Coinbase Sparks $25M NFT Blitz to Resurrect Iconic Crypto Podcast

In an unexpected play blending blockchain and media, Coinbase has acquired and burned a $25 million non-fungible token (NFT) that triggers the revival of the once hugely popular crypto podcast UpOnly.

The move was confirmed by Coinbase CEO Brian Armstrong, who announced on X (formerly Twitter) that “the rumors are true” and that the NFT purchase obligates the podcast’s return for a new season.

Coinbase transferred $25 million in USDC directly to the digital wallet of Jordan Fish, also known as “Cobie,” the podcast’s host and crypto influencer.

UpOnly’s Triumphant Return Triggered by NFT Burn

UpOnly was a staple during the 2021 crypto bullish frenzy, known for its interviews with major crypto figures and insightful market commentary.

Sponsored initially by FTX before its collapse, the podcast ceased production in late 2022 shortly after FTX’s downfall.

Cobie had previously relinquished control over the show’s fate, locking its fate into the burnt NFT mechanic he created.

“The authority is now contained within this NFT I just minted,” Cobie wrote in May 2025. “Once the NFT is burned, the podcast will resume.”

The NFT’s resale price on OpenSea was modest, around 4.7 ETH (~$18,500), but Coinbase’s $25 million purchase was a massive premium, making the token the fifth most expensive NFT in crypto history.

Cobie humorously responded on X, highlighting the years since the show’s last episode: “I was in my 20s when it started, now I have grey hair. We will rename it Unc Only and I will spend $25m on cosmetic surgery.

See ya soon.” Coinbase replied, “Time to go live Unc,” underscoring the playful reopening of UpOnly.

A Memecoin Frenzy Accompanies the Revival

The announcement triggered extraordinary volatility in meme tokens inspired by the UpOnly brand.

On Coinbase's layer-2 network Base, the UPONLY memecoin surged nearly 7,900% before sharply correcting, while the COBIE token jumped roughly 5,800%. Simultaneously, a Solana-based UPONLY coin pumped about 250%.

Crypto investor “Rune” observed, “An UPONLY memecoin hit $50M in 2024 on Solana without UpOnlyTV relaunch.

Now that Coinbase spent $25M on reviving UpOnly, let’s push a Base memecoin to $500M.” This hype underlines how closely community sentiment and blockchain media remain intertwined.

This transaction marks a significant moment for the merging of blockchain utility and digital media.

Coinbase’s bold $25 million NFT purchase not only sets unprecedented valuations for digital assets linked to content ownership but also demonstrates how NFTs can dictate real-world media actions.

The UpOnly podcast’s comeback, now formalized on-chain, points to emerging trends where decentralized tokens are becoming instruments of power in creative and entertainment industries.