Crypto knowledge aggregator CoinGecko has made its first acquisition by buying NFT knowledge startup Zash.
CoinGecko plans to include Zash’s NFT knowledge into its platform by the second quarter of subsequent yr, the agency mentioned Wednesday. The deal phrases weren’t disclosed; Web3 Studios served because the monetary advisor for the transaction, CoinGecko mentioned.
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 knowledge” however pivoted to NFT knowledge as a result of an absence of dependable and correct blockchain knowledge, particularly for NFTs. Zash at present supplies NFT knowledge throughout 87 marketplaces on a number of blockchains, together with Ethereum, Polygon, Solana and Bitcoin Ordinals.
“After evaluating all current NFT knowledge suppliers within the area, Zash stands out as unparalleled,” TM Lee, co-founder and CEO of CoinGecko, mentioned in an announcement. “Inside 3 years, they’ve constructed a exceptional product with essentially the most complete NFT knowledge protection available in the market, and commercialized with prime tier shoppers with a lean crew.”
The Zash crew will be part of CoinGecko as a part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to reveal the dimensions of the crew, however LinkedIn exhibits Zash employs as much as 10 members. Ong additionally declined to touch upon the dimensions of the deal, however Zash was at a pre-seed funding spherical degree in February of this yr when it raised an undisclosed quantity from some buyers, together with Cogitent Ventures and WWVentures, in line with Crunchbase knowledge.
CoinGecko was based in 2014 and competes with the likes of CoinMarketCap, which Binance acquired in 2020 for round $400 million.
