Nifty Gateway Will Close, Legendary NFT Trading Platform of the 2021 Era Finally Ceases Operations

One of the oldest and most influential NFT marketplaces in digital art history will close its doors on February 23, 2026. Nifty Gateway, which once was at the heart of the NFT revolution in the early 2020s, has entered an exclusive withdrawal phase since the beginning of February this year, giving users one month to transfer their digital assets and balances from the platform.

This platform, which initially facilitated transactions worth over $300 million during its peak in mid-2021, now faces a fate long anticipated by many industry observers. The decision to shut down is part of a strategic restructuring that began in April 2024, when parent company Gemini decided to shift Nifty Gateway’s focus from conventional marketplace operations to the development of blockchain-based creative projects.

What is NFT and Nifty Gateway’s Role in Market History

Nifty Gateway is a platform that simplifies the purchase of non-fungible digital collections (NFTs) for mainstream audiences by streamlining the transaction process. NFTs are unique digital assets verified through blockchain technology, enabling exclusive ownership of artworks, media, and other digital collectibles. The platform became a pioneer in bringing NFTs to a broader market with innovative features such as credit card payments—an uncommon feature at the time when most transactions still used cryptocurrencies.

Nifty Gateway is well known for hosting exclusive collaborations with renowned artists like Beeple and Grimes, as well as organizing curated “drops” that generated significant excitement within the digital collector community. The accessibility offered by this platform played a crucial role in democratizing digital art during the NFT boom of 2021.

Closure Plans and User Transition Process

Nifty Gateway users have until February 23, 2026, to complete their asset withdrawals. Withdrawal processes can be carried out through several channels, including transfers to connected Gemini Exchange accounts or directly to bank accounts via the payment processor Stripe.

The platform has displayed an official notice of closure on its homepage, ensuring all active users are informed about deadlines and procedures to follow. This one-month period provides ample time for the community to organize their asset transfers before the service is fully discontinued.

From $300 Million in Sales to NFT Market Contraction

The decline of the NFT industry is clearly reflected in Nifty Gateway’s journey. At its peak in 2021, the platform facilitated sales exceeding $300 million, reflecting market mania and global enthusiasm for digital asset ownership. However, the NFT market landscape has changed drastically since then.

NFT market capitalization reached a peak valuation of $17 billion in early 2022, but has since experienced a consistent and ongoing decline. Recent data shows that NFT market cap is now around $2.8 billion—a contraction that reflects the waning of speculative interest and a recalibration of investor expectations for this digital asset segment. The closure of Nifty Gateway can be seen as a symbolic marker of the bygone era of euphoria.

Gemini Shifts Strategy and Commitment to NFTs

The closure of Nifty Gateway is part of Gemini’s broader vision to build a “super app” that integrates various digital financial services within a single ecosystem. Gemini’s management emphasizes that this decision allows the company to concentrate resources and focus on developing their parent platform.

Nevertheless, Gemini affirms its ongoing commitment to the NFT ecosystem through Gemini Wallet, which will continue to provide infrastructure for users wishing to interact with non-fungible digital assets. This strategy signifies a shift from operating a dedicated marketplace to offering wallet tools and infrastructure support for a broader NFT ecosystem.

The closure of Nifty Gateway marks the end of an era for one of the pioneering NFT marketplaces, but discussions about the future of NFTs and digital asset trading platforms continue to evolve in this dynamic industry.