- Users of CoinGecko’s platform and mobile application will gain access to the on-chain NFT information.
- CoinGecko remains hopeful about the NFT industry despite the ongoing market slump.
CoinGecko, a prominent cryptocurrency tracking platform, has acquired Zash, a framework for NFT data, in an effort to enhance its data services. Furthermore, CoinGecko announced that it plans to integrate Zash’s NFT data into its API by the second quarter of 2024; however, the financial specifics of the deal were not disclosed.
CoinGecko co-founder and COO Bobby Ong remarked:
“API users will benefit from a consolidated crypto data service, enabling them to access both fungible and nonfungible token data effortlessly while gaining deeper insights into the crypto market.”
Investing in NFTs
Additionally, the Executive mentioned that by early 2024, users of CoinGecko’s website and mobile app will have access to the on-chain NFT data through the NFT floor price tracker.
Ong expressed:
“We envision a future where every asset that can be tokenized will indeed be tokenized. We are confident that NFTs will continue to evolve beyond PFPs and GameFi, unlocking new opportunities and applications globally. Thus, we remain optimistic about the revival of the NFT market.”
Zash, which was established in 2021, is a robust NFT indexer and API that enables clients to track NFT data across 87 different markets (totaling 102 marketplaces), including the largest NFT marketplace, OpenSea.
While the NFT market overall has been experiencing a downturn, CoinGecko’s foray into this domain occurs at a moment when some perceive the trend as a sign of NFT technology’s maturation rather than a signal of crisis. CoinGecko is hopeful about the NFT sector despite the current market downturn.
CoinGecko’s primary competitor, CoinMarketCap, was acquired by the cryptocurrency exchange Binance in 2020. CoinGecko was founded in 2014 by TM Lee (CEO) and Bobby Ong (COO) with the intent of making cryptocurrency data more accessible and providing users with more valuable insights.
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