Coinbase buys Spindl to improve advertising on the blockchain and grow the base ecosystem

The acquisition is a component of Coinbase’s overarching initiative to enhance onchain discovery and equip developers with the necessary resources to expand their audience.

Exchange of cryptocurrency In order to increase the visibility of initiatives constructed on its Ethereum layer-2 network, Base, Coinbase has acquired Spindl, a onchain advertising and infrastructure platform.

The acquisition is a component of Coinbase’s overarching initiative to enhance onchain discovery and equip developers with the necessary resources to expand their audience.

Coinbase announced the acquisition on January 31 and stated that Spindl is in the process of reconstructing the ad tech stack onchain to create a decentralized advertising solution that is intended to assist blockchain manufacturers in gaining traction.

He stated that Antonio García Martínez, the founder of Spindl, played a critical role in the development of Facebook’s original advertising platform, which facilitated the expansion of businesses and the acquisition of viral reach.

Currently, García Martínez is applying this expertise to the onchain world by utilizing smart contracts to develop an advertising protocol that enables developers to effectively promote their projects.

“They have constructed it from the ground up in smart contracts that are entirely onchain, and they are assisting builders in becoming ubiquitous,” Pollak stated, underscoring that Spindl will provide developers with the necessary resources to broaden their user base.

Shan Aggarwal, the director of business development at Coinbase, reiterated this vision, characterizing Spindl as the first comprehensive onchain advertising protocol that benefits both architects seeking users and users seeking compelling onchain experiences.

Eric Seufert, an early investor and partner at Heracles Capital, disclosed that he initially encountered García Martínez during a visit to Austin for an appearance on the Joe Rogan program.

Seufert invested in Spindl after hearing his vision for onchain attribution and measurement. He is now eager to observe the impact of the Coinbase partnership on the future of blockchain-based advertising.

The acquisition occurs as Coinbase continues to investigate tokenized assets on Base. Following its availability for international investors through real-world asset (RWA) platforms such as Backed, Pollak disclosed earlier this year that the company is contemplating the possibility of offering tokenized shares of Coinbase (COIN) stock to U.S. users.

Although the specifics are still uncertain, Coinbase’s most recent actions indicate its intention to broaden both decentralized advertising infrastructure and onchain finance in 2024.

Coinbase CEO Brian Armstrong stated earlier this week that the crypto agenda of U.S. President Donald Trump has become a central topic of discussion in the tech world, financial markets, and the crypto industry.

Armstrong, in his recent visit to the World Economic Forum (WEF) in Davos, disclosed that Trump’s proposals for digital assets were the primary topic of conversation with significant market leaders.

According to Armstrong, “The Trump administration’s intentions regarding cryptocurrency were the primary focus of every conversation I had with prominent market leaders.”

He further stated that Trump’s ambitious vision is compelling industry participants to make a significant effort to remain competitive in the swiftly changing landscape.

Trump committed to establishing the United States as the “world capital of artificial intelligence and crypto” during the WEF.

This dedication, which was one of his initial public statements following his inauguration on January 20, has established a transformative atmosphere within the industry.

Armstrong commended Trump’s approach, as well as the leadership of Argentina’s President Javier Milei and El Salvador’s President Nayib Bukele, for their embrace of free markets as generators of prosperity.

Although his most recent executive order suggests a more extensive vision, the establishment of a Strategic Bitcoin Reserve is one of Trump’s rumored objectives.

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