Nifty Gateway, non-fungible token (NFT) The trading platform once at the center of 2021’s digital art boom will shut down on February 23, 2026.
According to the company’s announcement, the platform will immediately go into withdrawal-only mode and users will have one month to move any NFTs or funds remaining on the site. A notice of closure is also posted on the website. Users can withdraw funds from the platform through their connected Gemini Exchange account or to their bank via Stripe.
Notice of closure of Nifty site (Nifty)
The Gemini-owned platform has helped simplify digital collections and reach a wider audience. NFT Purchased item. it was one of the oldest NFT It hosted a trading platform and select “drops” from artists like Beeple and Grimes, and accepted credit card payments, a rarity in crypto-native markets.
At its peak in mid-2021, Nifty Gateway facilitated over $300 million in sales. However, in April 2024, the company moved away from marketplace operations and rebranded as Nifty Gateway Studio.
The focus has shifted to partnering with brands and artists to build on-chain creative projects.
“This decision allows Gemini to focus on and execute on its vision of building a one-stop super app for its customers,” Gemini, the marketplace’s parent company, said in a blog post. “We will continue to support NFTs through Gemini Wallet.”
of NFT The market reached a market cap of $17 billion in early 2022, but has been in a prolonged bear market since then. The current market capitalization is $2.8 billion.
Read more: Founder of Gemini-Owned NFT Marketplace Nifty Exchange withdraws