NFT marketplace pioneer, Nifty Gateway, comes to an end, marking the conclusion of its history.

One of the NFT platforms that led the craze in the digital art market is set to shut down its service. The pioneering NFT marketplace Nifty Gateway plans to completely cease its operations on February 23, 2026. It has already transitioned to a withdrawal-only mode, and users are given a one-month grace period. Its parent company, Gemini, has decided to shift towards a more integrated platform strategy.

Nifty Gateway Ends 23 Years of History

As one of the oldest NFT trading platforms, Nifty Gateway has contributed to popularizing digital collectibles among the general public. It hosted collaboration “drop” events with renowned artists such as Beeple and Grimes, and supported credit card payments, which is rare in the cryptocurrency industry.

Going forward, users will be able to withdraw funds either through their Gemini Exchange accounts or via bank transfers through Stripe. It is mandatory to move any remaining NFTs or funds on the site within this one-month period.

Transition from Peak of $300 Million in Transactions

Mid-2021 marked the peak of Nifty Gateway. At that time, it generated over $300 million in sales, establishing a significant presence in the industry. However, in April 2024, the company underwent a major strategic shift. It withdrew from the marketplace business and rebranded as “Nifty Gateway Studio.”

The new policy focuses on building on-chain creative projects through collaborations with brands and artists. This decision was made because Gemini, the parent company, believed it could realize its vision of creating a “one-stop super app” for customers.

The True Intent Behind Gemini’s Strategic Shift

In an official statement, Gemini commented, “This decision allows Gemini to have a clearer focus and enables the realization of our vision to build a one-stop super app.” They also explicitly stated, “NFT support will continue through Gemini Wallet.”

In other words, the NFT marketplace product will be discontinued, but NFT functionality will survive integrated within Gemini’s wallet service. This can be seen as a strategic consolidation amid the overall market maturity.

Market Cooling as Background

The entire NFT market peaked at a market cap of $17 billion in early 2022, but has since experienced a prolonged bearish trend. The current market size has shrunk to $2.8 billion, about one-sixth of its peak.

In this market environment, maintaining a single-function NFT marketplace like Nifty Gateway has become a difficult decision. It is a symbolic event reflecting the industry’s phase of reorganization and optimization.