In a move that has stunned both the crypto and entertainment worlds, Coinbase has spent $25 million to acquire the UpOnly NFT, a digital token tied to one of crypto’s most beloved podcasts. The purchase marks an ambitious experiment at the intersection of blockchain ownership and media production — and signals the unexpected return of Jordan “Cobie” Fish and Brian “Ledger” Krogsgard to the microphone.
A $25 Million Bet on Crypto Nostalgia
The acquisition was confirmed by Coinbase CEO Brian Armstrong, who posted a short but viral announcement on X:
“The rumors are true; we bought the NFT. @UpOnlyTV is coming back.”
According to on-chain data, Coinbase transferred $25 million in USDC directly to Cobie’s wallet, immediately setting off a frenzy across the crypto community. The transaction wasn’t just symbolic — it also triggered an automatic smart contract clause that compels Cobie and Ledger to produce eight new podcast episodes.
In true crypto fashion, the NFT contract even includes a humorous condition allowing the hosts to “ignore or insult” the NFT holder as part of the show’s running gag — a playful nod to the irreverent culture that first made UpOnly famous.
Cobie, known for his self-deprecating wit, reacted on X with classic disbelief:
“Ah man wtf.”
“I’m too old to have a crypto podcast, imma be out here looking like Gary V.”
The Rise, Fall, and Resurrection of UpOnly
Launched during the euphoric highs of the 2021 bull market, UpOnly quickly became a defining voice in crypto culture. Its candid interviews with prominent traders, developers, and meme creators captured the chaotic energy of the time — making it a must-listen for insiders and enthusiasts alike.
The podcast’s run came to an abrupt end in late 2022, following the collapse of FTX, which had served as its primary sponsor. When the exchange imploded, the show disappeared just as suddenly, marking what many fans saw as the end of an era.
For years, Cobie joked that the show was beyond revival. In May 2025, he minted the UpOnly NFT as a tongue-in-cheek statement on creative ownership, tweeting:
“The power is now stored within this NFT. When it’s burned, the podcast will restart. Until then, please leave me alone.”
The NFT, originally listed with an absurdly high price, was thought to be little more than an inside joke. But Coinbase’s multimillion-dollar purchase has transformed that joke into one of the most talked-about marketing plays in crypto history.
NFTs as Smart Contracts for Media Rights
Beyond the spectacle, Coinbase’s move highlights a groundbreaking concept: NFTs as programmable contracts for digital media.
Unlike traditional entertainment deals that require lawyers and lengthy negotiations, the UpOnly NFT embeds creative obligations directly into its code. When the token changed hands, the smart contract automatically activated — compelling the creators to return to production.
“This is a glimpse of what media ownership could look like in a decentralized world,” said Tom Dunleavy, a crypto industry analyst. “Coinbase isn’t just reviving a podcast — it’s demonstrating how blockchain can manage creative rights, royalties, and obligations without middlemen.”
The approach could redefine how shows, music, and games are produced in the digital age. It positions NFTs not merely as collectibles but as functional assets that govern real-world creative output.
Crypto Culture, Revived and Reinvented
For Coinbase, the move is more than nostalgia. It’s a calculated experiment in blockchain-powered media innovation — and a way to reconnect with crypto’s cultural roots during a time of renewed optimism in digital markets.
The timing is notable: after a harsh 2023–2024 downturn, NFT markets are showing signs of revival, with corporate players exploring new use cases beyond digital art speculation. Coinbase’s acquisition sends a signal that NFTs can serve as both investment vehicles and operational tools for creative ventures.
The market’s reaction was swift. Within hours of the announcement, a memecoin named UPONLY surged more than 7,800%, reflecting traders’ enthusiasm and the cultural weight the brand still carries.
A New Chapter for Blockchain Entertainment
What began as a viral joke has evolved into a bold test case for decentralized media. If successful, Coinbase’s experiment could inspire similar NFT-based models for podcasts, music, and digital shows — where ownership, participation, and accountability are all handled on-chain.
By buying the UpOnly NFT, Coinbase isn’t just reviving a podcast; it’s exploring how blockchain technology can underpin the next generation of entertainment.
As Cobie and Ledger prepare to return to the studio under the most unconventional “contract” in podcast history, one thing is clear: in crypto, nothing ever truly dies — it just gets minted again.
