Nifty Gateway has committed to permanently hosting NFTs after its shutdown, and the withdrawal window has been extended to April 23.
PANews reported on January 27th that, according to The Block, Gemini's NFT trading platform Nifty Gateway has released new details on how it will preserve user NFTs after ceasing operations. The company has pledged to permanently host token metadata and media even after the platform shuts down. Specific plans include migrating most NFT metadata to the decentralized storage network Arweave; for some NFTs minted in 2021 or earlier that are technically impossible to migrate, their metadata will continue to be hosted by the company indefinitely.
In addition, the platform has extended the window for users to withdraw their NFTs to April 23, providing a total of 90 days. The company stated that it is developing a bulk withdrawal tool to help users holding large amounts of NFTs complete asset transfers before the deadline. Nifty Gateway, acquired by Gemini in 2019, rose to prominence during the 2021 NFT boom, but subsequently struggled due to a decline in overall market transaction volume, and entered a withdrawal-only mode earlier this year.
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