Coinbase Acquires Spindl to Boost On-Chain Ad Platform

Coinbase, a leading cryptocurrency exchange, has announced its acquisition of Spindl, an on-chain advertising platform. The deal, set to close in the near future, will see Spindl integrated into Base, Coinbase's layer 2 blockchain. The primary goal is to improve discovery and distribution for on-chain developers, fostering a more robust ecosystem for decentralized applications (dApps).

Founded in 2022 by Antonio Garcia-Martinez, a former Facebook ads team member, Spindl specializes in rebuilding ad tech infrastructure for the on-chain economy. Garcia-Martinez, who played a key role in developing Facebook's early ad targeting and exchange systems, has focused his work with Spindl on addressing challenges related to user acquisition and engagement for dApps.

In its announcement, Coinbase emphasized the natural flywheel effect of supporting developers who build on-chain apps, attracting users, and incentivizing more developers to build on-chain. The faster this flywheel spins, the easier it will be to bring more people into the on-chain ecosystem.

Following the acquisition, Spindl will continue supporting its existing customers while aligning its operations with Base's infrastructure. Coinbase has committed to maintaining open standards for advertisers and publishers, fostering a fair and scalable ecosystem.

Through this move, Coinbase aims to strengthen its role in the on-chain economy by enhancing visibility and user acquisition for dApps. By integrating Spindl's advertising platform into Base, Coinbase seeks to create a more vibrant and accessible on-chain ecosystem, benefiting both developers and users alike.