What happened?
Coinbase CEO Brian Armstrong confirmed buying the UpOnly NFT from Cobie for $25 million in USDC. The purchase gives the holder the power to restart the podcast and forces an eight-episode run under the NFT’s terms. The surprise buy — apparently above the joking asking price — landed amid Coinbase tech troubles and quickly lit up the crypto community.
Who does this affect?
Coinbase and its users get a new content asset and a big PR moment that could be used for marketing or engagement. Cobie, Ledger, and potential guests are directly impacted because the NFT compels them to produce the show’s new season. The wider crypto, NFT, creator, and advertising ecosystems may feel the ripple effects if this sparks renewed interest or copycat buys.
Why does this matter?
It signals that blue-chip crypto firms are willing to spend big on NFTs and cultural IP, which could help legitimize NFTs as strategic assets rather than just collectibles. That could push up demand and prices in the NFT market and encourage more firms to buy media-related tokens, driving liquidity and speculative activity. Investors will be watching whether the content actually brings users or revenue to Coinbase, and the deal raises questions about corporate treasury use that could influence market sentiment.