Source: iStock
Crypto-price aggregator CoinGecko has acquired Zash – a non-fungible token (NFT) data infrastructure platform – to help bring data monitoring for both fungible and non-fungible tokens under one roof.
Terms of the deal remain undisclosed, but it marks the first of its kind for the popular rival to CoinMarketCap, both of which boast some of the highest site traffic in the industry. The latter company has already been acquired by Binance, the world’s largest crypto exchange.
CoinGecko tracks activity for over 11,000 cryptocurrencies traded across 900 exchanges, including data like price, volume, and circulating supply.
Meanwhile, Zash includes historical trade and lending data from 87 unique NFT marketplaces across Ethereum, Polygon, BNB Smart Chain, Solana, and Bitcoin Ordinals.
“As founders, we are wholeheartedly committed to a seamless transition until January, after which we’ll be exploring new opportunities in the burgeoning year ahead,” wrote Zash in its announcement about the acquisition on Wednesday.
Zash’s partners and clients will be able to use CoinGecko’s data API, which is already used by firms like MetaMask, Crypto.com, and Etherscan.
According to CoinGecko’s announcement, the firm plans to integrate Zash’s infrastructure data for NFTs into its own API by Q2 2024. This will include NFT metadata and historical trades, NFT lending data, and wash trading detection for Ethereum’s major collections.
1/ We believe that #NFTs will continue to unlock new opportunities globally. Acquiring Zash will allow us to supply you with fungible & non-fungible token data seamlessly, in one integrated offering.
We’re committed to delivering reliable & comprehensive crypto data, to you.
— CoinGecko (@coingecko) November 22, 2023
Why CoinGecko Chose Zash
Zash’s infrastructure will also be incrementally integrated into CoinGecko’s existing NFT floor price tracker – which assigns a “market cap” to NFT collections based on their lowest value item.
“After evaluating all existing NFT data providers in the space, Zash stands out as unparalleled,” said CoinGecko CEO TM Lee in a statement. “They have built a remarkable product with the most comprehensive NFT data coverage in the market.”
In an interview with CoinTelegraph, CoinGecko co-founder and chief operating officer Bobby Ong said that Zash’s coverage is “over four times more” than alternative NFT data providers. It encompasses bundled trades, and secondary sales, converts settlement in 12 currencies, and tracks both ERC-721 and ERC-1155 token standards.
Despite a massive drawdown in NFT valuations since early last year, Ong said the company remains bullish on a rebound, maintaining optimism on the long-term potential of tokenization. He stated:
“We hold the vision where any asset that can be tokenized, will be tokenized. We believe that NFTs will continue to innovate beyond PFPs, GameFi and unlock new opportunities and use cases worldwide.”
The post CoinGecko Expands Services with Acquisition of NFT Data Provider Zash appeared first on Cryptonews.
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