Quick tech:
- Spindl is developing an on-chain ads and attribution tech stack to address the on-chain discovery problem for on-chain builders.
- Spindl will operate under Coinbase’s Ethereum L2, Base, and will continue to support current customers without interruption.
- Antonio Garcia-Martinez, who before pivoting to crypto ran Facebook’s programmatic ad exchange (FBX), founded Spindl in 2022.
Coinbase has acquired on-chain ad tech and distribution platform Spindl. The crypto exchange company said its goal is to help blockchain developers go viral and bring more people on-chain.
“We support developers who build on-chain apps, those apps attract users on-chain, and having more users incentivizes more developers to build on-chain. And the faster we spin this flywheel, the easier it will be to bring more and more people on-chain. Builder virality is the thing that spins that flywheel faster,” Coinbase wrote in a blog post.
Spindl is developing an on-chain ads and attribution tech stack to address the on-chain discovery problem for on-chain builders. According to the announcement on the Coinbase blog, the on-chain ad tech startup will operate under Coinbase’s Ethereum L2, Base, and will continue to support current customers without interruption.
Founded by Antonio Garcia-Martinez in 2022, Spindl will help connect both Base and builders more broadly with distribution across the ecosystem. Garcia-Martinez is renowned for creating Facebook’s first version of keyword targeting, audience targeting, and Facebook’s programmatic ad exchange FBX.
Coinbase plans to integrate Spindl’s technology and team into Base, creating an open ecosystem for both publishers and advertisers. “These principles will help us scale the ecosystem while keeping it open, fair and inclusive for everyone,” the company said.
Coinbase lauded the Spindl team’s “unmatched expertise in on-chain advertising, helping builders accelerate their reach,” adding that “their work will be crucial to expanding the ways we elevate and support builders.”
The announcement comes just days after Coinbase secured a Virtual Asset Service Provider registration from Argentina’s National Securities Commission.
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