CoinGecko has successfully acquired the NFT data infrastructure platform, Zash. The acquisition reflects CoinGecko’s optimistic outlook on the NFT market, signaling its commitment to further enriching its crypto data services.
Integration of Zash’s NFT Data into CoinGecko’s API
CoinGecko plans to seamlessly integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of 2024. This integration aims to provide API users with a unified crypto data experience, allowing them to access both fungible and nonfungible token data effortlessly.
According to Bobby Ong, CoinGecko’s co-founder and COO, users of CoinGecko’s web and mobile app will also benefit from the acquisition. The on-chain NFT data will be accessible through the NFT floor price tracker, offering enhanced crypto market insights to front-end users.
Zash’s Comprehensive NFT Data
Zash, founded in 2021, operates an enterprise-grade NFT indexer and API, covering 87 unique marketplaces and a total of 102 marketplaces. The data includes secondary sales, bundled trades, settlement in 12 currencies, and spans ERC-721 and ERC-1155 token standards, making it over four times more extensive than alternatives.
Despite a noticeable decline in the NFT market, CoinGecko remains bullish on the industry. Ong expresses a strong belief in the continuous innovation of NFTs beyond PFPs and GameFi, foreseeing new opportunities and use cases worldwide. CoinGecko sees the current market situation not as a distress signal but as a maturation phase for NFT technology.
Strategic Approach Post Binance Acquisition of CoinMarketCap
Since Binance’s acquisition of CoinGecko’s major competitor, CoinMarketCap, in 2020, CoinGecko has been open to acquisitions. The move to acquire Zash aligns with CoinGecko’s long-term strategy, preparing for the eventual bull run anticipated in the cryptocurrency market.
CoinGecko, anticipating its third crypto winter, remains focused on continuous improvement to position itself for future success. The acquisition of Zash reaffirms CoinGecko’s commitment to staying at the forefront of crypto data services.