In a surprising yet symbolic move, Coinbase has spent a massive $25 million in USDC to acquire a single NFT — one that carries the rights to revive the once-famous “UpOnly” crypto podcast. The transaction, which took place on the Ethereum blockchain, instantly drew attention across the industry.
The NFT wasn’t just a collectible image — it was a contractual token, granting its holder the power to restart the podcast. The show’s creator, Cobie (Jordan Fish), had minted the NFT earlier in the year, declaring that whenever it was burned, “UpOnly will be revived.” Coinbase’s acquisition, therefore, wasn’t just an art purchase — it was a statement that the exchange intends to bring back a cultural icon of the crypto bull run era.
Blockchain trackers confirmed that a Coinbase-linked wallet sent the full amount in stablecoins directly to Cobie’s address. The amount makes it one of the largest single NFT transactions ever tied to a media property.
The Strategic Meaning Behind the Move
Coinbase’s decision goes far beyond nostalgia. It represents the next phase of convergence between crypto infrastructure and culture. By purchasing a token that effectively revives a podcast, Coinbase is signaling its intent to shape the storytelling ecosystem of Web3 — not just the trading and custody side.
In traditional terms, this is equivalent to a financial exchange acquiring rights to a popular talk show. But in Web3, that right is coded in a token and executed through blockchain. It’s a new kind of media ownership model — transparent, transferable, and verifiable.
The move also reflects how NFTs are evolving beyond art and collectibles. This one functioned as a “smart contract of intent,” where ownership activates real-world production — in this case, eight new episodes of UpOnly.
Symbolism and Market Impact
The $25 million price tag places this among the most expensive single NFT deals ever made. It shows how intellectual property, audience reach, and brand value are now being priced in blockchain-native ways.
For the NFT market, which has been quiet in 2025 compared to its 2021 peak, this deal injects fresh energy. It demonstrates that large institutions still see cultural assets as valuable entry points into the crypto ecosystem. Even as speculative NFT trading slowed, meaningful purchases tied to rights, content, and influence are still emerging.
There’s also a ripple effect. Following the news, memecoins associated with the “UpOnly” and Cobie brand surged thousands of percent on decentralized exchanges — a typical reaction of short-term traders riding social momentum.
The Broader Context — What “UpOnly” Stands For
“UpOnly” wasn’t just another podcast. During the 2021 bull run, it was one of the most influential crypto shows, featuring leading figures — developers, investors, and traders — in candid conversations about markets, culture, and technology.
Its tone was part serious, part self-aware, often mixing humor with deep technical discussions. But after the collapse of FTX — which had been one of its sponsors — the show went silent. Its last episode appeared in late 2022, marking an end of an era for many early bull-market enthusiasts.
In mid-2025, Cobie minted a single NFT tied to the show’s revival, declaring that whoever owned and burned it could restart the podcast. The idea was both playful and profound — handing over creative control to the open market. By buying that NFT, Coinbase effectively pressed the “play” button.
Implications for the NFT and Creator Economy
This event may reshape how creators, brands, and corporations think about intellectual property tokenization.
- NFTs as Rights Contracts:
Instead of merely representing images, NFTs can encode business logic — ownership, production rights, licensing, or activation conditions. The UpOnly NFT represents this new class of utility-driven digital assets. - Institutional Entry into Culture:
Coinbase’s move blurs the line between platform and publisher. It shows that exchanges aren’t just financial intermediaries — they can be participants in storytelling, media, and brand identity within crypto culture. - Stablecoins as Capital Bridges:
The deal, executed entirely in USDC, underlines the growing use of stablecoins for high-value transactions. It demonstrates the reliability and liquidity of dollar-pegged digital assets in corporate-level operations. - Signal to the Market:
This acquisition may serve as a confidence marker for the NFT ecosystem. When a publicly listed company spends millions on an NFT, it sends a message that blockchain-based ownership still holds strategic value beyond speculation.
The Risks and Uncertainties
Despite the enthusiasm, the move isn’t without risks.
- Execution Risk:
The purchase obligates Coinbase to deliver something meaningful — likely a high-production relaunch of the podcast. Whether it captures public attention again remains uncertain. - Valuation Questions:
The NFT was once listed for under $20,000 worth of ETH earlier this year. Paying $25 million represents a massive premium, raising questions about how such cultural assets are priced. - Market Volatility:
Memecoin and NFT reactions show how quickly sentiment can swing. A cultural announcement can cause extreme speculative surges — but those rarely sustain value. - Regulatory Curiosity:
With stablecoins and NFTs involved in high-profile deals, regulators may take a closer look at how such transactions are classified — as investments, IP acquisitions, or promotional expenses.
A Shift in Crypto Storytelling
At its heart, this story is about ownership of narrative. Coinbase isn’t buying an audio show — it’s buying influence, engagement, and cultural memory.
The UpOnly revival ties directly into the emotional pulse of crypto audiences who lived through the wild cycles of 2021 and 2022. By aligning with that nostalgia, Coinbase can reconnect with users on a more human level — something exchanges often struggle to achieve through technical marketing.
If the new episodes live up to expectations, the podcast could become a flagship cultural property under Coinbase’s umbrella, blending education, entertainment, and community building.
Key Highlights
- Amount Spent: $25 million in USDC
- Asset Type: NFT granting revival rights to the UpOnly podcast
- Original Creator: Jordan Fish (Cobie)
- Utility: Burning the NFT triggers eight new episodes
- Market Reaction: Memecoins linked to the podcast and creator spiked several thousand percent in value
- Context: The show was inactive since 2022 and returns under Coinbase’s ownership
What It Means for the Future
This transaction will likely be remembered as a turning point where Web3 ownership models met mainstream corporate strategy.
For creators, it’s proof that tokenized media rights can command real value. For institutions, it demonstrates how cultural participation can extend brand influence. And for the market, it’s a reminder that crypto storytelling isn’t dead — it’s just evolving.
In the years to come, we may see more such examples: music albums, shows, or film franchises encoded as NFTs with activation clauses, sold to entities that can finance and distribute them.
Coinbase’s $25 million purchase is both a business decision and a cultural experiment — one that will test whether digital ownership can truly drive the next wave of creator-economy innovation.
