Spindl, Addressable, Slise, HypeLab: the web3-native ad stack compared (2026)

Search for web3 advertising and a handful of names surface together so often they blur into one category: Spindl, Addressable, Slise, and HypeLab. The blur is the problem. Treating them as interchangeable is the quickest way to buy the wrong tool, because one is an attribution platform, one is a targeting layer that sits on top of mainstream ad channels, one is a banner network, and one is a wallet-native ad network. They answer different questions, and a growth team that understands the difference can run several at once without overlap. This piece is the sorting exercise: which tool does which job, where they touch ad networks like Specify, and how a stack combines them.

Disclosure: this is Specify’s blog, and Specify is one of the products discussed below. We have kept every claim to what each company states on its own site or published materials, and we are explicit about where a competitor does something Specify does not. Note what that sourcing means: these are the platforms’ descriptions of themselves, which in this market rarely come with independent proof. Specify’s numbers are the ones on this page you can verify yourself, onchain.

Why they get lumped together

The “web3-native” label groups these tools by what they have in common: all of them read wallet or onchain data, and none of them are a general-purpose web2 ad platform. That is a real category boundary, and it is why they show up on the same shortlists. It is also where the usefulness of the label ends. Underneath it, the products operate at different layers of the stack. Grouping them by their shared input (wallet data) hides the fact that they produce completely different outputs (a measurement report, a targeted audience on X, a banner impression inside a dapp, a native ad unit inside a wallet). Buy on the label and you can easily end up with two tools that were never going to do the third thing you needed.

Spindl: attribution first, advertising second

Spindl, founded in 2022, describes itself as an onchain attribution and growth platform. Its core competence is measurement: connecting the wallets that took an onchain action back to the campaigns and referrers that reached them, which is the problem most crypto teams are quietly terrible at solving. Advertising features sit on top of that analytics core rather than the other way around. In January 2025 Coinbase acquired Spindl and folded it under Base. It has not been shut down or fully absorbed; per its own materials it still operates as a standalone-branded product serving customers outside Base, though the ecosystem gravity now points toward the Base network. Access is demo-gated, with no self-serve signup, and we will not guess at pricing it does not publish. If your first bottleneck is not knowing what your spend actually caused, Spindl is aimed squarely at that, and it is reasonable to run it alongside networks it does not compete with.

Addressable: wallet targeting on channels you already know

Addressable does something narrower and cleverer than it first appears. It matches onchain wallets to the identities behind mainstream social and ad accounts, so you can take a wallet-defined audience (holders of a token, users of a competing protocol) and target those same people on X, Reddit, and programmatic display. It is a wallet-targeting layer bolted onto web2 inventory, not a network of its own placements. Its headline metric is cost-per-wallet, CPW, which reframes social-ad spending around reaching real onchain identities instead of raw impressions. Two things follow. First, billing rides on top of the underlying ad networks’ costs; you are paying Addressable to point X’s or Reddit’s inventory at the right people, and those channels still charge their own rates underneath. Second, access is enterprise and demo-gated, so, as with Spindl, we quote no pricing. It has recently extended past acquisition into a retention and CRM-enrichment product, which fits the pattern of a company that owns an identity graph and keeps finding new uses for it.

Slise: banners inside the dapps themselves

Slise is the most straightforward of the three and the only one that is an ad network in the plain sense. It positions itself as “AdSense for web3”: an in-dapp banner network that places display units inside decentralized applications, with targeting based on onchain personas. Billing is CPM, and its launch-offer page states a $5,000 minimum. It is a smaller operation than the other two, and its site has visibly unfinished sections, which is worth knowing before a procurement call but says nothing about whether the placements perform. If what you want is contextual banner reach inside actual web3 products rather than on media sites, Slise is the tool on this list that sells exactly that.

HypeLab: the wallet-native ad network of the group

Of the four, HypeLab is the one that is an ad network in the same sense Specify is: it owns native placements inside wallets and dapps and sells them to advertisers. Per their published materials it operates at real scale, with more than a billion monthly ad requests across 200+ publishing partners, and its wallet-aware targeting puts it a clear level above the crypto display networks, whose banners on media sites know the page but not the wallet. Where it sits relative to the others here: its web3-nativeness lives in the placement and the audience, while billing stays conventional, CPM per their materials, with outcome metrics like cost per wallet reported on top. That makes it lighter-touch than Spindl on attribution depth and a different bet from Specify on billing, which we compared properly in HypeLab vs Specify. For a team assembling this stack, HypeLab competes for the same budget line as Specify and Slise, not the lines Spindl and Addressable occupy.

The comparison, in one table

Here is the same information side by side, with Specify added so the overlap is visible. Cells are kept short and hedged where the underlying facts are hedged.

Where Specify sits, and how a stack combines them

Specify is an ad network with its own inventory and outcome-based billing, which places it in a specific spot on this map. On placement type it overlaps HypeLab and Slise: all three put ads inside web3 products rather than on crypto media sites, though Specify bills per verified onchain conversion instead of per impression or click. It does not compete with Spindl, which is an attribution platform first; measurement is a feature of Specify, not its whole product. And it is a different thing from Addressable, which supplies targeting for channels it does not own, whereas Specify owns the placements it sells. Being precise about this matters more than winning the comparison, because the three tools were never really competing for the same budget line.

That is why a sophisticated growth stack tends to run several of them together. Attribution (Spindl or an equivalent) tells you what worked. Social targeting (Addressable, or buying the channels directly) extends a wallet audience onto mainstream inventory. Wallet-native networks (Specify, HypeLab) convert the users who are already inside web3 products. These are complements, not substitutes, and the mistake is assuming one of them replaces the others. For the full channel map, including KOLs, quests, and display, our guide to advertising a crypto project lays out where each fits, and our rundown of crypto ad networks compares the placement-and-billing side in more detail.

If your stack already has attribution and a social layer and the gap is the wallet-native placement slot, that is the piece Specify is built to fill, and the cheapest way to see whether it belongs in your mix is a $1,000 test campaign: a structured flight billed against verified conversions, with a report you keep whether or not you spend another dollar. It slots next to the tools above rather than replacing them.