Nifty Gateway, one of the pioneering and most well-known NFT marketplaces, is preparing to suspend its operations in February 2026, highlighting another significant departure amid the ongoing decline of the NFT sector.
“Today, we are announcing that the Nifty Gateway platform will be closing on February 23, 2026,” the platform owned by Gemini stated in a post on X, noting that it has already shifted to withdrawal-only mode, granting users approximately one month to transfer any remaining NFTs or funds.
A closure notice is currently visible on Nifty Gateway’s homepage, with options for users to withdraw assets either through a connected Gemini Exchange account or directly to their bank via Stripe.
Nifty Gateway mentioned that users holding NFTs, ETH, or US dollar balances will receive email guidance for withdrawing their assets, and they encouraged prompt action before the February deadline.
Nifty Gateway closure announcement.
Source: Nifty Gateway
Nifty Gateway Soared Past $300 Million in Sales at Its Peak
Established in 2020, Nifty Gateway played a crucial role in popularizing NFTs. In contrast to many crypto-native platforms of the era, it enabled users to buy digital collectibles using credit cards, significantly lowering entry barriers. The marketplace gained fame for its curated releases from high-profile artists and writers, including Beeple and Grimes.
During the NFT boom in mid-2021, Nifty Gateway facilitated over $300 million in sales. However, this momentum dwindled as the overall NFT market cooled. In April 2024, the platform transitioned away from traditional marketplace operations and rebranded as Nifty Gateway Studio, refocusing on blockchain creative projects and brand partnerships.
Gemini, which acquired Nifty Gateway in 2019, indicated that the closure will allow the crypto exchange to concentrate on its broader product strategy. “This decision will allow Gemini to sharpen its focus and execute on the vision of building a one-stop super app for customers,” the firm stated, emphasizing its commitment to supporting NFTs through the Gemini Wallet.
Animoca Acquires Somo as the NFT Market Shows Signs of Rebound
This month, Animoca Brands announced its acquisition of gaming and digital collectibles company Somo, intending to incorporate its playable and tradable collectibles into Animoca’s larger blockchain ecosystem. The company plans to use shared infrastructure and partnerships, positioning this acquisition as a strategic enhancement to its existing gaming and NFT portfolio.
Such acquisitions come as the NFT market shows a brief upswing at the beginning of 2026, with total NFT market capitalization increasing by about 20% within the first two weeks of the year.
