In the rapidly evolving world of cryptocurrencies and non-fungible tokens (NFTs), users often face the challenge of navigating through fragmented data sources. This issue, as highlighted by CoinGecko co-founder Bobby Ong, leads to inefficiencies and increased costs for developers, traders, and researchers.
A One-Stop Solution for Fungible and Non-Fungible Tokens
To tackle this problem, Malaysia-based CoinGecko has made a strategic move by acquiring NFT data infrastructure provider Zash. This acquisition, a first for CoinGecko, aims to offer a comprehensive solution encompassing both fungible and non-fungible tokens. The terms of the deal, however, remain undisclosed.
Zash: Expanding Data Horizons
Founded in 2021, Zash has established itself as a provider of indexed NFT data across multiple marketplaces including Ethereum, Polygon, BNB Smart Chain, Solana, and Bitcoin Ordinals. Zash’s capabilities extend to tracking NFT metadata, historical trade, and lending data, with coverage that is reportedly four times more extensive than its competitors like Bitquery, QuickNode, and Alchemy.
Combating Market Manipulation
An additional feature of Zash’s technology is its ability to detect wash trades, an illegal practice that creates artificial market activity to manipulate prices.
CoinGecko: A Comprehensive Crypto Data Hub
CoinGecko, on the other hand, is known for tracking over 10,000 crypto assets from 900 exchanges. It provides vital data points such as price, trading volume, market value, developer strength, and community statistics.
Synergies and Future Integration
With this acquisition, Zash’s clients and partners will gain access to CoinGecko’s extensive crypto data API, already utilized by major companies like Metamask, Crypto.com, and Etherscan. Ong assures that CoinGecko is committed to maintaining all of Zash’s ongoing service agreements and plans to incorporate Zash’s NFT data infrastructure into its existing API product by the second quarter of 2024.
Streamlining the Crypto Data Landscape
This acquisition marks a significant step for CoinGecko in its mission to streamline the crypto data landscape. By integrating Zash’s NFT data capabilities, CoinGecko is set to enhance the efficiency and accessibility of digital asset information, benefiting a wide range of users in the blockchain ecosystem.
