TechFlow news, September 10 — According to Coindesk, Coinbase's Ethereum Layer-2 network Base has recently achieved significant results, highlighting the crucial role of marketing strategies in blockchain project development. Data from a blog post published by Coinbase shows that its "Onchain Summer" campaign attracted over 2 million unique wallets and generated more than $5 million in minting revenue for creators.
Although Base is not at the forefront of technological innovation, it has leveraged Coinbase's marketing resources and user base to become the second-largest Layer-2 network with an 18% market share, trailing only Arbitrum One. Base's success can be primarily attributed to three factors: Coinbase's substantial marketing budget, simplified onboarding processes, and support for meme coin trading.
However, industry experts point out that Base's long-term sustainability remains uncertain, particularly regarding user retention after promotional campaigns end. Notably, Coinbase’s Q1 2024 earnings report revealed $52.5 million in “other” transaction revenues, including fees from the Base sequencer, reflecting the project’s commercial potential.
