Nifty Gateway, one of many earliest and most recognizable NFT marketplaces, is about to close down operations subsequent month, marking one other high-profile exit amid the sector’s extended downturn.
“Immediately, we’re saying that the Nifty Gateway platform will probably be closing on February 23, 2026,” the Gemini-owned platform wrote in a Saturday submit on X, including that it has already entered withdrawal-only mode, giving customers roughly one month to maneuver any remaining NFTs or funds off the location.
A shutdown discover is now displayed on Nifty Gateway’s homepage, and customers can withdraw property both by way of a linked Gemini Trade account or on to their financial institution through Stripe.
Nifty Gateway mentioned clients with NFTs, ETH or US greenback balances would obtain electronic mail directions on withdrawing their property. The corporate urged customers to finish the method forward of the February deadline.
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Nifty Gateway topped $300 million in gross sales at its peak
Launched in 2020, Nifty Gateway performed a central position in bringing NFTs to a mainstream viewers. Not like many crypto-native platforms on the time, it allowed customers to buy digital collectibles utilizing bank cards, decreasing the barrier to entry. {The marketplace} grew to become recognized for curated “drops” from high-profile artists and creators, together with Beeple and Grimes.
On the top of the NFT frenzy in mid-2021, Nifty Gateway facilitated greater than $300 million in gross sales. That momentum pale because the broader NFT market cooled. In April 2024, the corporate stepped away from working a conventional market and rebranded as Nifty Gateway Studio, shifting its focus towards onchain artistic tasks and model partnerships.
Gemini, which acquired Nifty Gateway in 2019, mentioned the closure would enable the crypto change to focus on its broader product technique. “This determination will enable Gemini to sharpen its focus and execute on the imaginative and prescient of constructing a one-stop tremendous app for patrons,” the corporate mentioned, including that it’ll proceed to assist NFTs by way of the Gemini Pockets.
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Animoca acquires Somo as NFT market exhibits indicators of life
Earlier this month, Animoca Manufacturers acquired gaming and digital collectibles agency Somo, bringing its playable and tradable collectibles into Animoca’s wider blockchain ecosystem. The corporate plans to combine Somo utilizing shared infrastructure and partnerships, positioning the deal as a strategic extension of its present gaming and NFT portfolio.
The acquisition got here because the NFT market confirmed a short-term rebound at first of 2026. Complete NFT market capitalization rose about 20% within the first two weeks of the yr, climbing from roughly $2.5 billion to over $3 billion, with a pointy $300 million soar occurring in a single 24-hour interval alongside larger buying and selling volumes.
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