Blockchain Codifies Media Rights: Coinbase Pays $25M for NFT-Driven Podcast Obligations

Coinbase has acquired a non-fungible token (NFT) from crypto personality Cobie for $25 million in USDC, triggering the return of the once-popular crypto podcast UpOnlyTV after a three-year hiatus. The transaction, confirmed by Coinbase CEO Brian Armstrong on X, underscores a growing trend of leveraging blockchain technology to revive digital media and enforce creative obligations through smart contracts[1]. The NFT, which Cobie described as a "joke" when minted in May 2025, stipulates that its holder can compel him and co-host Ledger to produce eight new episodes of the podcast[2].

The NFT's terms, encoded in a smart contract, include a humorous clause allowing the hosts to "call the buyer idiots" or ignore them entirely during production[3]. Despite these playful conditions, the $25 million price tag-far exceeding the initial OpenSea bid of 4.7 ETH ($18,500)-has sparked speculation about Coinbase's strategic intent. Armstrong confirmed the purchase, stating, "The rumors are true, we bought the NFT. UpOnlyTV is coming back."[4] The move aligns with Coinbase's broader efforts to expand its presence in crypto media, blending entertainment with blockchain innovation.

Cobie, whose real name is Jordan Fish, responded to the acquisition with characteristic irreverence, joking about aging and potential cosmetic surgery with the NFT proceeds. "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," he quipped[5]. The transaction also reignited interest in the crypto community, with memecoins like UPONLY and COBIE surging by thousands of percent on Coinbase's Base network[6].

The revival of UpOnlyTV highlights the evolving role of NFTs beyond digital art, demonstrating their potential as tools for content creation and contractual obligations. The podcast, which gained traction during the 2021 bull market, previously featured high-profile guests like Ethereum co-founder Vitalik Buterin and FTX's Sam Bankman-Fried before the latter's collapse in 2022[7]. Its return, now tied to blockchain ownership, reflects a new era where media rights and creative control are codified on-chain.

Coinbase's purchase has also drawn attention to the intersection of NFTs and media monetization. By paying a premium for the NFT, the exchange has effectively activated a public agreement that could influence future content production models. Analysts note that the transaction could inspire creators to experiment with blockchain-based contracts, offering new revenue streams while maintaining editorial independence[8].

As UpOnlyTV prepares for its comeback, the episode will likely serve as a case study in how crypto companies are redefining media engagement. With no sponsorship rights tied to the NFT, the hosts retain full creative control-a dynamic that could reshape traditional media economics in decentralized ecosystems[9].