Important points:
- Coinbase has confirmed that $25 million purchase of Up only Famous trader NFT, cobyone of crypto’s most-watched podcasts, is making a comeback.
- Detailed requirements for NFTs include: coby and leisure produce 8 new episodesThis marks the return of the program for the first time in almost three years.
- This agreement emphasizes that: A bold fusion of NFT and mediaplacing Coinbase at the center of the next wave of crypto-driven entertainment.
Coinbase made one of the most unexpected and high-profile moves of 2025, spending an incredible amount of money $25 million get UpOnly NFTa digital token associated with a dormant but legendary crypto podcast hosted by Jordan “Coby” Fish and Brian “Ledger” Krogsgard.
The acquisition is not just a publicity stunt, but a calculated push to fuse blockchain ownership with the resurgence of digital media and breathe life into a show that once defined the cultural moment of the 2021 bull market.
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$25 million bet on crypto nostalgia
Coinbase CEO brian armstrong confirmed the acquisition In a short but viral post about X:
“The rumors are true. We bought an NFT. @UpOnlyTV is coming back.”
According to on-chain data, Coinbase paid $25 million in USDC Sent directly to Coby’s wallet. The deal instantly became a hot topic across the crypto community, and not just because of the price. Force Coby and Ledger back into production.
The NFT contract explicitly requires the duo to produce eight new podcast episodes, while also giving them permission to “ignore or insult” NFT owners as a funny little aside. It’s the perfect combination of crypto humor, contractual irony, and blockchain enforcement, a signature play that only this industry could come up with.
Coby himself seemed both amused and wary. Shortly after the trade, he posted on X:
“Oh my god.”
“I’m too old to do a cryptocurrency podcast. I can’t show up here looking like Gary V.”
The rise, decline, and rebirth of Up only
From bull market sensation to post-FTX silence
Introduced during the dizzying heights of the 2021 bull market, UpOnly has become something of a cultural touchstone for crypto insiders, lauded for its candid interviews with top traders, builders, and meme legends. The show was previously underwritten by FTX until the exchange went bankrupt in late 2022 and the podcast was suspended indefinitely.
Its final episode aired shortly after the collapse of FTX, during what many considered the “golden age” of crypto content. And from that moment on, Covey told people over and over again that the show was no longer a takeaway, and how the decision was locked into NFTs.
In May 2025, Coby Up only NFTs are a cynical experiment, tweeting:
“The power is currently stored within this NFT. When it burns, the podcast will resume. Until then, leave it alone.”
No one expected this token, which was initially listed with an absurd string of zeros, to actually go on sale. But Coinbase just turned that joke into a $25 million marketing statement.
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NFT as a smart contract for media ownership
The Coinbase acquisition reveals a deeper, more strategic strategy. NFTs as programmable media rights.
Unlike traditional contracts, Up only NFT Automatically enforce creative obligations Through ownership, meaning the buyer doesn’t need a lawyer to start production, it’s written into code.
This model has the potential to redefine how: Content rights, royalties, and collaboration with creators Ready for the digital age. Analysts say Coinbase’s move is Entertainment using NFTsprograms, music, and games can be tied directly to on-chain conditions.
“This is not just a matter of nostalgia,” says a cryptocurrency analyst tom dunleavy. “Coinbase is experimenting with new forms of decentralized media where blockchain becomes a business model, not just a topic.”
The timing couldn’t have been better. As the NFT market begins to recover from the severe downturn of 2023-2024, companies like Coinbase are finding new ways to leverage digital collectibles outside of art speculation.
This acquisition not only breathed new life into UpOnly, but also sparked a reaction in the market. One meme coin, UPONLY, soared more than 7,800% in one day after the announcement, highlighting traders’ obsession with the trade.
