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Coinbase Strengthens Onchain Marketing with Spindl
Crypto exchange Coinbase has acquired Spindl, an onchain advertising platform, to help projects on its Ethereum layer-2 network, Base gain more visibility. This move aims to solve the “onchain discovery problem,” making it easier for developers to reach new users.
Facebook’s Ad Strategy, Now for Blockchain
Spindl was founded by Antonio García Martínez, who helped create Facebook’s original advertising platform. According to Jesse Pollak, creator of Base, Spindl has rebuilt ad tech using smart contracts, making it fully onchain. This technology is designed to boost blockchain projects in the same way Facebook ads helped small businesses expand.
Pollak highlighted that Spindl gives developers tools to reach a wider audience and gain traction.
Coinbase’s Bet on Onchain Ads
Shan Aggarwal, Coinbase’s head of business development, emphasized that Spindl’s advertising protocol connects builders with their ideal users while also making onchain exploration easier for everyone.
Investor Eric Seufert, one of Spindl’s early backers, met García Martínez when he appeared on the Joe Rogan podcast. Seufert was convinced by Spindl’s approach to onchain attribution and ad measurement and decided to invest in the project.
Tokenized Stocks: Coinbase’s Next Move
Coinbase is also considering offering tokenized shares of its stock to U.S. Base users. Currently, these tokenized COIN shares are only available internationally through platforms like Backed, which focuses on real-world assets (RWA). Pollak confirmed that making COIN shares available to U.S. investors is on Coinbase’s radar for 2024.
