Haciyev Reşit 
The contraction in the cryptocurrency and NFT ecosystem continues to affect leading platforms across the sector. Nifty Gateway, once one of the most talked-about platforms in the NFT market, announced with a sudden decision that it will completely shut down its operations. The closure is being viewed as one of the clearest signs of the prolonged stagnation in the NFT market.
Nifty Gateway to Shut Down on February 23, 2026
One of the early companies in the NFT market, Nifty Gateway, officially announced that the platform will fully shut down on February 23, 2026. Along with the announcement, the platform has been closed to all trading and listing activities and switched to a “withdrawal-only mode.” This step indicates that the shutdown process will be carried out in a controlled and user-focused manner.
Under this decision, users will no longer be able to buy or sell new NFTs. Users who hold balances or NFTs on the platform will only be able to withdraw their existing assets. The company emphasized that the process must be carefully followed to ensure that users do not experience any loss of rights.
In its statement, the company noted that users holding USD or ETH balances or owning NFTs will receive detailed instructions via email on how to transfer their assets. Officials stressed that users must take the necessary steps within the specified timeframe to avoid any loss. The shutdown process is expected to be managed in a controlled manner.
From NFT Frenzy to Stagnation
Nifty Gateway gained significant popularity during the NFT boom of 2020–2021. Many high-profile NFT collections released by digital artists, celebrities, and major brands were launched on the platform. During that period, Nifty Gateway became one of the central hubs of the NFT ecosystem. However, in recent years, the sharp decline in interest in NFTs, falling trading volumes, and user activity dropping almost to a standstill have put significant pressure on platforms like Nifty Gateway.
Nifty Gateway was acquired by the cryptocurrency exchange Gemini in 2019. The decision to shut down the platform also stands out as it coincides with a period in which the long-running legal process between Gemini and the U.S. Securities and Exchange Commission (SEC) has come to an end. Although no direct connection has been established between the two, this timing is seen as an important indicator of the restructuring process taking place in the crypto sector.
Evaluation
The shutdown of Nifty Gateway clearly shows how far the NFT market has moved away from its former vibrancy. The fact that even platforms that once shaped the industry are being forced to cease operations indicates that the NFT ecosystem is undergoing a permanent transformation. In the coming period, only projects that offer real utility and have sustainable business models are expected to survive.
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