CoinGecko cryptocurrency tracking website has acquired the NFT data infrastructure platform Zash as the firm expands its data offering.
By acquiring Zash, a major cryptocurrency monitoring website, CoinGecko is expanding its data offering. Zash is an infrastructure platform for nonfungible token (NFT) data.
The firm announced on November 21 that CoinGecko intends to incorporate Zash’s NFT data into its Application Programming Interface (API) by the end of the second quarter of 2024. The terms of the agreement have yet to be made public.
“API users will have access to a unified crypto data offering that provides enriched crypto market insights and seamless access to fungible and nonfungible token data,” Bobby Ong, co-founder and chief operating officer of CoinGecko, told Cointelegraph.
Next year, front-end consumers of CoinGecko’s mobile and web applications will also have access to on-chain NFT data via the NFT floor price tracker, according to the executive.
CoinGecko provided no information regarding the purchase price of Zash. Since its inception in 2021, Zash has provided users access to an API and enterprise-grade NFT indexer that enables them to monitor NFT data across 102 marketplaces, including 87 marketplaces unique to Zash, the largest NFT exchange.
“In addition to bundled trades and secondary sales, Zash’s data includes ERC-1155 and ERC-721 token standards, settlement conversions in 12 currencies, and ERC-721,” Ong said, adding that Zash’s coverage is “more than four times that of alternatives.”
Despite a significant decline in the NFT market, sometimes interpreted as indicating that the NFT technology is maturing rather than a sign of distress, CoinGecko has recently entered the NFT market. Ong stated that CoinGecko maintains a bullish stance on the NFT sector in defiance of the ongoing market decline:
“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. For that reason, we’re optimistic about the NFT market’s resurgence.”
Following the 2020 acquisition of CoinGecko’s principal competitor, CoinMarketCap, by Binance, CoinGecko remained receptive to acquisitions until July 2022. Nevertheless, the organization contemplated possible investments with a long-term rather than a short-term perspective.
“As this represents our third crypto winter, our primary objective is to enhance CoinGecko in anticipation of the eventual resurgence of bullish sentiment,” the company’s representatives stated.
