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.
“At the moment, we’re asserting that the Nifty Gateway platform shall 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 belongings both by means of a linked Gemini Change account or on to their financial institution through Stripe.
Nifty Gateway stated clients with NFTs, ETH or US greenback balances would obtain electronic mail directions on withdrawing their belongings. 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 function in bringing NFTs to a mainstream viewers. In contrast to many crypto-native platforms on the time, it allowed customers to buy digital collectibles utilizing bank cards, reducing the barrier to entry. {The marketplace} turned identified for curated “drops” from high-profile artists and creators, together with Beeple and Grimes.
On the peak 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 standard market and rebranded as Nifty Gateway Studio, shifting its focus towards onchain inventive initiatives and model partnerships.
Gemini, which acquired Nifty Gateway in 2019, stated the closure would permit the crypto change to focus on its broader product technique. “This determination will permit Gemini to sharpen its focus and execute on the imaginative and prescient of constructing a one-stop tremendous app for purchasers,” the corporate stated, including that it’ll proceed to assist NFTs by means of the Gemini Pockets.
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Animoca acquires Somo as NFT market reveals 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 current gaming and NFT portfolio.
The acquisition got here because the NFT market confirmed a short-term rebound initially of 2026. Whole 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 greater buying and selling volumes.
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