On-chain NFT activity is rising, though for fun assets with relatively low valuations.
NFT Paris and RWA Paris 2026 were canceled by their organizers. The events stopped after running for four years following the late 2025 market crash.
The organizers of NFT Paris and RWA Paris 2026 canceled the events, citing the pressures of the crypto market crash. The meetup was held for four years in a row, even during the 2022-2023 bear market.
In 2025, as crypto sentiment shifted, older narratives like NFTs were affected deeply. NFTs remain near all-time lows in terms of activity and interest. RWA Paris was also canceled, despite the rising popularity of RWA
‘The market collapse hit us hard. Despite drastic cost cuts and months of trying to make it work, we couldn’t pull it off this year,’ announced the team.
Tickets will be refunded, but the organizers may not refund all sponsors, as the event was progressing until running out of funds.
The cancellation of one of the top NFT events brings more focus on the issue of failed collections and low activity.
In 2025, NFT creation continued, boosting the total number of collections. However, trading activity slowed down significantly.
NFT volumes already varied widely by chain, with Ethereum remaining the most active network for legacy collections. Ethereum still carries $2.74M in NFT activity. Other chains include Solana, Polygon, Cardano, and Immutable.
Cardano and Bitcoin collectibles have gone through more active periods, depending on the popularity of specific projects. In the past 30 days, Bitcoin briefly held the leading position as the most active chain for collectibles.
NFTs on most L2 or new L1 chains are even less active, with practically negligible volumes. OpenSea continues to carry traffic for NFTs on Base, which relies on low transaction fees and low-cost activity.
NFTs as an idea still exist and are issued side by side with tokens, as an addition to games, or as community swag. At the same time, NFTs no longer store value and are rarely resold in high-profile auctions.
Crypto Punks, Bored Apes, and Pudgy Penguins are still the top 3 NFT collections. For CryptoPunks, the price floor has fallen close to its all-time lows in 2024, at around 29 ETH.
Ape NFT are down to an all-time low floor of 5.52 ETH, while Penguins had a recovery to 5.15 ETH.
In the short term, NFTs still have price floor rallies or achieve high-value sales. Some of the NFTs are also part of treasuries and are changing hands at relatively high valuations. NFT building continues, but the market is extremely illiquid.
