Coinbase Acquires On-Chain Advertisement Platform Spindl to Help Crypto Developers Go Viral

Top US-based crypto exchange Coinbase is purchasing on-chain advertisement platform Spindl in line with its mission to onboard one billion users.

Coinbase, a leading US-based cryptocurrency exchange, has announced the acquisition of Spindl, an on-chain advertising platform. This move aligns with Coinbase's broader goal of onboarding one billion users, as stated in a recent blog post.

Coinbase aims to enhance the visibility and virality of crypto developers through the Spindl acquisition.

“We talk with builders every day, and a consistent theme always stands out: builders want to go viral and we want to help them do that. As we've said before, there's a natural flywheel here: 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.”

Spindl, founded three years ago by an ex-employee of Facebook's advertising department, will contribute to improving the problem of on-chain discovery for builders, operating directly on Base, Coinbase's proprietary blockchain, the announcement adds.

Coinbase highlights the challenges faced by builders in acquiring quality users and achieving widespread distribution, which can be addressed through virality and targeted advertising.

“The Spindl team brings unmatched expertise in on-chain advertising, helping builders accelerate their reach while bringing more users on-chain by connecting builders with both Coinbase users and users across the on-chain economy.

Their work will be crucial to expanding the ways we elevate and support builders, and we're excited for them to hit the ground running.”