Nifty Gateway, the non-fungible token (NFT) trading platform once central to the 2021 digital art boom, will shut down on February 23, 2026.
Effective immediately, the platform has entered withdrawal mode, giving users one month to move any NFTs or funds still on the site, according to a statement from the company. The website also displays a notice of closure on its homepage. Users can withdraw their funds from the platform through a connected Gemini Exchange account or to their bank via Stripe.
The Gemini-owned platform helped bring digital collectibles to a wider audience by simplifying NFT purchases. It was one of the oldest NFT trading platforms and hosted curated “drops” featuring artists like Beeple and Grimes, and accepted credit card payments, a rarity in a crypto-native market.
At its peak in mid-2021, Nifty Gateway had facilitated over $300 million in sales. However, in April 2024, the company shifted away from marketplace operations and rebranded as Nifty Gateway Studio.
The focus shifted towards building onchain creative projects in partnership with brands and artists.
“This decision will allow Gemini to sharpen its focus and execute on the vision of building a one-stop super app for customers,” the marketplace’s parent company, Gemini, wrote in a blog post. “We will continue to support NFTs via the Gemini Wallet.”
The NFT market reached a market cap of $17 billion in early 2022, but has since been in a long, drawn-out bear market. Its current market cap now stands at $2.8 billion.
Read more: Founders of Gemini-owned NFT Marketplace Nifty Exchange exit company
