Although GDC has been postponed due to Coronavirus, it seems that virtual awards will take place.
The organizers announced plans to live stream the talks which would have taken place had the conference moved forward. Thanks to submissions from many of the original speakers who had talks accepted for GDC 2020, organizers will be streaming speaker-recorded versions of the talks they would have given in person, for free all week (from 9am to 5pm PT) from March 16-20.
The press release also notes that the Independent Games Festival and Game Developers Choice Awards ceremonies will also stream virtually starting at 5pm PT (8pm ET) on Wednesday, March 18th for free on GDC's Twitch channel.
The virtual awards will be streamed as well, and will feature the same hosts (Trent Kusters for the IGF and Kim Swift for the Game Developers Choice Awards) and identical awards categories planned for the original physical event.
So there we have it. A virtual conference, at least in part, is set to move forward.