Coinbase acquired Spindl, an onchain ads and attribution platform, to boost onchain app adoption.
As part of the agreement, Spindl will be incorporated into Base, which is Coinbase’s layer 2 blockchain. The purpose of this integration is to enhance the discovery and distribution capabilities of onchain developers.
Built in 2022 by Antonio Garcia-Martinez, a former member of the Facebook advertisements team, Spindl is a company that specializes in the reconstruction of ad technology infrastructure for the blockchain economy.
Garcia-Martinez was essential in the organization of Facebook’s early ad targeting and exchange systems, which he helped to design. One of the primary focuses of his work with Spindl has been to find solutions to problems that arise in the process of user acquisition and engagement for decentralized applications.
In its announcement, Coinbase included the following statement, “As we’ve mentioned in the past, there’s a natural flywheel here. We support developers who build onchain apps, those apps attract users onchain, and having more users incentivizes more developers to build onchain.”
The quicker we are able to spin this flywheel, the simpler it will be to attract an increasing number of individuals onto the blockchain. Spindl will continue to provide support to its existing customers after the acquisition while simultaneously aligning its operations with the infrastructure of Base.
As a means of fostering an ecosystem that is both equitable and scalable, Coinbase stressed its dedication to upholding open standards for advertisers and publishers.
Through the implementation of this change, Coinbase intends to expand its position within the onchain economy by increasing the exposure of decentralized applications and the number of users it acquires.
