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Crypto exchange Coinbase has acquired Spindl, a platform specializing in onchain advertising and attribution. This acquisition is part of a broader strategy to expand opportunities for projects built on Base, Coinbase’s Ethereum layer-2 network.
Coinbase stated that the acquisition of Spindl aims to address the onchain discovery challenge for developers building within the blockchain ecosystem.
In a video posted on X, Base creator Jesse Pollak noted that Spindl's founder, Antonio García Martínez, was previously part of the team behind Facebook’s original ad platform. This technology played a crucial role in scaling Facebook and helping small businesses and other users achieve viral growth.
"Now they’re doing it again onchain, building everything from the ground up in smart contracts and helping developers go viral right now," Pollak said.
According to him, Spindl will provide developers with the necessary tools to attract new users.
Other reactions to the deal
This idea was echoed by Coinbase’s head of business development, Shan Aggarwal, who emphasized in an X post that the acquisition of Spindl will help developers reach their target audience and make their projects go viral.
"Spindl has built the first truly robust onchain advertising protocol that helps builders find their audience, and users discover more exciting things to do onchain. A win-win for everyone," Aggarwal stated.
One of Spindl's early investors, Eric Seufert of Heracles Capital, shared that he first met García Martínez when the latter visited Austin to appear on Joe Rogan’s podcast. After discussing onchain attribution and measurement, Seufert decided to invest in the project.
"I committed to investing. I’m excited to see how the Spindl team will advance advertising in collaboration with Coinbase," Seufert said.
Earlier, Coinbase Derivatives filed an application to list futures contracts for Solana and Hedera.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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