Nifty Gateway confirmed on Saturday, January 24, that it will shut down its NFT marketplace on February 23, 2026, immediately placing the platform into withdrawal-only mode for all users.
The decision marks the end of one of the most recognizable platforms from the NFT boom and reflects continued contraction across the digital collectibles market.
The company has announced that there will be no new trading or marketplace activities from now on. For those with USD balances, ETH, and NFT holdings, a direct email with steps on how to make a withdrawal will be sent to them.
Nifty Gateway was introduced in 2020 with the aim of bringing digital art to the broader audience by using curated NFT drops and providing easier ways for people to buy these items using their credit cards. This has been helpful in bringing more people on board during the time of the increased popularity of NFTs.
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Gemini had purchased the company in 2019. They offered regulatory compliance, custody services, and security through Gemini Custody. With the support of the Winklevoss brothers’ exchange, the marketplace claimed to be a trusted platform during the period when the market for NFTs was at an all-time high in 2021.
Nifty Gateway, at its peak, saw high-profile artist and brand collaborations that helped to legitimize NFTs as a new digital asset class. However, volumes on Nifty Gateway and other platforms have fallen dramatically as the overall NFT market lost steam.
The industry also faced challenges from declining asset prices, security threats, and regulatory pressures in the US and Europe.
Nifty Gateway, a well-known NFT marketplace, faced a highly publicized account breach in 2021, which contributed to a decline in users’ confidence. The prolonged contraction in the market also made it difficult to maintain a standalone NFT marketplace.
This shutdown is part of a larger unwinding that is currently being felt across the NFT market. Since 2021, many NFT marketplaces have either shut down, consolidated, or changed their model to move away from a traditional trading model. This is because many brands and projects have reduced their involvement with NFTs due to reduced revenues.
Now, attention shifts to Nifty Gateway Studio, Gemini’s Web3 creative arm, which was formed in 2024. While a series of hires in this space in recent times indicated that this project was still in active development, Gemini has yet to clarify if this will continue as a functioning part of Gemini or if restructuring will take place.
From the user’s side, the key action remains the withdrawal of funds before the deadline set for February 23rd, 2026. After this date, the marketplace operations will be closed by Nifty Gateway, ending an important period in the history of the NFTs.
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