Gemini-owned NFT marketplace Nifty Gateway is set to close permanently on February 23, 2026, marking the end of one of the earliest platforms that brought non-fungible tokens into mainstream awareness. The platform, which has already entered withdrawal-only mode, is giving users roughly a month to transfer any remaining NFTs, ether, or US dollar balances. Customers can withdraw assets via linked Gemini Exchange accounts or direct bank transfers through Stripe, with email instructions provided for each account holder.
Nifty Gateway emerged in 2020 as a gateway for mainstream audiences to enter the NFT space. Unlike many early competitors, the platform allowed users to buy digital collectibles using credit cards, reducing technical barriers and simplifying onchain engagement. The marketplace gained prominence for hosting high-profile drops from artists like Beeple and Grimes, facilitating more than $300 million in sales at the peak of the 2021 NFT boom.
As the NFT market cooled, Nifty Gateway faced declining trading volumes and reduced speculative demand. In April 2024, the platform shifted focus from open marketplace trading to onchain creative projects, rebranding as Nifty Gateway Studio. Despite these efforts, the platform did not regain its former prominence, and Gemini announced that the closure will allow the company to focus on its broader strategy, including its Gemini Wallet and one-stop super app vision.
The shutdown of Nifty Gateway highlights broader trends in the NFT sector. After reaching a peak market capitalization of around $17 billion in early 2022, the NFT market has contracted significantly to an estimated $2.8 billion. While there have been short-term rebounds, including a 20% increase in total market value in early 2026, legacy consumer-facing marketplaces have struggled to sustain engagement. Selective investments, such as Animoca Brands’ acquisition of Somo, show that interest continues where NFTs intersect with gaming and utility-driven use cases, but mass-market NFT trading remains subdued.
For current users, the immediate priority is transferring assets before the February deadline. More broadly, Nifty Gateway’s exit underscores a sector-wide transition from speculative, mainstream NFT marketplaces to more specialized applications. Experts suggest the future of NFTs will increasingly focus on gaming, brand partnerships, and infrastructure projects, signaling a maturation of the market after the rapid expansion phase of the early 2020s.
The closure of Nifty Gateway represents both an endpoint and a pivot point for the NFT ecosystem. While the era of broad consumer-facing marketplaces is winding down, the technology and creative potential of NFTs are likely to endure in targeted, utility-oriented applications that align with long-term growth in decentralized digital assets.
