CoinGecko Acquires NFT Data Platform Zash to Expand Its Business
With this acquisition, CoinGecko plans to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year.
CoinGecko, a major cryptocurrency data tracking company, has acquired Zash, an on-chain data analytics firm that provides information on non-fungible tokens (NFTs) metadata across various platforms.
According to an announcement on November 22, the acquisition aligns with CoinGecko’s vision to become a central hub for cryptocurrency-related information and provide users with a more comprehensive suite of data.
“This acquisition aligns with our commitment and dedication to deliver exceptional value to the crypto community, starting with a unified token and NFT market data offering,” said TM Lee, CEO, and co-founder of CoinGecko.
CoinGecko to Add Support for Zash Next Year
With this acquisition, CoinGecko plans to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year. The move aims to give users access to a variety of information relating to NFTs directly on CoinGecko, solidifying the company’s position as a go-to platform for every crypto data.
Upon successful incorporation of the endpoints into CoinGecko, front-end users of CoinGecko’s web and mobile app will also be able to access the on-chain NFT data through the NFT floor price tracker next year.
The crypto data aggregator plans to offer the following services to its massive user base: enterprise-grade, indexed NFT data, NFT metadata, and historical trades on Ethereum, Polygon, Binance Smart Chain, Bitcoin Ordinals, and Solana. The company will also be providing NFT lending data indexing Blend, X2Y2, and Wash trading detection offerings for major collections on the Ethereum blockchain.
As an NFT data aggregator, Zash was founded by Parit Patel and Efe Surekli in 2021 and the company is based in London, operating as an on-chain NFT data analytics firm gathering information from over 1 million diverse NFT collections and various marketplaces.
Zash’s offerings also include detailed insights into NFT metadata, historical trades, lending activities, and the identification of large-scale wash trades. The startup boasts coverage across 87 blockchain networks, including Ethereum and Solana.
“We celebrate what Zash has built and warmly welcome the team to CoinGecko. Looking ahead, we’re committed to a smooth transition and will continually enhance your crypto data API experience with us,” CoinGecko wrote.
NFTs Will Continue to Evolve
While CoinGecko didn’t disclose the financial aspect of the acquisition, Zash’s co-founder Parit said the company is a better home to preserve the legacy the company has gathered over the years.
Parit also believes that NFTs are still in their early stage and will continue to evolve to unlock new use cases around the world.
“We believe that NFTs will continue to evolve and unlock new use cases globally, creating value for companies and consumers. We foresee our NFT data infrastructure—well-positioned at CoinGecko—playing a pivotal and impactful role in shaping this industry’s future,” said Parit.
The acquisition of the company comes at a time interest in NFTs has decreased due to the 2022 crypto winter which affected the entire industry with Bitcoin (BTC) reaching a low of around $15,000 after its all-time high of nearly $70,000 in the last bull run.
Like Parit, CoinGecko’s co-founder and chief operating officer Bobby Ong is also optimistic about NFTs’ future, noting that digital artworks will again regain interest from investors.
“We hold the vision where any asset that can be tokenized will be tokenized. We believe that NFTs will continue to innovate beyond PFPs, GameFi, and unlock new opportunities and use cases worldwide. For that reason, we’re optimistic about the NFT market’s resurgence,” Ong told Cointelegraph.
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