Once at the forefront of the NFT digital art wave! Nifty Gateway announces shutdown

The trading platform Nifty Gateway, which once stood at the forefront of the NFT digital art wave, announced that it will cease operations entirely on February 23, 2026. Starting immediately, the platform will enter “withdraw only” mode, giving users one month to transfer their NFTs or funds out of their accounts. According to the official announcement, users can withdraw funds through their Gemini exchange accounts or have them directly transferred to their bank accounts via Stripe. Founded in 2014, Nifty Gateway was acquired in 2019 by the Gemini exchange founded by the Winklevoss twins. By simplifying the purchase process and supporting credit card payments, Nifty Gateway successfully brought digital collectibles to a broader mainstream audience. Nifty Gateway’s most famous achievement was its collaboration with legendary artist Beeple (real name Mike Winkelmann). In February 2021, Beeple’s work sold for $6.6 million on Nifty Gateway, setting a record for digital art at the time. Just a few weeks later, his work sold for a staggering $69.3 million at Christie’s auction house, propelling NFTs into the mainstream spotlight. At its peak, Nifty Gateway also collaborated with pop culture icons such as Eminem, The Weeknd, and Grimes to release NFTs. Data shows that during the peak in mid-2021, Nifty Gateway facilitated transactions exceeding $300 million. However, the decline was equally rapid. By April 2024, the company had gradually exited the traditional NFT market business and rebranded as “Nifty Gateway Studio,” focusing on brand collaborations, but it still could not reverse the liquidity crisis.