SNEAK PEEK
- CoinGecko acquires NFT data platform Zash to expand its data services.
- The integration of Zash’s NFT data into CoinGecko’s API is planned for the second quarter of 2024.
- CoinGecko’s users will gain direct access to on-chain NFT data, including a new NFT floor price tracker.
CoinGecko, a leading cryptocurrency tracking website, recently announced the acquisition of Zash, an innovative NFT data infrastructure platform, in a strategic expansion of its data services. This move signifies CoinGecko’s continued confidence in the NFT market despite its recent downturn.
CoinGecko plans to enhance its application programming interface (API) by incorporating Zash’s comprehensive NFT data by the second quarter 2024. CoinGecko’s co-founder and chief operating officer, Bobby Ong, emphasized that this integration will provide a unified crypto data experience. Users will have seamless access to fungible and nonfungible token data, enriching their insights into the crypto market.
Moreover, CoinGecko users, both on web and mobile applications, will soon benefit from direct access to on-chain NFT data. This includes an NFT floor price tracker slated for release next year and the acquisition cost of Zash remains undisclosed.Zash, established in 2021, has distinguished itself with an enterprise-grade NFT indexer and API. This tool allows users to track NFT data across an impressive range of 102 marketplaces, including prominent exchanges like OpenSea.
Zash’s data coverage is notably extensive, tracking secondary sales, bundled trades, and settling transactions in 12 different currencies. It also supports both ERC-721 and ERC-1155 token standards. According to Ong, Zash’s data coverage is four times more comprehensive than its competitors.
Despite the NFT market’s significant decline, CoinGecko remains optimistic about its future. Ong expressed a vision where all tokenizable assets will eventually be tokenized, foreseeing continued innovation in the NFT space. This innovation is expected to extend beyond Profile Pictures (PFPs) and Game Finance (GameFi), leading to new global opportunities and use cases.
CoinGecko’s proactive approach follows the 2020 acquisition of its main rival, CoinMarketCap, by Binance. The company had previously expressed openness to purchases, focusing on long-term rather than short-term prospects. As Ong stated in 2022, CoinGecko is preparing for the eventual resurgence of the market, drawing on its experience from previous crypto winters.
This acquisition marks a significant step for CoinGecko’s mission to provide comprehensive and accessible crypto market data. It demonstrates the firm’s commitment to staying at the forefront of the rapidly evolving digital asset landscape.
