Gemini-Owned Nifty Gateway To Shut Down Nft Marketplace In February 2026

What Happened

Nifty Gateway, one of the most recognizable platforms to emerge from the NFT boom, has announced it will officially shut down its marketplace on February 23, 2026.

Gemini acquired Nifty Gateway in 2019. The Winklevoss-led exchange also provided the regulatory, custody, and security infrastructure that underpinned both the NFT marketplace and its later evolution into Nifty Gateway Studio as a Gemini-backed Web3 creative arm.

Launched around 2020, Nifty Gateway quickly became a household name during the early NFT wave. It distinguishes itself through curated digital art drops and a user-friendly approach that allows purchases via credit cards and fiat currencies.

Cameron and Tyler Winklevoss, Gemini exchange’s founders, acquired the platform in 2019. This positioned it as a flagship NFT marketplace backed by exchange-grade custody and compliance infrastructure.

However, as NFT trading volumes collapsed in subsequent years and user interest waned, the platform struggled to regain traction. This is despite broader industry attempts to reframe NFTs around utility, gaming, and real-world assets. The network also suffered a hack in 2021 that compromised multiple accounts.

NFT Market Unwind Raises Questions Over Nifty Gateway Studio’s Future

RTFKT, acquired by Nike in 2021, also shut down Web3 operations in January 2025 due to the NFT market’s sharp decline.

Therefore, one open question following the announcement is the future of Nifty Gateway Studio (NGS), the company’s Web3 creative arm, which was formally launched in 2024.

Market Context

Nifty Gateway Studio shared the news, confirming that no further trading or new activity will take place on the platform.

The shutdown reflects the longer unwind of the NFT market, which has seen multiple marketplaces either close, consolidate, or pivot away from pure NFT trading models.

While Gemini has continued to expand its regulated crypto services globally, Nifty Gateway’s closure suggests that even well-capitalized, early movers have found it difficult to sustain NFT-specific businesses in the current market environment.

While closely tied to the original marketplace, it remains unclear whether Nifty Gateway Studio will:

Why It Matters

Notably, the latest development comes only weeks after Nifty Gateway Studio advertised open intern slots, likely indicating interest in new talent or a shift toward cost-consciousness.

Details

Nifty Gateway Enters Withdrawal-Only Mode Immediately

Effective immediately, the platform has entered “withdrawal-only mode,” urging users to withdraw funds and digital assets before the closure.

“Today, we are announcing that the Nifty Gateway platform will be closing 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 email instructions on how to move their assets off the platform.

This accessibility helped onboard a broader, non-crypto-native audience at a time when NFTs were quickly entering mainstream culture.

At its height during the 2021 NFT boom, Nifty Gateway hosted dozens of high-profile creator and brand collaborations. It helped legitimize digital art and collectibles as a new asset class.

Besides Nifty Gateway, another player that exited the scene recently was Nike, only years after becoming the world’s highest-earning brand from NFT sales.

Therefore, this marks another high-profile retreat from the once-red-hot NFT sector, which has struggled to regain momentum since its 2021 peak.

What Next for Nifty Gateway Studio?

NGS was positioned as a full-service digital production studio focused on immersive, on-chain creative experiences. It partnered with artists, brands, and creators on experimental NFT-based content.

Projects ranged from limited-edition collectibles to interactive drops blending AI, art, and blockchain-based ownership.