NFT platform Nifty Gateway ceases operation in February 2026

The era of Nifty Gateway is coming to an end. The NFT trading platform operated by Gemini will cease operations on February 23, 2026, and has activated the withdrawal-only mode effective immediately. Users have one month to withdraw their NFTs and funds. The decision marks the end of a significant chapter in the history of the digital art market and raises questions about the future of the entire NFT ecosystem.

From Market Leader to Retreat: Nifty Gateway’s Turbulent History

Nifty Gateway is one of the oldest NFT trading platforms and played a central role during the 2021 digital art boom. The platform succeeded in making cryptocurrencies and digital collectibles accessible to a broader audience – a remarkable achievement in a niche that was still highly tech-savvy at the time. Through curated “Drops” with prominent artists like Beeple and Grimes, as well as acceptance of credit card payments, Nifty Gateway distinguished itself from other marketplaces. At the peak of its activity in mid-2021, the platform processed over $300 million in sales – an impressive milestone reflecting the then-current momentum of the NFT market.

But times changed. In April 2024, the company decided to reconsider its strategy. Nifty Gateway was renamed as a standalone marketplace and shifted focus to developing on-chain creative projects in collaboration with artists and brands. This pivot already indicated the difficulties faced by the NFT sector.

NFT Market in Free Fall: From Rave to Reality

The closure of Nifty Gateway must be viewed against the backdrop of the collapsing NFT market. In 2022, just one year after the peak, the total market capitalization of the NFT sector reached $17 billion – but soon after, a long-lasting bear market followed. The euphoria of the early years disappeared as quickly as it arrived. Today, the market capitalization of the NFT market is only $2.8 billion, representing a decline of about 84 percent in just a few years. This collapse made it impossible for many platforms to remain profitable.

Gemini Focuses on the Super-App Strategy

The parent company Gemini sees the closure of Nifty Gateway as a strategic necessity. The company announced that it will now focus on building a “One-Stop Super-App” – a comprehensive platform that consolidates all financial services in one place. NFTs will not be completely abandoned: Gemini will continue supporting NFT transactions via the Gemini Wallet, but without a dedicated marketplace. This strategy signals a shift away from specialized NFT services toward integrated solutions.

One Month to Act: What Users Need to Know

Active users of Nifty Gateway now enter the settlement phase. In withdrawal-only mode, users can transfer their remaining NFTs and funds from the system until February 23, 2026. Funds can be withdrawn either through a linked Gemini Exchange account or via Stripe to a bank account. Despite the clear deadline, it remains an administrative burden for users who need to store their digital assets elsewhere.

The closure of Nifty Gateway is a symptom of the maturation of the NFT market – no longer driven solely by speculation, but by real utility and long-term use cases. Whether the NFT sector will survive this consolidation phase remains an open question.