BNB Chain Sees 1-year Transaction High; Demonstrates Network Reliability After BSC Surge

  • CoinGecko, a prominent cryptocurrency data aggregator, has acquired Zash.
  • Zash is an industry leader in NFT data infrastructure and intelligence.
  • The acquisition aligns with CoinGecko’s vision to tokenize any feasible asset.

Crypto data aggregator CoinGecko has made its first acquisition by purchasing NFT data startup Zash.

CoinGecko plans to incorporate Zash’s NFT data into its platform by the second quarter of next year, the firm said on Wednesday. Although the terms of the deal weren’t disclosed, Web3 Studios served as the financial advisor for the transaction.

About Zash

Zash was founded by CEO Parit Patel and CTO Efe Surekli in 2021 at Entrepreneur First, a European startup accelerator backed by veterans including LinkedIn co-founder Reid Hoffman and Stripe co-founder John Collison. 

Zash initially created a social investing app “verified by real on-chain and broker data” but pivoted to NFT data due to a lack of reliable and accurate blockchain data, specifically for NFTs. 

Zash today provides NFT data across 87 marketplaces on several blockchains, including Ethereum, Polygon, Solana and Bitcoin Ordinals.

See Also: CoinShares Gets Exclusive Rights To Acquire Valkyrie Investments’ Crypto ETF Unit

“After evaluating all existing NFT data providers in the space, Zash stands out as unparalleled,” TM Lee, co-founder and CEO of CoinGecko, said in a statement. “Within 3 years, they have built a remarkable product with the most comprehensive NFT data coverage in the market, and commercialized with top tier clients with a lean team.”

Anticipated Enhancements In Crypto Data API

As a result of this acquisition, CoinGecko has outlined plans to introduce new endpoints to its crypto data API by the second quarter of 2024.

These additions will include enterprise-grade NFT data across multiple blockchains, NFT metadata, historical trades, lending data indexing, and wash trading detection for major Ethereum collections. The incorporation of Zash’s NFT data infrastructure is also expected to enhance CoinGecko’s NFT floor price tracker in the coming year.

This acquisition, driven by the recognition of Zash’s unparalleled capabilities in the NFT data space, underlines CoinGecko’s commitment to delivering exceptional value to the crypto community. For those eager to explore the upcoming NFT data API services, the opportunity to sign up for the waitlist is now available.

The Zash team will join CoinGecko as part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to disclose the size of the team, but LinkedIn shows Zash employs up to about 10 members. 

See Also: Airbnb Acquires AI Startup Gameplanner.AI To Revolutionize Travel

Ong also declined to comment on the size of the deal, but Zash was at a pre-seed funding round level in February of this year when it raised an undisclosed amount from some investors, including Cogitent Ventures and WWVentures, according to Crunchbase data.

CoinGecko was founded in 2014 and competes with the likes of CoinMarketCap, which Binance acquired in 2020 for around $400 million.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *