Major cryptocurrency tracking website CoinGecko is expanding its data offering by acquiring non-fungible token (nft) data infrastructure platform Zash.
CoinGecko plans to integrate Zash’s nft data into its application programming interface (API) by the second quarter of 2024, the company announced on Nov. 21, although terms of the deal have not been disclosed.
“API users will be able to enjoy a unified crypto data offering, where they will be able to access fungible and non-fungible token data seamlessly and enjoy rich insights into the crypto market,” CoinGecko co-founder and COO told Cointelegraph , Bobby Ong.
According to the executive, 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 did not disclose the cost of acquiring Zash from Cointelegraph. Founded in 2021, Zash operates an enterprise-grade nft API and indexer, allowing users to track nft data across 87 unique marketplaces, or a total of 102 marketplaces, like leading nft exchange OpenSea.
“Zash data also covers secondary sales, pooled transactions, conversion settlement across 12 currencies and covers ERC-721 and ERC-1155 token standards,” Ong noted, adding that Zash’s coverage is “more than four times greater than that of the alternatives”.
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CoinGecko’s latest move into the nft market comes despite a significant drop in the nft market, which is sometimes interpreted as a sign that nft technology is maturing rather than a sign of distress. CoinGecko is bullish on the nft industry despite the current market decline, Ong said, stating:
“We have the vision that any asset that can be tokenized will be tokenized. We believe NFTs will continue to innovate beyond PFPs and GameFi and unlock new opportunities and use cases around the world. For that reason, we are optimistic about the resurgence of the nft market.”
After Binance acquired CoinGecko’s main competitor CoinMarketCap in 2020, CoinGecko was also open to acquisitions starting in July 2022. However, the company was considering potential long-term acquisitions rather than short-term ones.
“This will be our third crypto winter, and we are focused on improving CoinGecko to prepare for the eventual bull run that will return,” CoinGecko’s Ong told Cointelegraph last year.
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