November 27, 2023
By Sharan Kaur Phillora
CoinGecko, a prominent crypto data aggregator, has recently acquired Zash, an NFT data infrastructure and intelligence firm, marking a significant expansion in its cryptocurrency data services. This move represents CoinGecko’s first foray into mergers and acquisitions, emphasizing its dedication to broadening its scope in the cryptocurrency data arena.
Here’s what we know:
Zash, established in 2021 by CEO Parit Patel and CTO Efe Surekli, is renowned for providing enterprise-grade, indexed NFT data across numerous marketplaces, including Ethereum, Polygon, Binance Smart Chain, Solana, and Bitcoin Ordinals. This acquisition enables CoinGecko to enhance its data monitoring capabilities for both fungible and non-fungible tokens.
Zash’s expertise lies in on-chain NFT data analytics, where it collects data from over 1 million different NFT collections and marketplaces. The firm offers detailed information on various aspects of NFTs, such as metadata, historical trades, lending, and the detection of large-scale wash trades.
CoinGecko aims to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year, enhancing its offerings to include enterprise-grade, indexed NFT data, NFT metadata, and historical trades on major blockchain platforms such as Ethereum, Polygon, Binance Smart Chain, Bitcoin Ordinals, and Solana.
Additionally, the integration will provide NFT lending data indexing and wash trading detection for major collections on the Ethereum blockchain. This integration is set to solidify CoinGecko’s position as a comprehensive platform for all cryptocurrency data, offering a variety of information relating to NFTs directly on its website and mobile app.
The acquisition comes at a time when interest in NFTs has seen a decline due to the 2022 crypto winter, which significantly impacted the industry. However, both CoinGecko and Zash remain optimistic about the future of NFTs. Parit Patel, co-founder of Zash, expressed confidence in the continued evolution of NFTs, unlocking new use cases globally.
CoinGecko’s co-founder and COO, Bobby Ong, shared similar sentiments, envisioning a future where any asset that can be tokenized will be and predicting a resurgence in the NFT market.
This move by CoinGecko demonstrates a strong commitment to staying ahead in the rapidly evolving digital asset market, particularly in the NFT sector, which continues to show potential despite recent market downturns.
About the author
Sharan Kaur Phillora’s thirst for knowledge has led her to study many different subjects, including NFTs and Blockchain technology – two emerging technologies that will change how we interact with each other in the future. When she isn’t exploring a new idea or concept, she enjoys reading literary masterpieces.
