Nifty Gateway, one of the oldest and most prominent NFT trading platforms, will permanently shut down its marketplace operations on February 23, 2026. The platform, acquired by the Gemini cryptocurrency exchange in 2019, has immediately entered a "withdrawal-only" mode, giving users one month to move their assets off the platform.
The announcement marks the end of a platform that was central to the 2021 digital art and NFT boom. At its peak in mid-2021, Nifty Gateway facilitated over $300 million in sales, hosting curated drops with high-profile artists like Beeple and Grimes. It distinguished itself by simplifying NFT purchases for a mainstream audience, accepting credit card and fiat payments—a rarity in the crypto-native market at the time.
The shutdown reflects the prolonged bear market in the NFT sector. The overall NFT market capitalization, which reached approximately $17 billion in early 2022, has since collapsed to around $2.8 billion. Nifty Gateway itself had already begun pivoting away from a pure marketplace model in April 2024, rebranding to Nifty Gateway Studio (NGS) to focus on building on-chain creative projects in partnership with brands and artists.
In a blog post, parent company Gemini stated the decision "will allow Gemini to sharpen its focus and execute on the vision of building a one-stop super app for customers." The exchange confirmed it will continue to support NFTs via the Gemini wallet. The future of the Nifty Gateway Studio creative arm remains unclear, with the announcement providing no specific guidance on whether it will continue operating independently or be wound down.
Users are urged to withdraw all USD, ETH, and NFT holdings before the February deadline. Assets can be moved to a connected Gemini Exchange account or to a bank via Stripe. The platform's closure follows other high-profile retreats from the NFT space, including Nike's shutdown of its RTFKT Web3 operations in January 2025.
