Nifty Gateway, seen as a symbol of the 2021 NFT boom, will close at the end of Feb. 23, 2026.

CoinDesk reported on Jan. 25 local time that Gemini, which operates Nifty Gateway, has switched the platform to withdrawals-only mode with immediate effect. It notified users to withdraw remaining NFTs and assets within a month. Withdrawals will be made to a Gemini exchange account or via bank transfer through Stripe.

Nifty Gateway was a leading platform that introduced NFTs to the general public by selling curated NFT works by well-known artists such as Beeple and Grimes. By supporting credit card payments and making access easier for users unfamiliar with cryptocurrencies, it also surpassed cumulative transaction volume of $300 million in mid-2021.

But the NFT market has contracted sharply after peaking at $17 billion in 2022, with current market capitalisation staying at about $2.8 billion. Nifty Gateway also shut down its exchange function from April 2024 and switched to "Nifty Gateway Studio", focusing on on-chain creative collaboration with brands and artists.

Gemini said of the closure decision, "We will reorganise the core of our NFT business around wallet services and focus on developing an integrated 'super app' for customers."