CoinGecko Expands Offering with Zash Acquisition
After a lull period and suffering in the recent past, finally there is some glimmer of hope in the space of non-fungible token (NFTs) is apparent….why I am saying this is the piece of news that has hit the digital media platform…
I am talking about the Crypto data aggregator CoinGecko making its first acquisition by purchasing NFT data startup Zash. This is not an idea to suggest a big positive development, but a much needed small step in that direction….
So what is the deal….CoinGecko plans to incorporate Zash’s NFT data into its platform by the second quarter of next year, the firm said Wednesday. Though, much of the deal terms weren’t disclosed; but all that the CoinGecko said is, Web3 Studios served as the financial advisor for the transaction.
Zash was Founded by CEO, Parit Patel and CTO, Efe Surekli in 2021. Zash provides enterprise-grade, indexed NFT data across 87 unique marketplaces on Ethereum, Polygon, Binance Smart Chain, Solana and Bitcoin Ordinals. Zash covers NFT metadata, historical trades and lending data, and additionally deploys advanced data science techniques through its proprietary algorithms to detect wash trades at scale.
Zash initially created a social investing app “verified by real on-chain and broker data” but pivoted to NFT data due to a lack of reliable and accurate blockchain data, specifically for NFTs…..interesting stuff…
Meanwhile, the Zash team will join CoinGecko as part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to disclose the size of the team, but LinkedIn shows Zash employs up to 10 members. Ong also declined to comment on the size of the deal, but Zash was at a pre-seed funding round level in February this year when it raised an undisclosed amount from some investors, including Cogitent Ventures and WWVentures, according to Crunchbase data.
CoinGecko was founded in 2014 and competes with the likes of CoinMarketCap, which Binance acquired in 2020 for around $400 million.
So here are some of interesting development that are likely to shape-in post-deal.
CoinGecko will incorporate new endpoints into crypto data API by Q2 2024, covering:
Enterprise-grade, indexed NFT data across Ethereum, Polygon, Binance Smart Chain, Bitcoin Ordinals and Solana
NFT metadata and historical trades
NFT lending data indexing Blend, X2Y2, NFTfi and more
Wash trading detection for major collections on Ethereum
If you’re interested in trying out these new NFT data API endpoints, do sign up to get waitlisted.
Additionally, Zash’s NFT data infrastructure will be incrementally incorporated into our NFT floor price tracker next year.
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