Paris, France – NFT Paris, one of the largest annual crypto conferences, has announced the cancellation of its 2026 event, scheduled for February 5-6. The organizers cited a "market collapse" as the primary reason for the cancellation, marking a significant setback for the NFT community.
In a statement posted on X (formerly Twitter) on Monday, the NFT Paris team explained that despite drastic cost cuts and months of effort, they were unable to make the event financially viable. "After four editions bringing together the global Web3 community in Paris, we have to face reality: NFT Paris 2026 will not happen," the statement read. The team added, "The market collapse hit us hard".
The cancellation reflects the broader downturn in the NFT market, which has struggled to recover to its peak levels seen during the pandemic era, despite a rebound in the prices of fungible tokens like Bitcoin. Trading volumes across NFT marketplaces have plummeted approximately 95% from their highs in 2021, and the valuations of once-premium collections like Bored Ape Yacht Club and CryptoPunks have significantly decreased. This decline in market activity has led some major players, such as OpenSea, to shift their focus towards becoming general crypto aggregation platforms.
The organizers have promised to compensate ticket holders, with full refunds to be issued within 15 days. However, some vendors and sponsors claim they may not receive reimbursement due to budget constraints. Serc, the artist behind the Silhouettes generative art collection, reported receiving an email stating that NFT Paris is "unfortunately unable to offer a refund". The NFT Paris team has stated, “We will be doing all we can to close this chapter properly”.
NFT Paris had positioned itself as a cornerstone of digital culture, attracting tens of thousands of attendees, hundreds of speakers, and fostering countless connections within the Web3 community over its four-year run. The event's cancellation underscores the challenges faced by the NFT sector amid fluctuating market conditions. The cancellation of NFT Paris and RWA Paris signals a broader contraction in the digital asset space, as projects conserve capital and prioritize survival.
While the NFT market faces significant headwinds, some reports suggest that on-chain NFT activity is increasing, particularly for "fun assets" with relatively low valuations. NFT creation continued in 2025, boosting the total number of collections, even as trading activity slowed. Ethereum remains the most active network for legacy NFT collections, with other chains like Solana, Polygon, Cardano, and Immutable also hosting NFT activity.
The cancellation of NFT Paris serves as a stark reminder of the volatility and challenges within the NFT market. While the future of NFTs remains uncertain, the industry continues to evolve, with developers exploring new use cases and applications for non-fungible tokens.
