Uncertainty remains over the future of Nifty Gateway Studio, its Web3 creative arm launched in 2024.
Nifty Gateway, one of the most recognizable platforms to emerge from the NFT boom, has announced it will officially shut down its marketplace on February 23, 2026.
Gemini acquired Nifty Gateway in 2019. The Winklevoss-led exchange also provided the regulatory, custody, and security infrastructure that underpinned both the NFT marketplace and its later evolution into Nifty Gateway Studio as a Gemini-backed Web3 creative arm.
Nifty Gateway Enters Withdrawal-Only Mode Immediately
Effective immediately, the platform has entered “withdrawal-only mode,” urging users to withdraw funds and digital assets before the closure.
Nifty Gateway Studio shared the news, confirming that no further trading or new activity will take place on the platform.
“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,” the company said.
It added that customers holding USD, ETH, or NFTs would receive email instructions on how to move their assets off the platform.
Launched around 2020, Nifty Gateway quickly became a household name during the early NFT wave. It distinguishes itself through curated digital art drops and a user-friendly approach that allows purchases via credit cards and fiat currencies.
This accessibility helped onboard a broader, non-crypto-native audience at a time when NFTs were quickly entering mainstream culture.
Cameron and Tyler Winklevoss, Gemini exchange’s founders, acquired the platform in 2019. This positioned it as a flagship NFT marketplace backed by exchange-grade custody and compliance infrastructure.
At its height during the 2021 NFT boom, Nifty Gateway hosted dozens of high-profile creator and brand collaborations. It helped legitimize digital art and collectibles as a new asset class.
However, as NFT trading volumes collapsed in subsequent years and user interest waned, the platform struggled to regain traction. This is despite broader industry attempts to reframe NFTs around utility, gaming, and real-world assets. The network also suffered a hack in 2021 that compromised multiple accounts.
NFT Market Unwind Raises Questions Over Nifty Gateway Studio’s Future
The shutdown reflects the longer unwind of the NFT market, which has seen multiple marketplaces either close, consolidate, or pivot away from pure NFT trading models.
Besides Nifty Gateway, another player that exited the scene recently was Nike, only years after becoming the world’s highest-earning brand from NFT sales.
RTFKT, acquired by Nike in 2021, also shut down Web3 operations in January 2025 due to the NFT market’s sharp decline.
Therefore, this marks another high-profile retreat from the once-red-hot NFT sector, which has struggled to regain momentum since its 2021 peak.
While Gemini has continued to expand its regulated crypto services globally, Nifty Gateway’s closure suggests that even well-capitalized, early movers have found it difficult to sustain NFT-specific businesses in the current market environment.
What Next for Nifty Gateway Studio?
Notably, the latest development comes only weeks after Nifty Gateway Studio advertised open intern slots, likely indicating interest in new talent or a shift toward cost-consciousness.
Therefore, one open question following the announcement is the future of Nifty Gateway Studio (NGS), the company’s Web3 creative arm, which was formally launched in 2024.
NGS was positioned as a full-service digital production studio focused on immersive, on-chain creative experiences. It partnered with artists, brands, and creators on experimental NFT-based content.
Projects ranged from limited-edition collectibles to interactive drops blending AI, art, and blockchain-based ownership.
While closely tied to the original marketplace, it remains unclear whether Nifty Gateway Studio will:
* Continue operating independently
* Evolve under Gemini’s broader strategy, or
* Be wound down alongside the platform itself.
The company did not provide specific guidance on the studio’s future in its announcement, and neither did it immediately respond to BeInCrypto’s request for comment.
“Incredibly sad news. Very proud of what NG accomplished and the work that everyone did. In my time running NG with Griffin Cock Foster, we paid out over $500 million to artists. In 2021, it was ~1/8 of the money YouTube paid to creators in 2021. The NFT movement will continue,” said Duncan Cock Foster, ex-co-founder of Nifty Gateway Studio.
For users, the immediate priority is asset withdrawal. Nifty Gateway emphasized that customers must move all funds and NFTs before the February 23, 2026, deadline. Afterwards, the platform will cease operations entirely.
