Nifty Gateway, one of the most popular platforms that emerged from the NFT boom, announced that it will officially close its marketplace on February 23, 2026.
Gemini acquired Nifty Gateway in 2019. The Winklevoss platform also provided the regulatory, ownership, and security infrastructure that supported the NFT marketplace and its later evolution into Nifty Gateway Studio as a Gemini-backed creative arm for the Web3 game.
Nifty Gateway enters withdrawal-only mode immediately
As of now, the platform has entered "withdrawal-only mode," urging users to withdraw funds and digital assets before the shutdown.
Nifty Gateway Studio shared the news, confirming that no trading or new activity will occur on the platform.
"Today we announce that the Nifty Gateway platform will close on February 23, 2026. Starting today, Nifty Gateway is in withdrawal-only mode," the company said.
It added that customers holding USD, ETH, or NFTs would receive instructions via email on how to transfer their assets off the platform.
Nifty Gateway launched around 2020, quickly becoming a household name during the early NFT wave. It is characterized by curated digital art releases and a user-friendly approach that allows purchases via credit cards and fiat currencies.
This access helped attract a broader audience of non-crypto users at a time when NFTs were rapidly entering the mainstream culture.
Cameron and Tyler Winklevoss, founders of the Gemini exchange, acquired the platform in 2019. This positioned it as a leading marketplace for non-fungible tokens supported by exchange-level custodial and compliance infrastructure.
At its peak during the NFT boom in 2021, Nifty Gateway hosted dozens of prominent collaborations between creators and brands. This helped legitimize digital art and collectibles as a new asset class.
With the collapse of NFT trading volumes in the following years and a decline in user interest, the platform struggled to regain momentum. This was despite the broader industry's attempts to reframe non-fungible tokens around service-based offerings, gaming, and real-world assets. The network also experienced a breach in 2021 that compromised several accounts.
The NFT Unwind marketplace raises questions about the future of Nifty Gateway Studio
The closure reflects a longer period of decline for the NFT market, which has seen several marketplaces close or consolidate or shift away from purely trading models for non-fungible tokens (NFTs).
Alongside Nifty Gateway, another player that recently exited the space is Nike, just years after becoming the highest-grossing brand from NFT sales in the world.
RTFKT, which was acquired by Nike in 2021, also shut down its web 3 operations in January 2025 due to the sharp decline in the NFT market.
Thus, this represents another significant retreat from the NFTs sector that was previously booming, which has struggled to regain its momentum since its peak in 2021.
While Gemini continued to expand its organized cryptocurrency services globally, Nifty Gateway's closure indicates that even early companies with good capital have found it challenging to maintain NFT businesses in the current market environment.
What is next for Nifty Gateway Studio?
It is noteworthy that this recent development came just weeks after Nifty Gateway Studio announced open internship opportunities, likely indicating an interest in new talent or a shift towards cost-awareness.
Therefore, there is an open question following the announcement about the future of Nifty Gateway Studio (NGS), the company's creative arm in Web3, which was officially launched in 2024.
NGS was positioned as a full-service digital production studio focused on immersive creative experiences on the blockchain. It collaborated with artists, brands, and creators on NFT-based experimental content.
Projects ranged from limited edition collectibles to interactive pieces that blend artificial intelligence, art, and blockchain ownership.
Despite its close ties to the original market, it remains unclear what Nifty Gateway Studio will do:
Continue to operate independently
Evolved under Gemini's broader strategy, or
To be relaxed next to the platform itself.
The company did not provide specific guidance regarding the future of the studio in its announcement, and did not immediately respond to BeInCrypto's request for comment.
"Very sad news. I am very proud of what NG has accomplished and the work that everyone has done. During my time running NG with Griffin Cook Foster, we paid out over $500 million to artists. In 2021, it was ~1/8 of the money that YouTube paid to creators in 2021. The NFT movement will continue," said Duncan Cook Foster, former co-founder of Nifty Gateway Studio.
For users, the immediate priority is to withdraw assets. Nifty Gateway confirmed that customers must transfer all funds and non-fungible tokens before the deadline on February 23, 2026. After that, the platform will cease operations entirely.
