Nifty Gateway, the non-fungible token (NFT) exchange that was once at the heart of 2021’s digital art boom, will shut down on February 23, 2026.
Effective immediately, the platform has gone into withdrawal-only mode, giving users one month to move any NFTs or funds still on the site, according to a company announcement. The website also displays a notice of closure on its home page. Users can withdraw their funds from the platform via a connected Gemini Exchange account or to their bank via Stripe.
The Gemini-owned platform has helped bring digital collectibles to a wider audience by simplifying NFT purchases. It was one of the oldest NFT trading platforms and hosted curated drops with artists like Beeple and Grimes, and accepted credit card payments, a rarity in a crypto-native market.
At its peak in mid-2021, Nifty Gateway had generated over $300 million in sales. But in April 2024, the company moved away from market operations and renamed itself Nifty Gateway Studio.
The focus has shifted to building on-chain creative projects in partnership with brands and artists.
“This move will allow Gemini to further focus and realize its vision of creating a unique super app for customers,” the marketplace’s parent company, Gemini, wrote in a blog post. “We will continue to support NFTs through the Gemini Wallet.”
The NFT market reached a market capitalization of $17 billion in early 2022, but has since been in a long-term bear market. Its current market capitalization now stands at $2.8 billion.
Read more: Founders of Gemini-owned NFT marketplace Nifty Exchange leave the company
