Nifty Gateway, a non-fungible token (NFT) trading platform that was at the heart of 2021’s digital art boom, will shut down on February 23, 2026.
According to an announcement from the company, effective immediately, the platform has entered withdrawal-only mode, giving users a month to transfer any NFTs or funds still on the site. The website also displays a closure notice on its homepage. Users can withdraw funds from the platform through a connected Gemini Exchange account, or to a bank through Stripe.
The platform owned by Gemini helps bring digital collectibles to a wider audience by simplifying NFT purchases. It is one of the oldest NFT trading platforms and hosts carefully curated “drops” with artists such as Beeple and Grimes, and accepts credit card payments, a rarity in the cryptocurrency’s native market.
At its peak in mid-2021, Nifty Gateway’s sales exceeded $300 million. But in April 2024, the company abandoned its market operations and changed its name to Nifty Gateway Studio.
The focus shifts to working with brands and artists to build on-chain creative projects.
“This decision will allow Gemini to sharpen its focus and execute on its vision of building a one-stop super app for customers,” Gemini, the marketplace’s parent company, wrote in a blog post. “We will continue to support NFTs through the Gemini Wallet.”
The market value of the NFT market reached $17 billion in early 2022, but has been in a lengthy bear market since then. Its current market capitalization is US$2.8 billion.
Read more: The founder of Gemini-owned NFT marketplace Nifty Exchange is leaving the company
