In a significant move aimed at revolutionizing the onchain advertising landscape, Coinbase has announced its acquisition of Spindl, an innovative onchain advertising and attribution platform. This strategic initiative is designed to address the ongoing “onchain discovery problem” that many project builders face in the expanding ecosystem of its Ethereum layer-2 network, known as Base.
According to Coinbase’s official statement, Spindl is set to play a pivotal role in enhancing visibility for onchain projects. By leveraging a technology stack originally developed for Facebook’s advertising capabilities, Spindl aims to replicate this success within the blockchain environment. Its founder, Antonio García Martínez, who was integral to the creation of Facebook’s ads platform, brings valuable expertise to the team.
Jesse Pollak, creator of Base, emphasized the importance of Spindl’s mission in a January 31 video update, asserting that Spindl will equip builders with essential resources to attract customers and enhance their online presence. This acquisition is not merely about consolidation; it’s about empowering creators in the crypto space. The ultimate goal is to help those building on Base reach a broader audience and ensure their innovations achieve viral status.
Coinbase’s head of business development, Shan Aggarwal, echoed this sentiment, stating that the collaboration is intended to assist builders in identifying their core user base. “Spindl has created the first robust onchain advertising protocol, bridging the gap between builders and their audience, making it a win-win situation,” Aggarwal remarked in a recent post.
The acquisition also caught the attention of industry investors. Eric Seufert of Heracles Capital shared his enthusiasm on social media, revealing that his initial conversation with García Martínez sparked his interest in the unique vision for onchain attribution and measurement. Moving advertising forward in partnership with Coinbase opens promising avenues for both the platform and the builders it aims to serve.
As Coinbase continues to innovate, it recently hinted at possible plans to offer tokenized shares of its stock to US users of Base, suggesting that its initiatives are not just limited to advertising but extend into a broader ecosystem of tokenized assets. These developments indicate a dynamic shift in how blockchain technology interacts with traditional investment mechanisms.
With the launch of Spindl, Coinbase positions itself as a leader in tackling the challenges faced by onchain builders, paving the way for a new era of advertising in the crypto world.
