Coinbase Invests $25 Million in Reviving the UpOnly Podcast and Acquires NFT to Kickstart the New Season Translation: Coinbase Invests $25 Million in Reviving the UpOnly Podcast and Acquires NFT to Kickstart the New Season

Coinbase, a cryptocurrency exchange, has acquired an NFT valued at $25 million, designed to launch a new season of the UpOnly podcast. The deal was confirmed by the platform’s founder, Brian Armstrong.

According to Arkham Intelligence, Coinbase transferred 25 million USDC to the wallet of UpOnly host Jordan Fish, known by the pseudonym Cobie. He was the creator of the NFT, which stipulated that burning the token would automatically restart the show.

On October 21, Coinbase also announced the acquisition of the private investment platform Echo for $375 million. Its creator, Jordan Fish, confirmed the completion of the transaction.

«I definitely didn’t expect Echo to be sold to Coinbase, but here we are: Coinbase purchased Echo for roughly $375 million today,» he stated.

Fish clarified that the project will continue under its current name, but the product for public token sales, Sonar, will be integrated into the American exchange’s ecosystem.

«Over the years, I’ve spoken with Brian several times, mostly to voice my concerns. I’ve always respected how he could seriously listen to criticism from an outsider over the phone. Now, I will have the opportunity not to complain, but to work on improving the system,» added the UpOnly host.

Prior to the deal, the highest offer on the OpenSea marketplace was 4.7 ETH (approximately $18,500 at current rates). The Coinbase purchase became one of the most expensive NFT transactions in history.

The peak popularity of UpOnly occurred in 2021, supported by FTX. The last episode was released in December 2022 following the exchange’s collapse.

Some users drew historical parallels, declaring the onset of a bear market.

Fish reacted to the news with a skull emoji. He then remarked that he is «too old for a cryptocurrency podcast.»

«Three years have passed since UpOnly ended. When we started, I was just over twenty, and now I have gray hair. We will rename the show UncOnly, and I will spend that $25 million on plastic surgery. See you soon,» the host noted.

In response to the news, community members launched several meme coins on the Layer 2 network Base from Coinbase. Named after the podcast, UPONLY surged more than 7000% in just one day, reaching a market capitalization of $3.5 million.

The coin trading under the ticker COBIE soared by 8765%. Its market value rose to $361,000.

As a reminder, in June, Coinbase faced criticism for sponsoring a military parade by the U.S. Army.