Nifty Gateway to Cease Operations Feb. 23; Gemini Axes NFT Pioneer
The Gemini-owned platform enters withdrawal-only mode immediately, giving users 30 days to exit as the exchange pivots to a ‘super app’ strategy.
The pioneer of credit-card NFT purchases is officially closing its doors.
Nifty Gateway, the Gemini-owned marketplace that once dominated the digital art sector, announced Saturday it will permanently shut down on February 23, 2026. The platform has immediately entered a withdrawal-only mode, terminating all new trades and mints as parent company Gemini pivots resources toward its core exchange products.
The Mechanics of the Shutdown
Users have less than 30 days to evacuate assets before the 11:59 PM UTC deadline. According to the notice, the shutdown process is strict:
- Trading: Halted immediately.
- Withdrawals: Open until Feb. 23 via linked Gemini accounts or direct bank transfer (Stripe).
- Custody: NFTs not withdrawn by the deadline face uncertain recovery paths, though Gemini stated it will continue to support NFTs strictly within its own wallet infrastructure.
“This decision will allow Gemini to sharpen its focus and execute on the vision of building a one-stop super app for customers.”
Institutional Pivot Amid Market Mixed Signals
The closure marks the end of a specific era of “custodial” NFT trading. Acquired by the Winklevoss twins in 2019, Nifty Gateway differentiated itself by allowing collectors to buy Beeple and Pak drops with fiat currency, bypassing the complexities of on-chain wallets. This model facilitated over $300 million in volume during the 2021 peak but struggled to retain relevance as the market shifted toward decentralized, non-custodial competitors like Blur and OpenSea.
The timing is notable. While Nifty Gateway capitulates, the broader sector has shown isolated flashes of liquidity in January 2026. Data from the first weeks of the year indicated a 20% rise in total NFT market capitalization to roughly $3 billion, driven largely by gaming tokens like The Sandbox ($SAND), which rallied ~50% YTD. Nifty Gateway’s exit suggests that rising tides are no longer lifting legacy infrastructure that failed to adapt to on-chain autonomy.
Gemini confirmed that while the marketplace dies, the brand will be effectively absorbed, with future NFT functionality restricted to the Gemini Wallet.
