Coinbase Acquires Ad Tech Startup Spindl to Boost On-Chain App Discovery and Growth

Coinbase is making a strategic move to enhance the on-chain ecosystem by acquiring Spindl, a startup specializing in on-chain advertising and attribution. This acquisition signals Coinbase's commitment to supporting developers building on-chain applications and accelerating the adoption of Web3 technologies, with a particular focus on its own Layer 2 network, Base.

Solving the Discovery Problem: Spindl's Tech to Help On-Chain Apps Go Viral

Spindl, founded by Antonio Garcia-Martinez, a former Facebook ads team member, has been focused on solving the "on-chain distribution problem" that many developers face. Their platform helps track and attribute the effectiveness of on-chain advertising, providing valuable insights for builders seeking to grow their user base.

Integrating with Base: A New Home for Spindl

As part of the acquisition, Spindl will operate under Base, Coinbase's Ethereum Layer 2 network. The integration aims to leverage Spindl's technology to connect developers with distribution channels across the broader on-chain ecosystem, including Coinbase users. Importantly, Coinbase has committed to maintaining open standards for publishers and advertisers within the Base ecosystem, ensuring a fair and inclusive environment.

The Flywheel Effect: Supporting Developers to Attract Users

Coinbase's vision is to bring one billion users on-chain, and supporting developers is a key part of that strategy. The company sees a "natural flywheel" effect: by supporting developers, they attract more users to on-chain apps, which in turn incentivizes more developers to build on-chain. Spindl's technology is expected to accelerate this flywheel, making it easier for builders to achieve viral growth.

A Powerhouse Team: Spindl's Expertise in On-Chain Advertising

The Spindl team brings significant expertise in on-chain advertising, and their work is expected to play a crucial role in expanding the ways Coinbase supports and elevates developers building on Base and beyond.