Coinbase Strengthens Onchain Presence with Acquisition of Spindl

Coinbase has announced the acquisition of Spindl, an onchain ads and attribution platform, as part of its broader strategy to drive adoption of onchain applications. This move is expected to improve discovery and distribution for onchain developers by integrating Spindl into Base, Coinbase’s layer 2 blockchain.

Spindl’s Background and Expertise

Spindl, founded in 2022 by Antonio Garcia-Martinez, a former Facebook ads team member, specializes in rebuilding ad tech infrastructure for the onchain economy. Garcia-Martinez played a key role in developing Facebook’s early ad targeting and exchange systems. His work with Spindl has focused on addressing challenges related to user acquisition and engagement for decentralized applications.

Coinbase’s Strategy and Goals

According to Coinbase, the acquisition is part of a larger strategy to create a flywheel effect that drives the adoption of onchain applications. As Coinbase stated, “We support developers who build onchain apps, those apps attract users onchain, and having more users incentivizes more developers to build onchain.” The company aims to accelerate this process, making it easier to bring more people into the onchain ecosystem.

“The faster we spin this flywheel, the easier it will be to bring more and more people onchain.”

Post-Acquisition Plans

Following the acquisition, Spindl will continue supporting its existing customers while aligning its operations with Base’s infrastructure. Coinbase emphasized its commitment to maintaining open standards for advertisers and publishers, fostering a fair and scalable ecosystem. With this move, Coinbase aims to strengthen its role in the onchain economy by enhancing visibility and user acquisition for decentralized applications.

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