The conference cancellations come amid a steep decline in NFT activity. According to CoinGecko, total NFT market capitalization has dropped roughly 68% year over year, with monthly sales falling sharply through late 2025. What was once a booming ecosystem is now recalibrating around sustainability rather than hype.

Major platforms are adapting in different ways. OpenSea has pivoted from being an NFT-only platform to a broader “trade everything” model, while others have exited or restructured entirely. Together, these moves suggest the NFT space isn’t disappearing—but it is undergoing a painful reset focused on utility, culture, and long-term survival rather than speculative growth.