Popular crypto exchange, Coinbase, has recently announced its acquisition of Spindl, a platform specializing in onchain advertising and infrastructure. This strategic move is aimed at broadening the scope of projects developed on its Ethereum layer-2 network, Base.
In a statement released on January 31, Coinbase revealed, “We have taken over Spindl, an onchain ads and attribution platform that is reshaping the ad tech stack onchain. This acquisition will significantly enhance the onchain discovery prospects for builders.”
Antonio García Martínez, Spindl’s founder, was an integral part of the team that developed Facebook’s original ads platform. This platform contributed significantly to Facebook’s growth and assisted small businesses and other entities in achieving online virality. Now, Martínez and his team are set to repeat this success but this time, onchain.
Base creator, Jesse Pollak, further elucidated that Spindl is designed to provide builders with the necessary resources to expand their customer base. Shan Aggarwal, Coinbase’s head of business development, echoed this sentiment, stating that the acquisition’s intention is to bolster the capacity of builders to go viral and discover their power users.
Eric Seufert, an investor at Heracles Capital and one of the early supporters of Spindl, stated his excitement to see how Spindl, in collaboration with Coinbase, propels advertising into the future. He decided to fund Spindl after Martínez shared his vision for onchain attribution and measurement.
Interestingly, Coinbase is also considering the introduction of tokenized shares of its stock for US users on Base. Pollak suggested that, while tokenized COIN shares are already accessible to non-US users via platforms like Backed, COIN on Base is a possibility for the upcoming year.
