The most recent ETHDenver convention, which bought underway earlier this week, has been depicted as a post-apocalyptic wasteland of crumbling cubicles and discarded convention swag in a brand new portray by famend NFT artist Beeple.
Ethereum has declined 29% over the previous 12 months, costing traders over $90 billion in market capitalization.
In an effort to convey the sheer scale of the collapse, Beeple, who’s one of many highest-earning NFT creators in historical past, has created a nightmarish scene that imagines a decrepit venue stacked with trash, pigeons, stray canines, and destitute attendees.
Tattered indicators grasp from the ceiling and trash bins are stuffed with nugatory merchandise from prior campaigns like DeFi Summer time, NFTs, and memecoins.
The picture instantly resonated on Crypto Twitter and spurred customers to put up their very own wasteland jokes. One likened ETHDenver to Skid Row, a well-known homeless space of downtown Los Angeles.
ETHDenver stats crater
Attendance on the flagship Ethereum convention, which as soon as rivaled the biggest Bitcoin convention from 2023-2024, has collapsed this yr. Certainly, ticket gross sales have dipped beneath 10,000 from a earlier 25,000 excessive.
The variety of aspect occasions deliberate a month upfront, reminiscent of mixers, afterparties, and workshops, additionally fell 85% from final yr’s 668.
“I have to say that this was the internal monologue of most of the attendees at ETHDenver,” agreed one attendee.
“The show was about 1/10th the size of last year’s. Probably a lot more reminiscent of ETHDenver 2019 and not what we would have expected for ETHDenver 2026.”
“Hilarious Trump even said no ETHDenver and threw a crypto event at Mar a Lago,” famous one other observer.
The Trump household’s crypto discussion board in Palm Seashore, Florida and a White Home stablecoin assembly straight conflicted with the dates of ETHDenver 2026.
Others disagreed completely. Certainly, Jesse Pollack posted a stream of constructive updates, as did different Ethereum permabulls like David Hoffman.
A number of customers posted photographs and movies from the convention flooring underneath Beeple’s artwork to contest his characterization.
Ethereum founder Vitalik Buterin ignored the social drama completely, quietly posting technical updates. The Ethereum Basis posted its 2026 roadmap to minimal media consideration.
