CoinGecko buys NFT data startup Zash in its first acquisition
Crypto information aggregator CoinGecko has made its first acquisition by buying NFT information startup Zash.
CoinGecko plans to include Zash’s NFT information into its platform by the second quarter of subsequent 12 months, the agency stated Wednesday. The deal phrases weren’t disclosed; Web3 Studios served because the monetary advisor for the transaction, CoinGecko stated.
Zash was based in 2021 at Entrepreneur First, a European startup accelerator backed by veterans together with LinkedIn co-founder Reid Hoffman and Stripe co-founder John Collison. Zash initially created a social investing app “verified by actual on-chain and dealer information” however pivoted to NFT information as a result of a scarcity of dependable and correct blockchain information, particularly for NFTs. Zash at present offers NFT information throughout 87 marketplaces on a number of blockchains, together with Ethereum, Polygon, Solana and Bitcoin Ordinals.
“After evaluating all present NFT information suppliers within the area, Zash stands out as unparalleled,” TM Lee, co-founder and CEO of CoinGecko, stated in a press release. “Inside 3 years, they’ve constructed a exceptional product with essentially the most complete NFT information protection available in the market, and commercialized with high tier shoppers with a lean workforce.”
The Zash workforce will be a part of CoinGecko as a part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to reveal the scale of the workforce, however LinkedIn exhibits Zash employs as much as 10 members. Ong additionally declined to touch upon the scale of the deal, however Zash was at a pre-seed funding spherical degree in February of this 12 months when it raised an undisclosed quantity from some traders, together with Cogitent Ventures and WWVentures, in keeping with Crunchbase information.
CoinGecko was based in 2014 and competes with the likes of CoinMarketCap, which Binance acquired in 2020 for round $400 million.
