CoinMarketCap’s rival CoinGecko has acquired NFT startup Zash
Major cryptocurrency tracking website CoinGecko is expanding its data offering by acquiring non-vulnerable token (NFT) data infrastructure platform Zash.
CoinGecko plans to integrate Zash NFT data into its Application Programming Interface (API) in the second quarter of 2024.
CoinGecko co-founder and chief operating officer Bobby Ong told Cointelegraph, “API users can enjoy a unified supply of crypto data.
According to the executive, CoinGecko web and mobile app front-end users will also be able to access on-chain NFT data via the NFT floor price tracker next year.
CoinGecko did not disclose Zash acquisition costs to Cointelegraph. In the year Founded in 2021, Zash operates an enterprise-grade NFT index and API, allowing users to track 87 unique marketplaces – or 102 marketplaces in total – just like the main NFT exchange OpenSea.
“Zash data includes secondary sales, bundled transactions, exchange in 12 currencies and ERC-721 and ERC-1155 token standards,” Ong said.
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CoinGecko's latest move into the NFT market comes despite a sharp decline in the NFT market, which is sometimes interpreted as a maturing NFT technology rather than a sign of concern. CoinGecko is bullish on the NFT industry despite the ongoing market downturn, Ong said.
“We have a vision where any asset that can be a token becomes a token. We believe NFTs will continue to innovate beyond PFPs, GameFi and open up new opportunities and use cases globally. For this reason, we hope that NFT will continue to grow.
After Binance acquired CoinGecko's main competitor CoinMarketCap in 2020, CoinGecko has been open for acquisitions since July 2022. However, the company was considering potential acquisitions in the long term rather than the short term.
“This will be our third crypto summer, and we will focus on improving CoinGecko to prepare for the final bull run,” CoinGecko's Ong told Cointelegraph last year.
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