Nifty Gateway and Foundation are among several venture-backed NFT platforms announcing shutdowns after trading volumes fell roughly 93%, industry sources say. The wave of closures underscores a severe liquidity crunch for creators and collectors.
Gemini’s Nifty Gateway, an early NFT marketplace that helped fuel demand for digital art, will shut down in February. The closure raises immediate questions about custodial holdings, secondary markets, and the preservation of legacy drops.