The recent acquisition of the “UpOnly” NFT by Coinbase for a staggering $25 million in USDC marks a defining moment in the crypto and digital media landscape. This purchase, confirmed publicly by Coinbase’s CEO Brian Armstrong, sets the stage for the revival of the once-popular crypto podcast “UpOnly,” which originally captivated audiences during the 2021 bull run. The transaction not only signals Coinbase’s deepening involvement in original crypto-content production but also highlights the growing institutional acceptance and strategic utility of NFTs beyond mere collectibles.
The UpOnly NFT: A Unique Bridge Between Content and Blockchain
Created by Jordan Fish, better known in crypto circles as Cobie, the UpOnly NFT is far from a typical digital collectible. Minted with an embedded programmable contract, it gives its holder the extraordinary right to compel Cobie and his co-host Ledger Status to produce a new eight-episode season of UpOnlyTV. According to the NFT’s on-chain metadata, burning the token activates this clause, initiating the podcast’s revival within three months. Yet, intriguingly, the purchase does not grant Coinbase any advertising or creative control over content, nor does it allow sponsorship rights, preserving the hosts’ editorial freedom.
This model exemplifies how NFTs are evolving from mere speculative assets into functional contracts capable of governing real-world creative projects. The UpOnly NFT encodes tangible rights and obligations, offering a fresh use case for decentralized media ownership and content governance in the Web3 era.
Coinbase’s Strategic Move and Industry Implications
By splashing $25 million on this NFT—far exceeding the highest prior market offer of approximately $18,500—Coinbase demonstrates a bold strategic vision. Beyond rejuvenating a beloved brand, the exchange is positioning itself as a bridge linking mainstream finance with blockchain-native culture and innovation. CEO Brian Armstrong has framed this move as part of a broader effort to “anchor NFTs in utility and institutional trust,” underscoring the company’s commitment to exploring NFTs as tools for community engagement and value creation rather than speculative tokens.
This landmark purchase also signals a shift in institutional attitudes. In 2025, regulatory clarity and technological advances have propelled greater adoption of digital assets by institutional investors, many of whom now view NFTs as viable parts of their portfolios. With 57% of institutional investors expressing interest in tokenized assets including NFTs, Coinbase’s deal serves as a powerful validation, encouraging more institutions to embrace NFTs with programmable utility and real-world connectivity.
The Legacy and Revival of UpOnly
UpOnly originally earned its reputation as a must-watch crypto podcast, known for candid, unscripted interviews with industry heavyweights such as Ethereum founder Vitalik Buterin, FTX founder Sam Bankman-Fried, and Terra founder Do Kwon. Its unique format and insider insights made the show synonymous with the 2021-2022 bull market period.
However, the podcast went quiet following the collapse of FTX in late 2022, a critical event that shook the crypto landscape and led to an era of skepticism and consolidation. The UpOnly NFT, issued by Cobie during that turbulent period, was a playful yet forward-thinking attempt to hand control over to the marketplace—allowing a buyer to reignite the show at will.
Cobie, known for his sharp wit and candid commentary on crypto culture, reacted with characteristic humor after Coinbase’s purchase, joking about using part of the $25 million for plastic surgery and jokingly renaming the show “UncOnly.” Yet his amusement belies the serious cultural significance of the transaction—what was once a renegade, critically minded podcast is now being brought back under the auspices of one of crypto’s largest and most established players.
Community and Market Reactions
The crypto community responded with a mixture of excitement, curiosity, and skepticism. Some hailed the deal as a bullish signal, heralding the dawn of a new bull market and a renewed focus on crypto media. Others expressed caution, questioning the valuation of an NFT linked to a podcast and expressing concerns about potential narrative control by a major centralized exchange like Coinbase.
Coinbase’s entry into crypto media via NFT acquisition also sparked creative activity in related ecosystem layers. For instance, meme coins inspired by UpOnly emerged on Coinbase’s Base Layer 2 network, experiencing significant price surges within short periods. This underscores how media-driven NFTs can catalyze ecosystem dynamics and community participation.
Why This Matters for the Future of NFTs and Crypto Media
This transaction encapsulates several pivotal trends shaping crypto in 2025:
- Institutional Adoption of NFTs with Utility: NFTs are increasingly recognized as programmable assets encoding rights or functions, moving beyond art and collectibles towards governance and contractual functionality.
- Bridging Traditional and Decentralized Media: Major centralized crypto platforms like Coinbase are incorporating blockchain-based media properties, subtly shifting the balance between decentralized content creation and institutional involvement.
- Evolution of Crypto Content: Iconic formats like UpOnly can serve as cultural touchstones leveraged via NFT ownership to revive, rebrand, and monetize original content in innovative ways.
- Market and Community Dynamics: Large NFT purchases create ripple effects in the broader ecosystem, stimulating new projects, fan-driven tokens, and heightened engagement.
As the digital landscape continues to evolve, the integration of NFTs with native media properties could become a blueprint for how blockchain technologies foster creative autonomy while attracting institutional resources and legitimacy.
Final Takeaway
The $25 million acquisition of the UpOnly NFT by Coinbase is more than just a headline-grabbing deal—it is a landmark turning point for crypto media, NFTs, and institutional involvement in digital culture. By purchasing an asset that encodes not just ownership but creative obligation, Coinbase is pioneering a new paradigm of content revival and community engagement through blockchain technology. As UpOnly prepares for its long-awaited return under this handshake between a pioneering crypto influencer and a leading crypto exchange, the transaction highlights the expanding utility of NFTs as enablers of original digital experience, bridging past cultural moments with future innovation.
