Yat Siu: Wealthy collectors are keeping NFTs alive despite market slump

Animoca Brands co-founder Yat Siu says wealthy crypto collectors who buy NFTs to hold — not flip — are sustaining the NFT market. Speaking at the CfC St. Moritz conference, Siu compared digital art collectors to traditional art collectors and noted that although monthly NFT sales have fallen from about $1 billion at the 2021/22 peak to roughly $300 million, five years ago the market was effectively zero. Siu revealed his personal NFT portfolio is down about 80% but reiterated his long-term holding approach. He argued 2025 showed crypto momentum was driven more by expectations than fundamentals and predicted the next crypto phase will focus on infrastructure rather than personalities. Siu also linked the late cancellation of NFT Paris to changing French regulatory sentiment and security concerns, citing scrutiny of projects like Sorare and recent kidnapping threats that deter attendance. Organizers of NFT Paris and RWA Paris cited the prolonged crypto downturn as a primary reason for cancellation and promised ticket refunds. Recent 24-hour on-chain NFT metrics noted a 27% rise in sales volume to $8.5 million and increases in buyers, sellers and transactions. Key themes: NFT market contraction, wealthy long-term collectors as demand anchors, regulatory and security headwinds in Europe, and evolving crypto fundamentals toward infrastructure.