Coinbase acquires Spindl to improve on-chain advertising capabilities

Coinbase has announced its acquisition of Spindl, an onchain ads and attribution platform, to advance its strategy of driving the adoption of onchain applications.

As part of the deal, Spindl will be integrated into Base, Coinbase’s layer 2 blockchain, aiming to improve the discovery and distribution channels for developers building onchain applications.

Founded in 2022 by Antonio Garcia-Martinez, a former member of Facebook’s ads team, Spindl specializes in developing advertising technology for the onchain economy. Garcia-Martinez, known for his pivotal role in the creation of Facebook’s ad targeting and exchange systems, has focused his work at Spindl on overcoming challenges related to user acquisition and engagement for decentralized applications.

In its announcement, Coinbase highlighted the synergy between its platform and Spindl’s expertise, stating, “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.” Coinbase added that the goal is to accelerate this flywheel, making it easier to onboard more users and developers into the onchain ecosystem.

Following the acquisition, Spindl will continue to serve its current clients while aligning its operations with Base’s infrastructure. Coinbase reiterated its commitment to maintaining open standards for both advertisers and publishers, fostering a fair and scalable ecosystem.

This acquisition is a strategic move by Coinbase to enhance its presence in the onchain economy, improving visibility and user acquisition for decentralized applications. By integrating Spindl’s advertising technology, Coinbase aims to make it easier for onchain developers to reach users and grow their projects.