- Featuring interviews with notable crypto players, the first podcast gained popularity during the 2021 bull market, before the FTX exchange went down, who was a prominent sponsor.
- Coinbase CEO said the “rumors are true” and went on to say that the company has purchased the NFT in order to revive the UpOnly podcast for a fresh season.
In an effort to bring back the once-popular crypto podcast UpOnly, prominent crypto exchange Coinbase has spent $25 million to buy and burn a non-fungible token (NFT).
On Tuesday, Coinbase CEO Brian Armstrong said the “rumors are true” and went on to say that the company has purchased the NFT in order to revive the UpOnly podcast for a fresh season. Coinbase sent $25 million USDC to a wallet owned by crypto celebrity and podcast host Jordan Fish, alias “Cobie,” according to onchain data from Arkham Intelligence.
Expensive Revival
Featuring interviews with notable crypto players, the first podcast gained popularity during the 2021 bull market, before the FTX exchange went down, who was a prominent sponsor. Just after the FTX collapse in December 2022, UpOnly’s last episode was released on YouTube. “I am no longer the decision maker on if Up Only returns,” Cobie said in May.
Coinbase seems to have spent much too much for the NFT, because it was posted on OpenSea with a maximum bid of just 4.7 ETH, or around $18,500.
As of right now, the NFT is the fifth most costly NFT ever sold in the history of cryptocurrency. In the wake of the revelation, two memecoins listed on the Coinbase layer-2 network—UPONLY on Base and COBIE on Base—saw explosive price increases of 7,900% and 5,800%, respectively, according to DEX Screener. Concurrently, a memecoin based on Solana that uses the same UPONLY ticker saw a spike in value by almost 250%.
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