Top US-based crypto exchange Coinbase is purchasing on-chain advertisement platform Spindl in line with its mission to onboard one billion users.
According to a new blog post, Coinbase says it has acquired Spindl to blow up the popularity of crypto developers.
“As we talk with builders every day, a consistent theme 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.”
Coinbase says that Spindl – which was founded three years ago by an ex-Facebook advertising employee – will help improve the problem of on-chain discovery for builders and will operate directly on Base, the firm’s proprietary blockchain.
According to Coinbase, builders currently have issues finding quality users and distribution, a problem that can be solved by going viral via 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.”
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