This acquisition is a pivotal factor in CoinGecko’s development, marking its initial foray into expanding its cryptocurrency information offerings through the inclusion of NFT data.
Founded in 2021 at the startup accelerator Entrepreneur First, Zash initially gained recognition for providing high-quality NFT data across 87 different markets, spanning various blockchains such as Ethereum, Polygon, Binance Smart Chain, Bitcoin Ordinals, and Solana.
The company, originally focused on a social investment app, shifted its focus to the NFT space due to the lack of reliable blockchain data in this emerging sector.
What The Union of CoinGecko and Zash Brings
The acquisition of Zash enables CoinGecko to provide a more comprehensive and unified offering on its platform. The company’s vision, where any asset that can be tokenized will be tokenized, is reinforced by this acquisition, allowing them to supply integrated data for both fungible and non-fungible tokens.
TM Lee, CEO and co-founder of CoinGecko, highlighted the uniqueness of Zash in the NFT data space, acknowledging the exceptional product that the company has built in just three years. Zash not only offers comprehensive NFT data coverage in the market but also employs advanced data science techniques to detect large-scale fictitious trades, providing valuable information about transaction authenticity.
The integration of Zash into the platform is scheduled for the second quarter of 2024, at which point new endpoints will be added to the data API. These new endpoints will cover NFT data, including metadata, historical trades, and NFT lending data.
Zash’s CEO, Parit Patel, expressed enthusiasm about joining forces with CoinGecko, emphasizing the shared belief in the continuous development and global expansion of NFTs. Zash’s NFT data infrastructure has the potential to become a key component in the CoinGecko ecosystem, playing a fundamental role in the future evolution of the cryptocurrency industry.
With this acquisition, CoinGecko not only strengthens its position in the market but also acquires a new tool to provide more and better information to its users.