Cryptocurrency exchange Coinbase purchases Spindl with intentions to construct the most extensive blockchain advertising network.
Coinbase, the leading cryptocurrency exchange, has announced the acquisition of on-chain ad tech and distribution platform Spindl. This move is part of Coinbase’s broader strategy to build a full-stack cryptocurrency ecosystem beyond just an exchange.
Founded by Antonio García Martínez, who is renowned for creating Facebook's first version of keyword targeting, audience targeting, and Facebook’s programmatic ad exchange FBX, Spindl specializes in on-chain advertising solutions. These solutions enable decentralized applications (dApps) and developers to market and distribute their projects more effectively within the blockchain network.
By integrating Spindl with Base, Coinbase's Layer 2 blockchain, the company aims to provide developers with powerful tools to organically grow their user base and increase developer virality on-chain. This will reduce reliance on traditional off-chain marketing and foster more on-chain user interaction and adoption.
The goal of this acquisition is to enhance on-chain advertising capabilities and support blockchain developers in reaching broader audiences. This, in turn, will accelerate user growth on Coinbase's blockchain ecosystem, particularly through its layer-2 Base chain.
Coinbase's blog post states that builder virality is the thing that spins the flywheel faster for bringing more people on-chain. By acquiring Spindl, Coinbase is aiming to help blockchain developers go viral and bring more people on-chain.
This acquisition fits into Coinbase’s ambition to expand from a cryptocurrency exchange into a crypto "empire" with a full ecosystem including its own Layer 2 blockchain (Base), token management platforms, and other infrastructure services. The acquisition of Spindl supports this by creating a more seamless on-chain user growth mechanism, facilitating the scaling up of decentralized applications through enhanced discovery and distribution mechanisms directly on the blockchain.
The integration of Spindl's technology and team into Base will help scale the ecosystem while keeping it open, fair, and inclusive. The principles of the integration will create an open ecosystem for both publishers and advertisers. Spindl will operate under Coinbase's Ethereum L2, Base, and will continue to support current customers without interruption.
This acquisition follows Coinbase securing a Virtual Asset Service Provider registration from Argentina's National Securities Commission, further demonstrating the company's commitment to expanding its reach and services in the crypto space.
In summary, the acquisition of Spindl is a significant step in Coinbase's journey to build a full-stack cryptocurrency ecosystem. By integrating Spindl’s on-chain advertising tech into Base, Coinbase aims to boost blockchain developer reach, virality, and user acquisition on-chain, ultimately accelerating on-chain user growth and developer ecosystem expansion.
- With the integration of Spindl's on-chain advertising technology into Base, Coinbase aims to boost blockchain developer reach, virality, and user acquisition on-chain, providing a platform for news dissemination that caters to the blockchain community.
- This strategic acquisition of Spindl will enhance Coinbase's technology offerings, enabling them to deliver the latest on-chain news to developers and stakeholders within the blockchain network, fostering a more dynamic and interactive ecosystem.
