Twenty-five million dollars. That’s what Coinbase just dropped on an NFT that basically amounts to podcast rights. Not exactly your average corporate expense. The crypto exchange giant, led by CEO Brian Armstrong, purchased Cobie‘s UpOnly NFT using USDC stablecoin in a transaction that’s now cemented as one of the five most expensive NFT sales in history.
The deal wasn’t just about bragging rights. The NFT purchase effectively resurrects the once-popular crypto podcast that went silent after FTX’s spectacular implosion in late 2022. Cobie (real name Jordan Fish) and co-host Brian Krogsgard (Ledger) are now contractually obligated to produce eight new episodes. They’re back in business, baby.
But here’s the kicker – the fine print is hilarious. The creators can literally mock Coinbase during episodes. They can ignore them. The $25M price tag was partly symbolic, as Cobie had set the initial price astronomically high to prevent random buyers. The NFT’s smart contract clauses explicitly allow creators to make no mention of the buyer during shows. Guess Coinbase didn’t get the memo.
The creators can roast Coinbase on air, no strings attached. Talk about buying the right to be trolled.
The transaction sent ripples through the market. Related meme coins like UPONLY and COBIE jumped in value. Crypto Twitter exploded. News outlets scrambled to cover it. All while NFT skeptics watched their “JPEGs are worthless” narrative take another hit.
For Coinbase, this isn’t just about owning a fancy digital token. It’s strategic. They’ve aligned themselves with influential crypto voices and positioned themselves at the center of crypto media. The move showcases practical NFT utility beyond pixelated art – this one controls actual content creation. This transaction was conducted using blockchain technology, which provides the decentralized networks that power all cryptocurrency operations.
The transaction was fully transparent on-chain, with Armstrong publicly confirming the purchase. The community’s reaction ranged from shocked to amused to impressed. Cobie himself responded with a simple “Ah man wtf” message expressing his genuine surprise. Not every day you see a publicly traded company drop eight figures on a podcast NFT.
In one bold move, Coinbase has revived a beloved crypto show, flexed their financial muscles, and thumbed their nose at the entire “crypto winter” narrative. Not bad for $25 million.
