Crypto Conference Shake-Up: Why London is Losing Ground to Paris and Berlin

The crypto conference landscape is undergoing a significant shift. For years, London held a prominent position as a key hub for digital asset events. However, recent cancellations of major conferences signal a change in tide. Are we witnessing a power shift in the European crypto conference scene? Let’s dive into why London is losing its grip and why Paris and Berlin are emerging as the new hotspots for crypto gatherings.

London’s Crypto Conference Crown Slipping?

It’s undeniable – London’s status as a leading crypto conference destination is being challenged. Two heavyweight events, Token2049 and Blockworks’ Digital Assets Summit (DAS), have opted out of London for 2023. This is a significant blow, considering their previous success in the city:

• Token2049: Attracted a massive 2,500 attendees in London last year but will only host its Singapore event in 2023. The reasons for skipping London remain undisclosed by organizers.
• Digital Assets Summit (DAS): Previously held in both New York and London, DAS, organized by Blockworks, is relocating entirely to Washington, D.C. for its next edition in March 2020. Last year’s London event drew 600 institutional participants.

Blockworks explicitly stated their move to Washington D.C. is strategic, aiming to bridge the gap between:

• Regulators & Policymakers: The individuals shaping the future of crypto legislation.
• Crypto’s Brightest Minds: Industry leaders, innovators, and developers.

The goal? To foster a common language and understanding between these crucial groups. While disappointing for the UK crypto scene, industry experts like CryptoUK’s director of operations, Su Carpenter, believe this is a temporary setback.

“While it’s disappointing to see two of the major industry events not taking place in the UK, we are certain this is a short break and not an end to these events returning in future years,” Carpenter stated.

Why the Shift? Bear Market Realities and Budget Reprioritization

Several factors are likely contributing to this shift away from London. The prevailing bear market in crypto and a challenging global economic climate are playing a significant role. Companies are tightening their belts and re-evaluating spending.

Su Carpenter further explains this financial prudence:

“At times when organizations are having to prioritize their resources on more operational costs to ensure regulatory readiness, budgets will be repositioned differently than in previous years and surplus spend on activities like sponsorship and attendance to some of these higher cost, bigger events will most likely be a lower priority.”

Essentially, in a bear market, lavish spending on conferences, especially those with high sponsorship costs, becomes less of a priority. Companies are focusing on core operations, regulatory compliance, and weathering the economic downturn.

Paris and Berlin: The Rising Stars of Crypto Events

While London faces a temporary dip, Paris and Berlin are stepping up as vibrant alternatives. Despite the bear market, events like NFT Paris and Paris Blockchain Week have not only persisted but thrived.

Paris Blockchain Week: Defying the Bear Market

Paris Blockchain Week, in particular, showcased remarkable resilience and growth:

• Attendance Surge: Chairman Michael Amar estimated 8,500 attendees, exceeding last year’s 6,000, even amidst bear market concerns and Paris strikes. Organizers initially anticipated 10,000 attendees.
• Bull Market Vibe: The event maintained a vibrant atmosphere reminiscent of the bull market, featuring VIP dinners at the Louvre and boat parties on the Seine.
• High-Profile Speakers: Keynote talks were delivered by notable figures like Pierre Gasly and Tim Draper.

NFT Paris: A Massive Success Story

NFT Paris also demonstrated impressive numbers, with founder Alexandre Tsydenkov reporting:

• Impressive Turnout: A staggering 18,000 attendees flocked to the conference near the Eiffel Tower.
• Celebrity Endorsement: The event even featured Brigitte Macron, adding to its prestige.

Continental Europe Filling the Void?

David An, partner at Greenfield Capital, believes that the success of Paris Blockchain Week and similar European events signals a broader trend. He suggests these events can effectively compensate for the temporary absence of major London conferences.

“Since there are a number of fairly fantastic smaller events across Europe, I think, the opportunities to catch up with builders and to be part of a very busy and lively European crypto community are still there,” An stated.

However, An also points to an opportunity for new, large-scale summits that can unite the entire crypto sector on a global level.

The Power of Brand in a Competitive Event Landscape

Michael Amar of Paris Blockchain Week highlights the increasing importance of brand in the current event climate. With fewer companies willing to attend numerous conferences, the competition for attendees and sponsors is intensifying.

“Those who might attend or support six or seven conferences are back to two or three,” Amar observed.

Organizing top-tier, multi-location events is a complex and resource-intensive undertaking. Amar notes that Paris Blockchain Week is a year-round effort with a dedicated team of over 20 full-time staff. He acknowledges the challenge of managing events in multiple locations:

“Conferences trying to do two locations deserve respect because it’s a lot. To produce one week of activities takes us nine to 10 months full-time.”

Paris and Berlin’s Secret Sauce: Why They Attract Crypto Crowds

What makes Paris and Berlin so attractive to the crypto community? Amar attributes Paris’s success to a combination of factors:

• Excellent Infrastructure: Strong transport links make Paris easily accessible internationally.
• Tech Talent Hub: A thriving ecosystem of blockchain technologists.
• Web3 Unicorns: Home to successful Web3 companies like Ledger and The Sandbox, drawing international attention and talent.
• Cultural Alignment: Paris’s reputation in art, fashion, and luxury resonates strongly with the NFT and metaverse space.

Furthermore, as the U.S. increases regulatory scrutiny on crypto, many creators and startups are looking towards Europe, particularly Paris, Lisbon, and Dubai, for clearer regulatory frameworks and a more welcoming environment.

UK’s Regulatory Push and the Future of Crypto Events

The UK is actively working to establish a comprehensive crypto regulatory framework. New regulations for crypto trading and lending were announced in February, and the Treasury has proposed a framework focused on consumer protection and crypto asset issuance. CryptoUK’s Carpenter believes these efforts will bring the UK in line with other European crypto hubs.

However, recent setbacks, such as the cancellation of the Royal Mint NFT project, intended to position the UK as a crypto leader, present mixed signals.

Despite these challenges, Carpenter remains optimistic about the future of crypto events in the UK:

“As the industry here in the UK moves through our regulatory consultation period and there is more stability across the sector, we will see the return of these events, and possibly more, to the UK as we aim to take a leading global role in innovation and opportunities for crypto and digital asset businesses,” Carpenter concluded.

Conclusion: A Temporary Setback or a Paradigm Shift?

The cancellation of Token2049 and Digital Assets Summit in London is undoubtedly a setback for the UK’s crypto event scene. However, it’s crucial to view this within the broader context of the global bear market and evolving regulatory landscapes. Paris and Berlin are capitalizing on this moment, offering vibrant and successful events that are attracting the global crypto community.

Whether this is a temporary realignment or a more permanent shift remains to be seen. The UK’s ongoing regulatory efforts and its ambition to be a global crypto hub suggest a potential resurgence in the future. For now, the spotlight shines brightly on Paris and Berlin, solidifying their positions as leading destinations for crypto conferences in Europe and beyond. The crypto conference world is dynamic, and as the industry evolves, so too will the locations where its key players gather.