Crypto data aggregator CoinGecko has made its first acquisition by buying NFT data startup Zash.
CoinGecko plans to incorporate Zash’s NFT data into its platform by the second quarter of next year, the company said Wednesday. Deal terms were not disclosed; Web3 Studios served as financial advisor for the transaction, CoinGecko said.
Zash was founded 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 to 87 marketplaces on various blockchains, including Ethereum, Polygon, Solana, and Bitcoin Ordinals.
“After evaluating all existing NFT data providers in the industry, Zash stands out as unparalleled,” said TM Lee, co-founder and CEO of CoinGecko, in a statement. “Within three years, they built a remarkable product with the most comprehensive NFT data coverage on the market, and commercialized it to top customers with a lean team.”
The Zash team will join CoinGecko as part of the acquisition. CoinGecko co-founder and COO Bobby Ong declined to reveal the size of the team, but LinkedIn shows Zash employs a maximum of 10 members. Ong also declined to comment on the size of the deal, but Zash was at pre-funding round levels in February this year when it raised an undisclosed amount from a number of investors including Cogitent Ventures and WWVentures, according to Crunchbase data.
Founded in 2014, CoinGecko competes with companies like CoinMarketCap, which Binance acquired for around $400 million in 2020.
