Coinbase Acquires Spindl to Enhance Onchain Ad Tech

Coinbase has revealed that it bought Spindl, a platform for on-chain ads and attribution, as part of its plan to boost the use of chain apps.

As per the deal, Spodle will be integrated into Base, Coinbase’s layer 2 blockchain, to help developers get more exposure and users for their on-chain applications.

Paul Grewal welcomed Spindl, Source: X

Paul Grewal, Coinbase’s Chief Legal Officer, welcomed Spindl to the Coinbase family with a playful tweet, jokingly asking Antonio García Martínez to promise him a starring role in the sequel to Chaos Monkeys.

Spindl was founded in 2022 by Antonio Garcia-Martinez, a former member of Facebook’s ads team, and focuses on developing improved ad tech for the onchain world.  His work at Spindl aims to solve problems related to attracting users and engaging them with decentralized apps.

Coinbase explained that supporting developers who create onchain apps attracts users, which then encourages more developers to build more onchain apps. The goal is to keep growing this cycle to bring more people onto the blockchain.

Even after the acquisition, Spindl will continue helping its current clients while aligning its work with Coinbase’s Base infrastructure.

Coinbase emphasized its commitment to keeping standards open for advertisers and publishers, promoting a fair and scalable ecosystem. This move will help Coinbase improve the visibility and user growth of decentralized apps.