Brian Armstrong Invests $25 Million to Revive Cobie’s NFT and Up Only TV Podcast
In an exciting turn of events for the cryptocurrency community, Coinbase CEO Brian Armstrong has made a notable investment of $25 million to purchase and destroy a unique NFT, thereby bringing back the beloved Up Only TV podcast. This show, known for its engaging discussions on crypto, was hosted by Cobie and LedgerStatus, and its revival has sparked a wave of nostalgia among fans, particularly recalling the fervor of the 2021 bull market that the podcast significantly shaped.
Rebirth of a Crypto Icon
The narrative took a significant twist on May 7 when Cobie, whose real name is Jordan Fish, created an NFT that would ultimately dictate the future of Up Only. This digital token, labeled “ADMISSION: 1 SEASON OF UP ONLY TV,” granted its owner the authority to prompt Cobie and LedgerStatus to produce a total of eight episodes. Cobie humorously noted, “When the NFT is burned, the podcast will restart. Until then, please leave me alone.” In a recent revelation, Armstrong confirmed that his firm had acquired the NFT, stating, “The rumors are true, we bought the NFT. @UpOnlyTV is coming back.” While the exact transaction value was not publicly disclosed, analysts estimated it to be around 6,500 ETH, roughly equating to $25 million. Cobie, who had previously hesitated to bring back the show, embraced the moment with light-heartedness: “It has been 3 years since UpOnly ended. I was in my 20s when it started, now I have grey hair,” he quipped. “We will rename it Unc Only and I will spend $25m on cosmetic surgery.”
Community Reactions and Expectations
The crypto community on X responded enthusiastically to the news, with many recalling the memorable moments from the original Up Only episodes. Crypto researcher Aylo remarked, “UpOnly spawned some of the best and funniest crypto lore,” expressing confidence that many active users would tune in. However, some, like a user named Rhino, raised concerns about whether the new season could match the previous one, pointing out the lack of compelling personalities compared to the last market cycle. Cobie himself acknowledged the potential difficulty in securing notable guests, hinting at possible appearances from Arthur Hayes and experts in prediction markets, although no definitive lineup has been announced.
Nostalgia Amid Market Challenges
The revival of Up Only comes at a crucial moment, as the crypto sector is seeking a morale boost following a significant market downturn. Just recently, over $19 billion in leveraged positions were liquidated due to heightened tensions between the U.S. and China. Cobie took this opportunity to remind traders of the dangers of excessive leverage, emphasizing that “fighting that feeling and avoiding the wipeouts is worth it in the end.” Despite the excitement surrounding the show’s return, Cobie cautioned fans that it wouldn’t necessarily restore the “2021 vibes.” Nevertheless, many within the crypto community are finding a renewed sense of hope with even a brief reboot of Up Only after a lengthy period of market fatigue. As expressed by one fan during Cobie’s announcement, “One more UpOnly season for my children. One more UpOnly for Satoshi.”
Beyond the Podcast: A New Chapter for Coinbase and Cobie
Additionally, the relationship between Cobie and Coinbase extends beyond the revival of Up Only, as the exchange has disclosed its acquisition of Echo, a pioneering crypto investment platform launched by Cobie. This transaction, valued at approximately $375 million, consists of both cash and stock, and will undergo adjustments based on the purchase price.
