CoinGecko Acquires Zash - NFT Data Startup
Date: 2023-12-04 Author: Dima Zakharov Categories: BUSINESS
CoinGecko's Big Move
CoinGecko, a leading crypto data aggregator, has shaken the industry by acquiring the NFT data startup Zash. This significant acquisition is aimed at integrating Zash's NFT data into CoinGecko's platform by the second quarter of the upcoming year.
The Acquisition Details
While the exact terms of the deal remain undisclosed, CoinGecko revealed that Web3 Studios served as the financial advisor for the acquisition. Zash, founded in 2021 at Entrepreneur First, a European startup accelerator, caught the attention of CoinGecko due to its unique approach to NFT data provision.
Zash's Evolution
Initially established for social investment applications relying on real network and broker data, Zash shifted its focus to NFT data due to the lack of reliable blockchain information, particularly for NFTs. Currently, Zash provides NFT data across 87 trading platforms on various blockchains including Ethereum, Polygon, Solana, and Bitcoin Ordinals.
CoinGecko's Perspective
T.M. Lee, co-founder, and CEO of CoinGecko expressed high regard for Zash's exceptional offering in the NFT data sphere. Lee praised Zash's comprehensive coverage and successful commercialization among top-tier clients despite operating with a small team over the past three years.
Integration and Team
The Zash team will be assimilated into CoinGecko following the acquisition. Although specifics about the team size were not disclosed by CoinGecko's COO, Bobby Ong, LinkedIn reports that Zash operates with a team of up to 10 individuals. The acquisition's financial details were also kept under wraps, but Zash had previously secured undisclosed funding in a pre-seed round earlier this year.
CoinGecko's Standing
Founded in 2014, CoinGecko stands as a prominent competitor in the crypto world alongside platforms like CoinMarketCap, which was acquired by Binance for an estimated $400 million in 2020.
