NFT News: Nifty Gateway announces closure of operations in February 2026

Cryptocurrency market news brings another chapter in the ongoing adjustment within the non-fungible token ecosystem. Nifty Gateway, one of the most influential NFT trading platforms in recent years, will cease operations on February 23, 2026. From now on, the service will operate exclusively in withdrawal mode, giving users a one-month period to withdraw their digital assets and funds.

The Closure of One of the Major NFT Trading Platforms

This decision marks the end of a significant era for the platform, which at the peak of the digital art boom in 2021, processed over US$ 300 million in transactions. Users can recover their assets in two ways: transferring to an account connected to Gemini Exchange or making direct withdrawals to bank institutions via Stripe.

The official announcement was made by Gemini, the parent company of the platform, which highlighted the importance of this transition. The platform, which distinguished itself by simplifying the experience of purchasing digital collectibles, brought notable innovations to the market, such as accepting credit card payments — a rare feature in native cryptocurrency ecosystems.

From the Peak of the NFT Market to Decline: A Trajectory of Transformation

Nifty Gateway’s history directly reflects the volatility of the NFT market as a whole. During its peak in mid-2021, NFT market capitalization reached US$ 17 billion, with the platform serving as the epicenter of collaborations with renowned artists, including Beeple and Grimes. These curated “drops” not only attracted collectors but also solidified the NFT and digital art news space.

However, the scenario changed drastically. The NFT market faces a prolonged downturn, with its market capitalization reduced to approximately US$ 2.8 billion — a decline of over 80% from previous peaks. This contraction reflects both the reduction in speculative enthusiasm and the reassessment of the true value of digital collectibles.

Gemini Repositions Strategy: From Marketplace to Super App

The closure was not a sudden decision. In April 2024, Nifty Gateway had already begun its transformation, rebranding as Nifty Gateway Studio and shifting its operations away from the traditional marketplace model. The new focus centered on creating on-chain creative projects in partnership with brands and artists.

Now, with the complete shutdown of the platform, Gemini declares its commitment to “concentrate efforts and execute the vision of building a comprehensive super app for customers.” The parent company will continue supporting the NFT ecosystem through Gemini Wallet, maintaining its presence in the segment despite discontinuing the traditional trading platform.

This strategic transition reflects a broader industry trend: specialized platforms are being integrated into larger ecosystems, where wallets and multifunctional financial tools gain prominence. Gemini’s decision to focus on a “super app” aligns with consolidation strategies observed across the digital asset market.