One of the most recognizable names from the early days of the NFT explosion is preparing to exit the stage. Nifty Gateway, the NFT platform owned by Gemini, announced it will shut down operations on February 23, catching many artists and collectors off guard and reopening unresolved debates about custodial platforms in the digital art world.
A Defining On-Ramp for NFT Art
Launched as a user-friendly gateway into NFTs, Nifty Gateway differentiated itself at a time when most platforms required technical expertise and self-custody. By offering credit card payments, custodial wallets, and curated drops, it became a crucial entry point for non-crypto-native collectors during the NFT surge of late 2020 and early 2021.
After its acquisition by Gemini in 2019, Nifty Gateway quickly rose to prominence, hosting high-profile drops from artists like Beeple, Pak, and XCOPY. These releases helped legitimize blockchain-based art and brought NFTs into mainstream cultural conversations.
Today, we are announcing that the Nifty Gateway platform will be closing on February 23, 2026. Starting today, Nifty Gateway is in withdrawal-only mode.
— Nifty Gateway Studio (@niftygateway) January 24, 2026
Nifty Gateway was launched in 2020 with the vision of revolutionizing digital art. Since launching, Nifty supported dozens of…
Today, we are announcing that the Nifty Gateway platform will be closing on February 23, 2026. Starting today, Nifty Gateway is in withdrawal-only mode.
— Nifty Gateway Studio (@niftygateway) January 24, 2026
Nifty Gateway was launched in 2020 with the vision of revolutionizing digital art. Since launching, Nifty supported dozens of…
Sudden Shutdown, Limited Clarity
The announcement of Nifty Gateway’s closure arrived with little advance notice and minimal operational detail. The platform has entered a “withdrawal-only” mode, leaving users scrambling for clarity around asset withdrawals, smart contract guarantees, and long-term access to artworks minted or held within its custodial system.
Artist and collector Bryan Brinkman, who has been active in the space since its early days, voiced widespread frustration.
Brinkman estimates that around 500 works from his releases remain in collectors’ Nifty Gateway custodial wallets, though he has already withdrawn his personal holdings.
From Curated Art to Market Pressures
Nifty Gateway’s early success was built on carefully curated art drops, but as the NFT market evolved, speculative profile picture (PFP) collections like CryptoPunks and Bored Ape Yacht Club began to dominate volumes. Liquidity and rapid trading took precedence over curated art, shifting attention to permissionless marketplaces like OpenSea.
Despite improvements to smart contracts, critics argue that centralized custody remained a structural weakness, one that is now front and center as the shutdown approaches.
Custody Risks Become Real
The closure has intensified long-standing warnings about custodial NFT platforms, where users do not directly control their assets. It remains unclear whether collectors will be able to withdraw NFTs after February 23, a question that has gone unanswered despite inquiries to both Nifty Gateway and Gemini.
For many artists, this uncertainty highlights why the ecosystem has increasingly shifted toward self-custody, on-chain permanence, and decentralized infrastructure.
A Complicated but Lasting Legacy
Despite the frustration, many artists still credit Nifty Gateway with shaping their careers. Brinkman acknowledged that his releases on the platform were pivotal moments, and praised the producers who helped define its early success.
NFT sales may be far below their 2021–2022 highs, but the ecosystem has matured. As Nifty Gateway fades into history, its influence remains embedded in today’s platforms and practices.
