Nifty Gateway, one of the most well-known platforms from the NFT boom, has announced that it will shut down its marketplace on February 23, 2026.
Gemini acquired Nifty Gateway in 2019. The exchange, led by Winklevoss, also provided regulation, custody, and security that established both the NFT marketplace and then Nifty Gateway Studio as a creative part of Gemini within Web3.
Nifty Gateway is going directly into withdrawal-only mode.
As of now, the platform is in 'withdrawal-only mode.' They are urging users to withdraw their funds and digital assets before the shutdown.
Nifty Gateway Studio shared the news. They confirmed that no further trading or new activity will take place on the platform.
“Today we announce that the Nifty Gateway platform will close on February 23, 2026. As of today, Nifty Gateway is in withdrawal-only mode,” said the company.
They added that customers who have USD, ETH, or NFTs will receive emails with instructions on how to withdraw their assets from the platform.
Nifty Gateway launched around 2020 and quickly became a well-known name during the first NFT wave. The platform distinguished itself with curated digital art drops and ease of use, allowing purchases with credit cards and regular money.
This accessibility helped many who had no experience with cryptocurrencies to get started when NFTs became popular.
Cameron and Tyler Winklevoss, the founders of Gemini, purchased the platform in 2019. This made it a leading NFT marketplace with security and regulation from an exchange.
During the NFT boom in 2021, Nifty Gateway had many collaborations with major creators and brands. The platform helped to make digital art and collectibles more serious as a new asset type.
But as NFT trading plummeted sharply in recent years and interest waned, the platform lost momentum. This occurred despite attempts in the industry to demonstrate the utility of NFTs within gaming, utility services, and real assets. The network also suffered a breach in 2021 that affected several accounts.
The decline of the NFT market raises questions about the future of Nifty Gateway Studio.
The closure shows that the NFT market continues to shrink. Several marketplaces have closed, merged, or shifted focus away from pure NFT trading.
In addition to Nifty Gateway, Nike has also recently exited the space, just a few years after becoming the world's most profitable brand from NFT sales.
RTFKT, which Nike purchased in 2021, also shut down its Web3 operations in January 2025 due to the rapid decline of the NFT market.
This is why yet another example of how large players are leaving the NFT sector, which has struggled to recover since the peak in 2021.
Despite Gemini continuing to grow globally with regulated crypto services, Nifty Gateway's closure shows that even large, early companies are struggling to maintain businesses fully focused on NFTs in today's market environment.
What happens next for Nifty Gateway Studio?
It is noteworthy that this news comes just weeks after Nifty Gateway Studio sought interns. This likely indicates interest in new talent or that they need to save money.
Therefore, a big question now is what will happen to Nifty Gateway Studio (NGS), the company's creative branch within Web3, which was launched in 2024.
NGS built a digital production studio that focused on immersive projects directly on the blockchain. They collaborated with artists, brands, and creators around experimental NFT projects.
The projects varied from limited edition collectibles to interactive drops that combined AI, art, and blockchain ownership.
The studio was closely tied to the original marketplace, but it is unclear whether Nifty Gateway Studio will:
Continue to operate independently
Develop within Gemini's broader strategy, or
Be shut down along with the platform.
The company did not provide any specific information about the studio's future in its announcement. They also did not respond directly to BeInCrypto's request for comment.
“Incredibly sad news. I am very proud of what NG has accomplished and all the work the team has done. When I ran NG together with Griffin Cock Foster, we paid out over 500 million USD to artists. In 2021, that was approximately one-eighth of what YouTube paid to creators that year. The NFT movement will continue,” said Duncan Cock Foster, former co-founder of Nifty Gateway Studio.
For users, the most important thing now is to withdraw their assets. Nifty Gateway explained that customers must move all funds and NFTs before February 23, 2026. After that, the platform will shut down completely.
