Coinbase has bought the Up Only NFT from crypto investor Jordan Fish, better known to the crypto community as “Cobie,” for $25 million in USDC — part of a larger $375 million transaction that also includes the acquisition of Echo, Cobie’s community-based crypto fundraising platform.
The purchase sets the stage for a potential revival of the cult-favorite crypto talk show UpOnlyTV.
The Up Only NFT is not a typical collectible; it acts as a contractual mechanism requiring Cobie and his co-host Brian Krogsgard, or “Ledger Status,” to produce eight new episodes after the NFT is activated or “burned.”
“Just burnt the NFT. Your move,” said Coinbase CEO Brian Armstrong on X, sharing details of the transaction.
“It has been 3 years since Up Only ended. I was in my 20s when it started, now I have grey hair. We will rename it Unc Only and I will spend $25m on cosmetic surgery. See ya soon,” said Cobie.
Echo, founded by Cobie, has enabled over $200 million in funding across 300 projects and offers tools for both private and public token sales, including its self-hosted Sonar product.
Coinbase said the acquisition would help simplify fundraising for startups while expanding early access to deals for individual investors. Though it’s starting with token sales, the company hinted at future plans to support tokenized securities and real-world assets.
The move follows Coinbase’s recent purchase of Liquifi and continues a trend of building out infrastructure aimed at controlling more of the crypto project lifecycle.
Source: https://unchainedcrypto.com/
