Gemini Shuts Down Nifty Gateway NFT Marketplace: What’s Next for Users?

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TLDR

Gemini has confirmed the closure of Nifty Gateway and entered withdrawal-only mode for the platform.
Users have until February 2026 to withdraw their NFTs, ETH, or USD from Nifty Gateway.
Gemini will continue to support NFTs through the Gemini Wallet rather than a dedicated marketplace.
Nifty Gateway, once a popular NFT platform, saw a significant decline in the market after the 2021 boom.
This move follows similar actions from other companies, signaling ongoing struggles in the NFT industry.

Gemini has confirmed the closure of Nifty Gateway, one of the earliest and most prominent NFT marketplaces. The company announced that the platform has entered withdrawal-only mode as of Friday, preventing users from listing, buying, or selling NFTs. Nifty Gateway users now have until February 23, 2026, to withdraw their assets from the platform.

Gemini’s New Direction for NFTs

After purchasing Nifty Gateway in 2019, Gemini has decided to shut down the marketplace, focusing instead on NFTs via the Gemini Wallet. Users holding NFTs, ETH, or USD on the platform will receive instructions on how to redeem their assets. Customers will be able to withdraw funds either through a Gemini Exchange account or directly via Stripe to their bank accounts.

Gemini’s spokesperson stated, “This transition will allow us to focus more on expanding our broader product roadmap.”

The company further clarified that this decision aligns with its goal of creating a more comprehensive super app. As a result, NFTs will continue to be available for users via the Gemini Wallet, but without the dedicated marketplace previously offered by Nifty Gateway.

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.

Nifty Gateway was launched in 2020 with the vision of revolutionizing digital art. Since launching, Nifty supported dozens of…

— Nifty Gateway Studio (@niftygateway) January 24, 2026

The Decline of Nifty Gateway and the NFT Market

Founded in 2018 by Duncan and Griffin Cock Foster, Nifty Gateway was bought by Gemini a year later. The platform gained fame during the 2020 NFT boom by hosting high-profile artist drops, including Beeple and Grimes. It also enabled users to buy NFTs using credit cards, a feature unique at the time.

However, as the NFT market slumped following the 2021 boom, Nifty Gateway struggled to maintain its momentum. In 2021, the platform saw over $300 million in trading volume, but those days ended as NFT prices and demand dropped sharply. The closure of Nifty Gateway signals the broader decline in the NFT space, which has faced challenges since the market’s peak in early 2022.

Gemini’s announcement follows similar moves by other companies in the industry, such as Nike’s sale of RTFKT and LG Electronics’ closure of its NFT platform, LG Art Lab. With many players pivoting or exiting, the NFT sector continues to face a prolonged downturn.