Gemini

2026

Pudgy Penguins

Nifty Gateway has announced that its platform will be ceasing trading operations from today and shut down finally in February this year. It advised account holders to move their assets to external wallets or personal accounts before the deadline.&nbsp;With the announcement, Nifty Gateway becomes the latest upstart from the NFT era to become defunct after the digital art momentum crashed and burned, as initial excitement and FOMO fizzled out after compounding user losses.&nbsp;<h3 id="span-style-font-weight-400-nifty-gateway-shuts-down-span">Nifty Gateway shuts down&nbsp;</h3>Nifty Gateway has <a href="https://x.com/niftygateway/status/2014887766623191538" rel="noopener noreferrer nofollow">announced</a> that it is shutting down. The platform said in a post on X that it will fully close its doors on February 23, 2026.&nbsp;Nifty Gateway was launched in 2020 with a goal to change how people collect and experience digital art. Over the years, it hosted many famous art “drops” and worked with world-renowned creators.Starting today, trading features on the platform are turned off. It is strictly in “withdrawal-only mode.” Users can no longer list NFTs for sale or place bids on new art.&nbsp;Gemini, the cryptocurrency exchange owned by the Winklevoss twins, purchased Nifty Gateway in 2019. Gemini leaders stated that they are proud of the team’s work but want to focus on new projects. Specifically, they want to build a “one-stop super app” for all crypto needs.Nifty Gateway account holders need to act before the February deadline. The company is sending emails to everyone who has a balance of U.S. Dollars (USD), Ethereum (ETH), or an NFT in their account. These emails contain step-by-step instructions on how users can move their property. NFTs can be moved to an external wallet or to the Gemini ecosystem.Users will have to pay gas fees to move their items, and Nifty Gateway has confirmed they will not cover these costs. Users who bought items with a credit card for the first time might have to wait 72 hours before they can withdraw them.&nbsp;<h3 id="span-style-font-weight-400-how-s-gemini-moving-forward-without-nifty-gateway-span">How’s Gemini moving forward without Nifty Gateway?&nbsp;</h3>Before Gemini ultimately cut Nifty Gateway, it launched Gemini Wallet in August 2025 as a tool designed to hold NFTs alongside other cryptocurrencies. Gemini plans to move its NFT community into this new system in order to make crypto easier to use in one single app.Despite the Nifty Gateway’s closing, recent data shows that the NFT market grew by about $700 million in the first few weeks of January. Weekly sales have jumped to around $85 million, a big increase compared to the end of 2025.&nbsp;Notably, users are moving away from simple “profile picture” NFTs and toward “utility” NFTs that give you special access to games, events, or real-world products. Even OG NFt projects such as Pudgy Penguins launched its fungible token PENGU to bridge the gap between “hardcore” NFT collectors and the average crypto retailer.&nbsp;Even OpenSea, a leading venue at the peak of NFT trading, <a href="https://www.cryptopolitan.com/opensea-pivots-to-crypto-asset-aggregation/" rel="noopener noreferrer nofollow">announced</a> in October 2025 that it will pivot to become a crypto asset aggregator. That strategic detour came after previous attempts to revive activity.&nbsp;Devin Finzer <a href="https://www.cryptopolitan.com/opensea-to-launch-sea-token-50-buyback/" rel="noopener noreferrer nofollow">announced</a> that OpenSea’s native token, with ticker SEA, will launch during the first quarter of 2026. The founder added that 50% of the token supply will be given to OG users while sharing minimal tokenomics details.Want your project in front of crypto’s top minds? <a href="https://docs.google.com/forms/d/e/1FAIpQLSeyS1VgaVJpjBrbUT5n6xYKWVADNgbSagP5cHNuo67yagIJHQ/viewform?utm_source=cp&amp;utm_medium=web&amp;utm_campaign=reports" rel="noopener noreferrer nofollow">Feature it in our next industry report, where data meets impact.</a>

Nifty Gateway will officially close all platform operations on February 23, 2026

Table of Contents

Cryptopolitan_News

Other articles published on Jan 24, 2026

Was This Bitcoin Art the First Ever NFT?

Bitcoin Price Surpasses Historical Levels Across 6,230 Days

Veteran Traders Flock To Zero Knowledge Proofs’ (ZKP) 7000x Potential as ETH & ADA Struggle With ...

Ethereum Staking Hits Record High Amid Institutional Demand

Join our free newsletter for daily crypto updates!