The truth behind the cancellation of the NFT grand event: market trading volume plummeted by 95%

Europe’s largest Web3 summit, NFT Paris, announces the cancellation of its 2026 event. This is not just the disappearance of an event but a microcosm of the entire NFT market downturn. When industry flagship events are forced to abandon due to “market downturn,” it indicates that the problem has become too serious to ignore.

Why was the conference suddenly canceled

NFT Paris officially announced on January 5th that, despite significant cost reductions and months of effort, they could not continue hosting the event on February 5-6. This decision may seem sudden, but it actually reflects the market’s true difficulties.

Stark Market Data

Numbers tell all. According to the latest news, NFT trading volume has plummeted about 95% from its 2021 peak. This is not a mild correction but an almost collapse scenario. The once top-tier series Bored Ape Yacht Club (Bored Apes) has seen its valuation slashed by half.

In such a market environment, hosting a large-scale event faces obvious challenges: fewer exhibitors, reduced sponsorships, and attendees holding back. Even with cost-cutting, organizers cannot maintain basic event quality and financial balance.

Practical Concerns for Attendees

While the conference cancellation promises full refunds within 15 days, the losses for attendees go far beyond that. According to relevant information, the average ticket price is about $231.33, and VIP tickets are approximately $1,161.30. Attendees who have already booked flights and hotels cannot recover these costs through the conference refunds.

Even more embarrassing, some sponsors have received notices stating “refunds cannot be issued due to budget constraints,” sparking controversy within the community. This indicates that the chain reaction caused by the conference’s cancellation is spreading.

Industry signals of market recession

The cancellation reflects not just the difficulties of a single event but the current state of the entire NFT industry.

From Boom to Bust

2021 was the peak moment for NFTs. At that time, NFT projects were booming in funding, trading volumes hit record highs, and various events emerged endlessly. NFT Paris, as Europe’s largest Web3 summit, was gradually establishing its influence during this period.

Now, the market has completely reversed. What does a 95% drop in trading volume mean? It indicates that most participants have already exited, market liquidity is severely lacking, and actual trading demand has sharply contracted. In such a market, hosting events itself becomes a luxury.

A Barometer of Industry Confidence

The conference cancellation can be seen as a barometer of industry confidence. When even the industry’s largest event cannot continue, it shows that practitioners’ expectations for market prospects have undergone a fundamental shift. This is not temporary hesitation but a pessimistic outlook on the mid-term future.

According to the latest news, this is the first cancellation in four years of NFT Paris operations. This timing is noteworthy—it precisely reflects the complete cycle of the NFT market from peak to trough.

Broader impacts on the crypto industry

The downturn in the NFT market is not an isolated phenomenon but part of a larger market cycle.

Re-shuffling of the Event Ecosystem

When vertical sector events like NFTs face difficulties, other crypto-related events will not fare much better. This could lead to a significant reduction in crypto industry events by 2026, with attendees and sponsors becoming more cautious about their investments.

Expectations for Market Recovery

Based on historical experience, it typically takes 2-3 years for the NFT market to adjust from peak to trough. The current 95% decline in trading volume indicates that the market is still in deep correction. True recovery may require waiting for a fundamental improvement in market sentiment, which depends on macroeconomic conditions and industry innovation.

Summary

The cancellation of NFT Paris is a clear signal: the NFT market has shifted from a speculative boom to a cooling-off period. The 95% plunge in trading volume and the halving of top project valuations tell the truth.

For attendees, it is an unexpected loss. For the entire industry, it is a necessary adjustment. The real issue is not whether the conference can recover but whether the NFT market itself can find a sustainable development path. Until then, similar cancellations may continue to occur.