Nifty Gateway, an early NFT marketplace founded in 2018 and acquired by Gemini, will shut down on February 23 after entering withdrawal-only mode. The platform, which once reported $300 million in gross merchandise value in 2021 and partnered with Sotheby's for a $17 million NFT drop, is closing amid a sharp decline in NFT trading activity. Users must withdraw their assets by the deadline, after which they can no longer list, buy, or sell NFTs on the site.
Nifty Gateway, one of the earliest and most prominent NFT marketplaces, announced it will shut down on February 23, 2026, citing sharply declining activity. The platform, founded in 2018 by twins Duncan and Griffin Cock Foster and acquired by Gemini in 2019, has entered withdrawal-only mode, advising users to move their assets before the deadline. At its peak in 2021, Nifty Gateway reported $300 million in gross merchandise value, boosted by a Sotheby's partnership for a $17 million NFT drop by the artist Pak. The closure follows the collapse of the NFT boom, with trading volumes plummeting and other platforms like Async Art, KnownOrigin, and MakersPlace already shuttered.