Coinbase is making a bold, headline-grabbing move in the crypto media space. The exchange spent $25 million to acquire and burn a non-fungible token (NFT) to restart the UpOnly podcast, the popular crypto show that captivated audiences during the 2021 bull market.
CEO Brian Armstrong confirmed the purchase Tuesday, saying the NFT acquisition would trigger a new season of the show.
According to Arkham Intelligence, Coinbase sent $25 million in USDC to a wallet controlled by podcast host Jordan Fish, better known as Cobie. UpOnly previously featured interviews with top crypto figures and was sponsored by FTX before its dramatic collapse. The show’s final episode aired on YouTube in December 2022, shortly after FTX went under.
The NFT Story Behind UpOnly
In May, Cobie revealed that he no longer controlled the podcast’s return. Instead, the power now resides in an NFT he had minted. The NFT, when burned, would automatically trigger the podcast’s revival. Interestingly, the token was listed on OpenSea with a highest bid of just 4.7 ETH (roughly $18,500), meaning Coinbase paid an astronomical premium for the rights.
This purchase now ranks as the fifth-most expensive NFT sale in crypto history.
Cobie took the news in stride on social media, joking about renaming the show “Unc Only” in light of aging, and quipping that he’d spend the $25 million on cosmetic surgery before returning to host.
Meme Coins Explode After Announcement
The revival of UpOnly sparked a meme coin frenzy across multiple chains.
- Base UPONLY token surged an astonishing 7,900% before retracing.
- COBIE token on Base jumped 5,800%.
- A Solana-based UPONLY token gained around 250%.
Crypto investor Rune even suggested that the Base meme coin could reach a $500 million market cap, fueled by Coinbase’s $25 million investment in bringing the podcast back.
The Bottom Line
Coinbase isn’t just buying an NFT, it’s reclaiming crypto culture and community attention. UpOnly was known for delivering entertainment before alpha—but now, with Coinbase’s massive backing, the podcast’s revival could spark media hype, meme mania, and cross-chain token activity.
Whether this investment pays off in audience growth, engagement, or meme coin adoption, one thing is clear: Coinbase is willing to spend big to shape the narrative in crypto culture.
