in the announcement: “We sincerely apologize to those who have booked flights and hotels. We understand how disappointing this is.” They also promised that all tickets would be refunded within 15 days.

02 Data Reveals a Market Winter

The sudden cancellation of the conference is a microcosm of the ongoing downturn in the NFT market. Data shows that the total NFT trading volume has declined by approximately 95% from its peak in 2021.

Even more alarming is the sharp shrinkage in the overall market cap of NFTs. According to CoinGecko, as of early January 2026, the total NFT market cap was about $2.7 billion, down 68% from the same period last year.

Recent key data points in the NFT market:

The value of top NFT series is also shrinking, with CryptoPunks’ floor price dropping to near the 2024 low, around 29 ETH.

03 Chain Reaction: From Trading Platforms to Market Structure

The downward pressure in the NFT market has triggered industry structural adjustments. Some former market leaders are shifting their business focus.

In October 2025, OpenSea announced it would transform from an “NFT marketplace” to a “platform where everything can be traded.” Another well-known platform, X2Y2, announced its closure in March of the same year and shifted towards AI.

These series of changes indicate that the NFT market is undergoing a profound adjustment from rapid growth to rational development. Although on-chain NFT creation and trading activities continue, their role as high-value digital collectibles has significantly weakened.

04 Overall Sentiment in the Crypto Market

The difficulties in the NFT market also reflect broader sentiment in the cryptocurrency market. The cautious attitude can be glimpsed from the trading prices of mainstream assets.

As of January 6, 2026, the latest prices on the Gate trading platform show Bitcoin (BTC) at $93,628.00, up 1.28% in 24 hours; Ethereum (ETH) at $3,219.83, up 2.12%.

The “Fear and Greed Index” is currently at 44 (fear), indicating a generally cautious investor sentiment. This mood undoubtedly affects capital inflows and overall valuation of high-risk digital assets like NFTs.

05 Institutional Perspectives and Future Outlook

In response to market changes, major global trading platforms are adopting different strategies. Take Gate as an example: even amid market volatility, it achieved significant growth in 2025, with nearly 50 million global users and an increase in contract market share to 10.6%, officially entering the double-digit tier.

Gate’s annual report shows that the platform is focusing on “Trading + Revenue + Web3” layout, with products like Gate Alpha, Gate Earn, and Launchpad working synergistically. The total subscription amount for Gate Earn’s Yu Coin in the year exceeded $41 billion, demonstrating that even during market fluctuations, users continue to demand stable-yield products.

Industry experts point out that the cancellation of NFT conferences can be seen as a “lagging indicator,” because the bottom of the NFT market has actually already formed. Meanwhile, on-chain trading and activity are quietly increasing, possibly signaling a new development cycle brewing.

Future Outlook

Just after the organizers issued the cancellation statement, a detail caught attention: some sponsors reported receiving notices of non-refundable payments. In contrast, ordinary attendees’ ticket refunds are clearly guaranteed.

The doors to this industry gala are temporarily closed, but the real-time prices on trading platforms are still fluctuating. On Gate’s market board, Bitcoin’s price hovers around $93,628.00. Market data shows that in the past 30 days, the most active blockchain in the NFT space has quietly shifted to Bitcoin.

In the midst of the winter, some data indicators reflect the true temperature better than industry galas under the spotlight.