Geminiโs Nifty Gateway will shut down on February 23, 2026, marking the end of its NFT platform, pivotal during the digital art boom.
The shutdown reflects broader NFT market challenges, influencing Ethereum-based trading dynamics while artists and users navigate the platformโs withdrawal directive.
Geminiโs Nifty Gateway, acquired in 2019, will shut down in February 2026, impacting NFT enthusiasts and the diverse audience itโs catered to.
The abrupt closure marks a significant shift towards Geminiโs core exchange services, as the platform prepares for its shutdown alongside other declining NFT marketplaces.
Geminiโs NFT Platform Nifty Gateway to End in 2026
Geminiโs Nifty Gateway announced its platform will shut down in February 2026. The marketplace, acquired by Gemini in 2019, catered to NFT enthusiasts and allowed for fiat purchases, engaging a diverse audience.
The founders, Cameron and Tyler Winklevoss, positioned Nifty Gateway as a compliant NFT marketplace. The shutdown was announced via Nifty Gateway Studio, marking a significant shift towards Geminiโs core exchange services.
Ethereum Transactions and $500+ Million in Artist Payments Affected
Nifty Gatewayโs closure impacts Ethereum-based transactions, requiring users to transfer assets to self-custody by February 2026. This decision affects $766.3 million in lifetime gross sales and over $500 million paid to artists.
Financial impacts include asset withdrawals, with no immediate regulatory oversight changes. Historical trends suggest NFT markets are stabilizing post-2021 hype, prompting marketplace pivots and operational shutdowns. User guidance continues until shutdown.
NFT Market Decline Continues with Nifty Gateway Closure
Nifty Gatewayโs closure aligns with other NFT platforms like Nikeโs RTFKT, which recently ceased operations. These actions reflect the waning interest and regulatory pressures on NFT marketplaces following a marketwide downturn.
Duncan Cock Foster, Ex-Co-Founder, Nifty Gateway Studio, โIncredibly 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.โ
Kanalcoin reports predict ongoing shifts in NFT operations, citing historical trends of market consolidation and regulatory complexities. Financial ecosystems continue adapting to technological and regulatory landscapes impacting NFT exchanges.
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