Important points
- Coinbase purchased Cobie’s UpOnly NFT for $25 million in USDC, securing the rights to compel an eight-episode UpOnly TV season.
- According to the metadata, burning an NFT can start a new season within 3 months.
Coinbase purchased UpOnly NFTs from cryptocurrency influencer Cobie for $25 million in USDC, according to blockchain data.
The NFT will serve as a “ticket of admission” that allows owners to claim an eight-episode season of UpOnlyTV, the once-popular crypto talk show co-hosted by Cobie and Ledger Status.
The NFT’s on-chain description states that burning the NFT will start a new UpOnlyTV season within three months. It also states that the purchase does not come with sponsorship rights and allows the host to ignore or ridicule the purchaser during the course of the show.
Coinbase’s acquisition has sparked speculation across the crypto world that the exchange plans to revive or rebrand UpOnlyTV, but neither Coinbase nor Cobie have publicly commented on the move or the use of NFTs.
UpOnlyTV rose to prominence during the last bull market for its unscripted interviews with leading figures in cryptocurrency.