Coinbase buys and burns UpOnly NFT to revive UpOnlyTV

Coinbase has purchased and burned a nonfungible token tied to the defunct crypto podcast UpOnly for 25 million in USDC, and the exchange's chief executive confirmed the move on Tuesday, saying the show will return. Onchain records show the payment went to Jordan Fish, the crypto influencer known as Cobie, and the token's metadata says burning it compels the hosts to produce eight new episodes of UpOnlyTV, with a new season to begin within three months.

Brian Armstrong posted to the social platform X, writing in part, "The rumors are true, we bought the NFT. UpOnlyTV is coming back." Blockchain data and public posts indicate Coinbase then burned the token, a step that the NFT's listing specified would trigger the show's revival. The token's terms also state that the buyer receives no sponsorship, advertising, or editorial rights, and that the hosts may ignore or criticize the purchaser during the season.

UpOnly was a widely watched crypto interview program during the 2021 market boom. The show last posted an episode in December 2022, shortly after the collapse of FTX and amid the ensuing industry downturn. In May, when he minted the token, Cobie framed the NFT as a mechanism to...