The closure of Nifty Gateway marks the end of an era in the NFT market

On February 23, 2026, one of the most influential platforms in the NFT market will permanently shut down its operations. Nifty Gateway, which pioneered democratizing access to digital collectibles, has announced its closure and has entered withdrawal-only mode, giving its users thirty days to transfer their assets and funds before the final suspension.

A historic NFT market platform that revolutionized digital art

During its peak in 2021, Nifty Gateway established itself as one of the oldest and most respected platforms in the NFT market, facilitating transactions worth over $300 million. Its key differentiator was simplifying the digital asset purchasing experience for a broad audience, a revolutionary approach in a cryptocurrency-native industry. The platform hosted exclusive “drops” in collaboration with internationally renowned artists like Beeple and Grimes, in addition to accepting credit card payments, an exceptional feature at the time.

Nifty Gateway not only facilitated transactions but also played a crucial role in bringing digital art to millions around the world. It was a driving force behind the explosive rise of the NFT market between 2020 and 2021, when digital collectibles captured the imagination of investors and collectors.

Strategic shift and focus towards Gemini Wallet

In April 2024, Gemini, the parent company of Nifty Gateway, decided to completely reorient the platform. The non-fungible token market had shown clear signs of exhaustion, and the company’s strategy shifted towards creating on-chain creative projects in collaboration with brands and artists, under the new identity of Nifty Gateway Studio.

This transformation reflected the reality of the NFT market: initial enthusiasm had significantly waned. Now, Gemini aims to solidify its global presence through a “comprehensive super app” that unifies all its services. Users will continue to interact with digital assets via Gemini Wallet, which will remain the company’s main vehicle for the NFT ecosystem.

How the NFT market context led to the closure

The decline of the NFT market has been dramatic. In early 2022, the sector reached a market capitalization of $17 billion, positioning it as one of the most promising categories in crypto. However, four years later, that capitalization has plummeted to just $2.8 billion, reflecting a prolonged bear market.

This context explains Gemini’s decision to close Nifty Gateway. The platform simply could not compete in a contracted market where transaction volume had fragmented among multiple competitors. The closure allows Gemini to concentrate resources and energy on developing more integrated and profitable solutions.

Users have until February 23 to withdraw their funds. They can do so through an account linked to Gemini Exchange or directly to their bank via Stripe, providing flexible options to recover their assets.

The closure of Nifty Gateway marks a symbolic milestone: it signifies the end of an era of platforms exclusively dedicated to the NFT market. The future of digital assets, according to Gemini and other institutions, lies in integrating them into broader and more diversified ecosystems, not in platforms dedicated solely to the NFT market.