The NFT platform Nifty Gateway will close at the end of February 2026

One of the pioneers in the digital NFT market is shutting down its operations. Nifty Gateway, a platform that once was the center of the digital art boom in 2021, will close its doors on February 23, 2026. From now on, the platform has entered a withdrawal phase, giving users approximately one month to transfer their digital assets and funds before operations cease.

Gemini, the parent company of this NFT trading platform, announced a strategic decision to shift resources and focus on building a more comprehensive “super app” for its customers. The company reaffirmed its commitment to supporting the NFT ecosystem through the Gemini Wallet digital wallet, even though the marketplace platform will be closed.

Success Story of a Once-Booming Platform

Nifty Gateway used to serve as a bridge connecting digital art with mainstream audiences. The platform simplified NFT purchases by accepting credit card payments—an uncommon feature at the time in a market primarily based on cryptocurrencies. This strategy successfully brought digital collections to a broader consumer base.

At the peak of its success in mid-2021, the platform managed NFT transactions worth over $300 million. The marketplace hosted exclusive “drops” with renowned artists like Beeple and Grimes, creating buzz and strong momentum in the digital art industry. This success made Nifty Gateway one of the oldest and most influential NFT trading platforms.

Strategic Transformation and Direction Change

However, that momentum did not last. In April 2024, Gemini shifted its operational strategy for the marketplace by rebranding it as Nifty Gateway Studio. This focus shift meant the platform would no longer operate as a conventional marketplace but instead concentrate on developing on-chain creative projects through collaborations with brands and artists.

This closure decision is a continuation of that strategy. Gemini views shutting down Nifty Gateway as a necessary step to strengthen their long-term vision. “This decision allows Gemini to sharpen its focus and execute the vision of building a comprehensive super app for customers,” the company stated in their official announcement.

Withdrawal Process for Funds and User Assets

Platform users still have until the end of February to secure their assets. Funds can be withdrawn via several channels: connected Gemini Exchange accounts, or directly to bank accounts through Stripe payment services. NFT withdrawals and digital wallet balances can also be processed during this transition period.

The Nifty Gateway website has displayed a closure notification on its homepage, ensuring that every user accessing the platform receives a clear notice about the upcoming deadline.

Market Context: From Boom to Bust

This closure reflects the vastly different market conditions for NFTs compared to the golden era of 2021-2022. In early 2022, the NFT market reached a market capitalization of $17 billion. However, since then, the industry has experienced a prolonged bearish phase.

Currently, the NFT market cap has fallen significantly to $2.8 billion—far below its peak. This situation has prompted many platforms and projects to reevaluate their business strategies, including Gemini’s decision to shut down Nifty Gateway and focus their energy on other initiatives deemed more strategic for the long term.