Coinbase is promoting its focus on expanding the coverage of its Web3 projects built on its Layer 2 network. In its recent move, the crypto exchange announced the acquisition of Spindl, an OnChain advertising platform, in an undisclosed quantity. With this acquisition, Coinbase aims to help Web3 developers expand their projects in the Web3 community and emphasizes that promising developers and projects deserve to spread development in the Onchain ecosystem.
Base was launched in August 2023 and according to its official website, “thousands of developers” have used the Layer 2 blockchain in more than 190 countries.
Jesse Pollak, the creator of Ethereum-based blockchain, confirmed the acquisition on X, noting that Web3 builders have been seeking support to expand their reach. He said Coinbase is taking a step forward to provide them with marketing opportunities.
“There is a natural flywheel here: we support developers who build OnChain applications that attract users onChain and allow more users to inspire more developers to build OnChain. And we spin the flywheel more quickly Faster, the more likely it is to bring more and more people. The virality of builders is the faster the flywheel spins,” Pollak noted.
What does Spindl bring
Founded in 2022, Spindl is the creative idea of Antonio Garcia-Martinez. Pollak emphasized in his post that Garcia-Martinez was an early member of Facebook’s advertising team, “he shipped out Facebook’s first keyword targeting, audience targeting and Facebook’s programming ad exchange FBX.”
Spindl was reportedly sold as “the first real OnChain advertising network” when it was launched. The platform aims to bridge the gap between advertisers and Web3 service providers, enabling developers to track user acquisition sources and understand how customers interact with their Web3 projects.
Explaining its work, Splindl said that it allows developers to “understand user behavior from anywhere on the web to actions on any chain, whether your funnel starts with tweets or discordant posts and buy in NFT or End in nft. ”
Now that it has been acquired by Coinbase, Splindl said it will use its “flywheel” protocol to get developers to promote their Web3 projects and gain proven driving value in the basic Onchain ecosystem.
“Spindl will operate as a product team inside the base, but continues to support builders and campaigns for many different chains and publishers,” the platform’s official post said. “From the user click to the wallet to connect to OnChain Action, back to Audience segmentation and targeting ads again, Spindl runs a full marketing flywheel from start to finish.”
Shan Aggarwal, head of business development at Coinbase, welcomed Spindl to become part of the exchange ecosystem.
The foundation of Pollak’s vision
During India Blockchain Week in December 2024, Tech Word News talked with Jesse Pollak to discuss his vision for the future of basic blockchains.
He highlighted two key priorities: simplifying the crypto wallet ecosystem with base solutions and expanding the stable stock by making more currencies onChain through changing.
