Gemini Trust Co., the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, said it will close its NFT marketplace Nifty Gateway, marking another reduction in the once-booming digital collectibles sector.
Summary
- Gemini said Nifty Gateway helped introduce new creative experiences during the height of the NFT boom. Now it is coming to an end.
- The closure reflects Gemini’s broader strategic shift as it seeks to focus on what it describes as creating a “one-stop super app” for cryptocurrency users.
- The move comes amid a prolonged downturn in the NFT market.
in a statement Posted on Tuesday, Gemini said that Nifty Gateway will officially close on February 23.
The platform entered withdrawal-only mode with immediate effect, allowing users to withdraw their assets from the market before closing.
Launched in 2020, Nifty Gateway positioned itself as a premium destination for digital art and collectibles, attracting early attention for high-profile NFT launches and collaborations with established brands and artists.
Gemini said the platform supported “dozens of innovative launches” and helped introduce new creative experiences during the height of the NFT boom.
“We are incredibly proud of the work the Nifty team has pioneered and grateful to Nifty Gateway clients and artists for joining us on this journey,” Gemini said.
The closure reflects Gemini’s broader strategic shift, which is looking to consolidate products and focus on what it describes as creating a “comprehensive super app” for cryptocurrency users. While the standalone marketplace will close, Gemini said it will continue to support NFTs through the Gemini Wallet, which launched in August 2025.
Nifty Gateway customers holding NFTs along with USD or ether balances will receive instructions on how to migrate their assets from Nifty Gateway to the broader Gemini ecosystem.
The move comes amid a prolonged downturn in the NFT market, where trading volumes and user activity have fallen sharply from their 2021 highs. Several exchanges have scaled back operations or exited the space entirely as investor interest cooled and regulatory scrutiny of crypto assets increased.
Gemini
Gemini Trust Co., founded in 2014 by the Winklevoss twins, operates a regulated cryptocurrency exchange and custody platform serving retail and institutional clients.
The New York-based firm has emphasized regulatory compliance and commitment, positioning itself as a security-focused alternative to offshore crypto exchanges. Gemini is licensed in multiple jurisdictions and offers services including spot trading, custody, staking and digital wallet.
In recent years, the company has also rationalized its product line following market volatility, high-profile industry failures, and legal challenges affecting parts of the crypto sector. The decision to close Nifty Gateway underscores Gemini’s effort to narrow its focus as it goes for integrated wallet-based services rather than standalone NFT marketplaces.
For artists and collectors who once flocked to select NFT drops, the shutdown marks the end of one of the most prominent platforms to emerge during the early days of the digital art boom.
