Nifty Gateway, the Gemini-owned marketplace that once facilitated the historic sale of Beeple’s Everydays, announced it will permanently cease operations on February 23, 2026. The platform has immediately transitioned to a “withdrawal-only” state, ending all trading and drop activity effective January 24.
Withdrawal Protocol Initiated
Liquidity on the platform has been halted. Users holding USD, ETH, or NFTs on the exchange can no longer execute trades. Gemini stated that account holders will receive specific instructions via email to migrate assets off the platform. While the marketplace dissolves, Gemini confirmed it will continue to support NFT custody through its standalone wallet product, launched in August 2025.
“This decision will allow Gemini to sharpen its focus and execute on the vision of building a one-stop super app for customers.”, Gemini Statement
The Institutional Context
The closure marks the final capitulation of one of the 2021 bull run’s most significant infrastructure plays. Acquired by the Winklevoss twins in 2019, Nifty Gateway differentiated itself by facilitating fiat-on-ramps for digital art, onboarding non-crypto natives to high-profile drops from artists like Pak and Grimes. However, the platform struggled to retain relevance after its founders, Duncan and Griffin Cock Foster, departed in 2023 amidst a prolonged collapse in secondary market volumes.
Gemini’s move to shutter the subsidiary signals a consolidation of resources as the exchange pivots toward its “super app” strategy, effectively cutting losses on a vertical that has seen user activity evaporate.
