Coinbase has made a headline-grabbing move, acquiring the rights to popular crypto media brand “Up Only” and its associated Echo IP from well-known crypto influencers Cobie and Ledger. The deal, valued at a staggering $375 million, marks one of the most significant investments in the crypto entertainment sector to date. This acquisition not only restores a cult-favorite show for the crypto community but also signals a growing convergence between blockchain-based media and traditional platform strategies.
What began as a tongue-in-cheek NFT listing with a $25 million price tag evolved into a full-fledged strategic acquisition. The NFT in question, “Up Only,” served as a redeemable token for eight episodes of the eponymous podcast hosted by Cobie and Ledger, two of the most recognized voices in the web3 space. Originally minted as a joke, the NFT quickly became a symbol of crypto-native media culture—irreverent, experimental, and deeply embedded in the ethos of decentralization.
Coinbase’s decision to spend $25 million on the NFT might have raised eyebrows initially, but this purchase was merely the opening act. The full $375 million deal encompasses not just the rights to the show, but also the broader Echo project—a yet-to-be-fully-realized platform aimed at reshaping how crypto-native content is developed, distributed, and monetized.
This acquisition aligns with Coinbase’s broader strategy to expand its ecosystem beyond trading and into culture, community, and content. By integrating Echo and Up Only into its platform, Coinbase is looking to create a hub for crypto-native creators and audiences, potentially transforming its role from a financial services provider into a web3 media powerhouse.
The return of Up Only is already generating excitement across Crypto Twitter, where the show has achieved near-mythical status for its no-holds-barred interviews, market commentary, and humor. Fans are eager to see if the original spirit of the show can survive under corporate ownership. Cobie and Ledger are expected to stay involved in some capacity, although their exact roles post-acquisition remain under wraps.
From a business standpoint, this move is also notable in its timing. As the NFT market shows signs of renewed interest and crypto prices gradually recover, Coinbase’s investment could be seen as a bullish signal for the broader ecosystem. It also suggests that the company is betting on the long-term value of crypto-native IP as a cultural asset—something that can drive engagement, retention, and even monetization in ways that trading platforms alone cannot.
Beyond media, the Echo platform is rumored to include tools for decentralized publishing, tokenized fan engagement, and creator royalties—all of which align with web3 ideals. If successful, Echo could become a cornerstone of the so-called “on-chain economy,” enabling direct relationships between creators and communities without intermediaries.
For content creators in the crypto space, this is potentially a game-changer. With Coinbase backing a platform dedicated to their growth and visibility, independent voices may find new avenues to grow their audiences and monetize their work. This could challenge existing content monopolies and create a more level playing field for emerging talent.
Institutional investors are also taking note. The move reinforces the idea that digital assets are more than just speculative instruments—they’re part of a growing digital culture that includes media, art, and identity. By investing in crypto-native culture, Coinbase is staking a claim in the broader evolution of the internet.
However, not all reactions have been positive. Some critics worry about the centralization of crypto media under major corporate entities, fearing that the raw, unfiltered nature of shows like Up Only could be diluted. There’s also caution around the sustainability of such high-priced acquisitions in a volatile market.
Still, the $375 million figure is hard to ignore. It represents a bold, almost cinematic move in an industry known for its rapid innovation and dramatic shifts. Whether it pays off in the long run remains to be seen—but for now, Coinbase has positioned itself at the heart of a new frontier in crypto culture.
Looking forward, one key question is how Echo will integrate with existing Coinbase products. Will there be tokenized access to content? Will creators be able to launch their own NFTs or tokens through the platform? How will data privacy and content ownership be managed on-chain? These unanswered questions hint at a deeper transformation underway, one that could redefine how content is consumed and monetized in the crypto era.
As the lines between finance, media, and technology continue to blur, Coinbase’s acquisition of Echo and Up Only may be remembered as a pivotal moment. It’s not just a media play—it’s a bet on the future of how communities form, how stories are told, and how value is created in the digital age.