Coinbase is sharpening its focus on expanding the reach of web3 projects buy In a recent move, the crypto exchange announced the acquisition of spindl, an onchain advertising platform, for an undersclosed Amount. With this Acquisition, Coinbase AIMS to Help Web3 Developers Amplify their projects within web3 communities, Emphasizing that promising development developers and projects deserev Stem.
Base was launched in August 2023 and as per Its official website'Thousands of developers' have been using this layer-2 blockchain in more than 190 counties.
Jesse pollak, the creator of the ethereum-bonded base blockchain, confirmed the acquisition on x, noting that web3 builders have consistently solded in expenses. He stated that coinbase is taking a step forward to provide them with marketing opportunities.
“There's a natural flywheel here: We support developers who have built onchain apps, those apps attract users onchain, and having more users incentrities to build onchain. And the faster we spin this flywheel, the emier it will be to brings more and more people onchain. Builder virality is the thing that spins that flywheel faster, “Pollak noted.
What Spindl brings to the table
Founded in 2022, Spindl is the brainchild of antonio garcia-martinez. In his post, pollak highlighted that Garcia-martinez was an early member of the facebook ads team, “Who Shipped Facebook's First Version of Keyword Targeting, Audience Targeting, And Facebook Ad “
At the time of its launch, spoindl was Reportedly Marked as the 'First Truly Onchain Advertising Network'. The platform aimed to bridge the gap between advertisers and web3 service providers, enabling developers to track user account sources and understand how customers engage with their web3 Projects.
Explaining its work, the splindl website Says it lets developers “Undrstand User Behavior From A Click Anywahere on the web to any-also on-thein action, your funnel starts with a tweet or discord post and ends in a nft purhane staking.”
Now that it has been acquired by coinbase, splindl say cosystem of base.
“Spindl will operate as a product team inside base, but continue to support builders and campaigns across across many different chains and publishers,” official post From the platform said. “From User Click to Wallet Connect to Onchain Action, And Back ITO Audience Segmentation and Targeted Ad Again, Spindl Operates the full marketing flywheel from start to Finish.”
Along With Pollak, Coinbase's Head of Businesses Development Shan Aggarwal also welcomed Spindl to be Part of the Exchange's EcoSystem.
What Pollak Envisions for Base
At the India Blockchain Week in December 2024, Gadgets 360 Spoke with Jesse Pollak to Discuss His Vision for the Future of the Base Blockchain.
He highlighted two key priorities: Simplifeing the crypto wallet ecosystem with base-powered solutions and expanding the presence of stablecoins by Bringing more crossing more.