Nifty Gateway is one of the most well-known platforms that emerged from the NFT boom, but it has announced that it will officially close its marketplace on February 23, 2026.
Gemini acquired Nifty Gateway in 2019. The exchange, led by the Winklevoss twins, has also provided the infrastructure for regulation, custody, and security that supported the evolution of the NFT marketplace and the subsequent Web3 creative division 'Nifty Gateway Studio' backed by Gemini.
Nifty Gateway has transitioned to an immediate withdrawal-only mode.
From today, the platform has entered 'withdrawal-only mode', encouraging users to withdraw funds and digital assets before closure.
Nifty Gateway Studio clarified in this announcement that no transactions or new activities will take place on the platform in the future.
Today, the Nifty Gateway platform announced that it will close on February 23, 2026. From today, Nifty Gateway will enter withdrawal-only mode, the company stated.
The company added that it will send guidance emails to customers holding US dollars, Ethereum, and NFTs regarding the method of transferring their assets.
Launched around 2020, Nifty Gateway quickly became famous during the early wave of NFTs. It was characterized by curated digital art drops and user-friendliness, allowing purchases with credit cards and fiat currency.
Due to this clarity, during a period when NFTs were rapidly gaining popularity, it encouraged a wide range of users unfamiliar with cryptocurrencies to participate.
Cameron Winklevoss and Tyler Winklevoss are the founders of Gemini Exchange and acquired this platform in 2019. This positioned the platform as a leading NFT marketplace equipped with exchange-level custody and compliance infrastructure.
During the NFT boom in 2021, Nifty Gateway collaborated with numerous renowned creators and brands. It also played a role in legitimizing digital art and collectibles as a new asset class.
However, following a significant decrease in NFT trading volume and waning user interest, the platform could not regain momentum. This occurred despite a broader industry movement to redefine NFTs in relation to utility, gaming, and real-world assets. Additionally, in 2021, the network was hacked, compromising multiple accounts.
Concerns about the future of Nifty Gateway Studio due to the contraction of the NFT market.
This closure reflects a long-term contraction trend in the NFT market, with multiple marketplaces being forced to close, merge, or transition away from NFT-specific models.
In addition to Nifty Gateway, Nike, which had recently withdrawn from the field, was also noted as the brand with the highest revenue from NFT sales worldwide.
RTFKT, acquired by Nike in 2021, also ended its Web3 business in January 2025 due to the rapid decline in the NFT market.
Thus, there are signs of further withdrawals by prominent companies from the once-enthusiastic NFT field. Since the peak in 2021, it has not regained momentum.
On the other hand, Gemini continues to expand its global regulatory-compliant cryptocurrency services, but the closure of Nifty Gateway indicates that even well-capitalized early entrants find it challenging to maintain NFT-focused businesses in the current market environment.
The future of Nifty Gateway Studio
This move comes shortly after Nifty Gateway Studio had been recruiting interns a few weeks ago, indicating a shift towards new talent acquisition and cost-awareness enhancement.
Therefore, one of the unresolved issues that became clear following the announcement is the future of the company's Web3 creative division, 'Nifty Gateway Studio (NGS)', which officially launched in 2024.
NGS is positioned as a full-service digital production studio specializing in immersive on-chain creative experiences, partnering with artists, brands, and creators to develop experimental content based on NFTs.
The project ranges from exclusive collectibles to interactive drops that fuse AI, art, and blockchain ownership.
While the ties to the original marketplace are strong, Nifty Gateway Studio will continue to operate.
Will it continue to operate independently?
Will it evolve as part of Gemini's extensive strategy?
Will the business end along with the platform itself?
This point is currently unclear. The company has not provided specific explanations regarding the future of the studio in this announcement and did not respond immediately to comment requests from BeInCrypto.
"This is very sad news. I am proud of the achievements NG has accomplished and the efforts of everyone involved. During the time I managed NG with Griffin Cockfoster, we paid artists over $500 million. In 2021, this was about 1/8 of the amount paid to creators by YouTube in 2021. The NFT movement will continue," said Duncan Cockfoster, former co-founder of Nifty Gateway Studio.
The top priority for users is asset withdrawal. Nifty Gateway emphasized that customers must move all funds and NFTs by the deadline of February 23, 2026. After the deadline, the platform will cease operations completely.
