Nifty Gateway pledges permanent NFT hosting

Grafa
Nifty Gateway pledges permanent NFT hosting
Nifty Gateway pledges permanent NFT hosting
Bloomberg
Written by Bloomberg
Share

Nifty Gateway has pledged permanent hosting of NFT metadata and media as it winds down operations, seeking to protect user assets after the platform shuts.

The Gemini-owned marketplace said most NFTs will remain accessible indefinitely even after closure, addressing concerns from collectors about long-term asset preservation.

For older NFTs whose data is tied to its own servers, the company said it will maintain hosting rather than migrate them off-platform.

In a Tuesday post on X, Nifty Gateway said it plans to move most metadata and media to Arweave, a decentralised blockchain-based storage network designed for permanent archival.

“We will continue to host the metadata indefinitely,”

The company said, referring to a subset of NFTs minted in 2021 or earlier that cannot be migrated.

Nifty Gateway has extended its withdrawal deadline to April 23, giving users a 90-day window to move assets and confirming it is building a bulk withdrawal tool for collectors with multiple NFTs.

Acquired by Gemini in 2019, Nifty Gateway rose to prominence during the 2021 NFT boom but has struggled amid a prolonged downturn in NFT trading volumes.

Connect with us

Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relate to your unique circumstances.

Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of or reliance on the information provided directly or indirectly, by use of this platform.