Expanding Data Offering
CoinGecko is expanding its data offering by acquiring the NFT data infrastructure platform Zash. The plan is to integrate Zash’s NFT data into its API by the second quarter of 2024, allowing users to access fungible and nonfungible token data seamlessly. Front-end users of CoinGecko’s web and mobile app will also be able to access on-chain NFT data through the NFT floor price tracker next year.
CoinGecko’s Acquisition
Zash, founded in 2021, operates an enterprise-grade NFT indexer and API, allowing users to track NFT data across 87 unique marketplaces or a total of 102 marketplaces, including the major NFT exchange OpenSea. Zash’s data also encompasses secondary sales, bundled trades, converts settlement in 12 currencies and encompass ERC-721 and ERC-1155 token standards, giving it a wider coverage than alternatives.
Optimism Despite Market Decline
CoinGecko’s latest move into the NFT market is bold, coming despite a significant decline in the NFT market. CoinGecko is bullish on the NFT industry, holding the vision where any asset that can be tokenized, will be tokenized. The firm believes NFTs will continue to innovate beyond PFPs, GameFi, and unlock new opportunities and use cases worldwide.
Potential Acquisitions
After Binance acquired CoinGecko’s major competitor, CoinMarketCap, in 2020, CoinGecko was also open to acquisitions as of July 2022. However, the firm was considering potential acquisitions in the long term rather than in the short term.
Hot Take: CoinGecko’s NFT Data Expansion
CoinGecko’s acquisition of Zash to expand its NFT data offering shows the firm’s commitment to providing comprehensive cryptocurrency market insights. By integrating Zash’s NFT data into its API, CoinGecko is ensuring that users can seamlessly access a wealth of data on both fungible and nonfungible tokens, projecting a positive outlook for the growing NFT market. This move also demonstrates CoinGecko’s long-term strategy to stay competitive in the crypto data space.
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