“Web attribution” stands as a pillar of Web 2.0 giants like Facebook and Google, offering advertisers clarity on their traffic origins. Yet, this attribution often morphs into a contentious narrative, with dominant platforms serving as the ultimate arbiters, despite evident conflicts of interest.

In stark contrast, Web3’s attribution landscape is akin to the untamed frontier. Tracing the origins of an NFT acquisition back to a Discord post is an elusive endeavor.

Read more: https://blockchainmagazine.com/spindl-unveils-revolutionary-on-chain-ad-network-for-web3

Miami-based Spindl has garnered $7 million to tackle this conundrum. Founded by Miami native and Silicon Valley stalwart Antonio García Martínez, Spindl aspires to forge this vital backend infrastructure for Web3 e-commerce.

“At the crux of the matter, consensus must be reached that x precipitated y,” García Martínez conveyed to CoinDesk.

“Proper attribution in Web3 isn’t a grotesque imposition of archaic Web 2 mechanisms; it’s a means to accurately attribute a digital asset—and by extension, its proprietor—with the revenue generated, irrespective of its downstream form,” he elucidated in a blog post. “Absent this, the NFT marketplace risks remaining a speculative art realm, emulating its real-world counterpart.”

The funding round was spearheaded by crypto venture capitalists Ani Pai of Dragonfly and Jeff Morris Jr. of Chapter One. The investment roster also includes prominent crypto figures such as Polygon Ventures, Solana Ventures, Balaji Srinivasan, and Anthony ‘Pomp’ Pompliano. These funds are earmarked for team expansion.

Spindl’s modus operandi involves scrutinizing click-through links from platforms like Discord, Reddit, and ad impressions, juxtaposing this data with purchasing behaviors, including buying, selling, and trading activities.

Although tracking purchasing behaviors isn’t novel within the crypto domain—entities like Chainalysis have thrived on on-chain forensic accounting—Spindl addresses the necessity for Web 2.0-style attribution analysis.

García Martínez disclosed that the startup’s nomenclature is inspired by Greek mythology, where the three Fates spun the thread of human existence, ultimately severing it to mark each individual’s allotted time on Earth.

Spindl mirrors this process, albeit with a less somber connotation. “Similar to the Fates, an attribution system weaves the chaos of Internet data into a coherent thread, subsequently apportioning the precise reward to the rightful owner of that segment of yarn.”

Since Mayor Suarez’s pivotal “How can I help” moment, García Martínez has championed the Miami tech movement. Last week, he took to the stage to laud the merits of building in the Magic City, seizing the opportunity for a public discourse with investor David Sacks.