Nifty Gateway, one of the most well-known platforms from the NFT hype, 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 brothers also provided the regulatory, storage, and security infrastructure that supported the NFT marketplace and later the evolution to Nifty Gateway Studio as a Web3 creative branch.
Nifty Gateway direct over op only recording mode
Effective immediately, the platform has switched to 'recordings only', with users being asked to withdraw their money and digital assets before the closure.
Nifty Gateway Studio has shared the news and confirmed that no trading or new activities will take place on the platform.
"Today we announce that the Nifty Gateway platform will close on 23 February 2026. As of today, only withdrawals are possible on Nifty Gateway," the company reported.
The company added that customers with USD, ETH, or NFTs will receive an email with instructions on how to withdraw their assets from the platform.
Launched around 2020, Nifty Gateway quickly became a well-known name in the early days of NFTs. The platform stood out with carefully selected digital art drops and a user-friendly approach that allowed users to buy with credit card and fiat money.
This accessibility allowed for a broader, non-crypto audience to be reached at a time when NFTs were quickly finding their way into the mainstream.
Cameron and Tyler Winklevoss, the founders of Gemini, acquired the platform in 2019. This made it one of the leading NFT marketplaces, supported by exchange-level custody and compliance.
At the peak of the NFT hype in 2021, Nifty Gateway hosted collaborations with many well-known creators and brands. This led to digital art and collectibles being recognized as a new asset class.
But as trading volumes in NFTs sharply declined in subsequent years and user interest waned, the platform struggled to find new growth. This despite efforts from the industry to position NFTs more around utility, gaming, and Real-World Assets. In 2021, there was also a hack that affected multiple accounts.
NFT market unwind raises questions about the future of Nifty Gateway Studio
The closure reflects the further winding down of the NFT market, where various marketplaces have closed, merged, or moved away from trading only NFTs.
In addition to Nifty Gateway, Nike also recently stopped, while it had generated the most revenue from NFTs globally.
RTFKT, acquired by Nike in 2021, also ceased its Web3 activities in January 2025 due to the severe downturn of the NFT market.
This again means a notable withdrawal from the once wildly popular NFT sector, which has not been able to find momentum since its peak in 2021.
Although Gemini continues to expand its regulated crypto services worldwide, the closure of Nifty Gateway shows that even well-funded frontrunners are struggling to maintain a purely NFT platform in the current market.
What now for Nifty Gateway Studio
Notably, this news comes shortly after the opening of internship positions at Nifty Gateway Studio, which may indicate interest in new talent or a greater focus on cost-saving.
A key question after this announcement is therefore what will happen to Nifty Gateway Studio (NGS), the Web3 creative branch of the company that was officially launched in 2024.
NGS was positioned as a full-service digital production studio, focused on immersive, on-chain creative experiences. It collaborated with artists, brands, and creators on experimental NFT projects.
Projects varied from limited collectibles to interactive drops that combined AI, art, and blockchain ownership.
Although Nifty Gateway Studio was closely connected to the original marketplace, it is unclear whether it will:
Operate independently
Continue within the broader strategy of Gemini, or
Will also be discontinued along with the platform.
The company has not provided further clarification on this matter and did not respond directly to inquiries from BeInCrypto.
"Incredibly sad news. I am very proud of what NG has achieved and the work of everyone. During the time I ran NG with Griffin Cock Foster, we paid out over $500 million to artists. In 2021, that was about 1/8 of the amount that YouTube paid out to creators in 2021. The NFT movement continues," said Duncan Cock Foster, former co-founder of Nifty Gateway Studio.
For users, directly withdrawing their assets is now the most important. Nifty Gateway emphasized that customers must move all their funds and NFTs before the deadline of 23 February 2026. After this date, the platform will cease all activities.
