Once a leader in the NFT market, Nifty Gateway closes its doors in February 2026 after transitioning to a newsletter platform.

Nifty Gateway, which was at the center of the digital art boom in 2021, will officially shut down its service on February 23, 2026. Once a leading platform for NFT trading, it recently attempted to pivot its business model to a newsletter platform, but ultimately closed its doors following strategic shifts by its parent company Gemini.

The Fall of a Massive NFT Platform that Mediated $300 Million in Transactions

Nifty Gateway was an early player in the NFT trading market and was a pioneering platform that supported credit card payments, which was rare in the cryptocurrency industry. At its peak in mid-2021, it facilitated transactions exceeding $300 million, earning high praise in the market.

Beyond being a simple exchange, the platform regularly hosted curated “drop” events in collaboration with renowned digital artists like Beeple and Grimes. This played a significant role in introducing NFTs to mainstream audiences. At that time, the NFT market was rapidly expanding, reaching a market value of $17 billion in early 2022.

Gemini’s Strategic Shift and the Suspension of NFT Marketplace Operations

Gemini, the parent company of Nifty Gateway, underwent a major strategic overhaul in April 2024. It rebranded from a marketplace operator to Nifty Gateway Studio, focusing on building on-chain creative projects. The goal was to create new value through direct collaborations with brands and artists.

However, this transition did not last long. Gemini decided to focus on a larger vision of building a “one-stop super app for customers,” and it appears that the NFT marketplace was no longer a core component of this vision. Nonetheless, Gemini will continue to support NFTs through the Gemini Wallet.

One Month Remaining: Asset Withdrawal Procedures for Users

As of February 1, Nifty Gateway has switched to withdrawal-only mode and is currently operating in this state. Users have approximately one month until the service ends on February 23 to securely transfer their NFTs and funds.

There are two ways to withdraw assets: first, directly through a linked Gemini Exchange account, or second, via Stripe to a bank account. Users with remaining assets on the platform should take necessary actions within this period to avoid loss.

Closure of the Platform Amid NFT Market Weakness

The closure of Nifty Gateway should be understood in the context of a broader NFT market downturn. The market, which peaked at $17 billion in early 2022, has entered a prolonged bear phase and has shrunk to around $2.8 billion. This indicates that the initial NFT market boom ultimately failed to achieve sustainable growth.

In this changing market environment, major players including Gemini are restructuring their business portfolios. The decision to shut down Nifty Gateway can be seen as part of this industry reorganization. Despite attempts to pivot to a newsletter platform, Nifty Gateway ultimately went against market trends and will be remembered as a case of an early NFT trading success that failed to adapt to the new environment.