Marketing Stunt? Coinbase Burns $25M in NFT to Resume Cobie’s Uponly Podcast

Crypto exchange Coinbase, through its CEO, Brian Armstrong, made a significant announcement when it decided to burn a highly valuable NFT worth $25 million—the gesture aimed to revive the UpOnly podcast, which is hosted by the well-known crypto influencer Cobie. 

The disclosure came as a surprise to many users who took to their various social media handles to express themselves. While some supported the move, others frowned at it.

$25M NFT Burn Sparks Debate

The decision came after a lighthearted discussion on social media, during which Cobie suggested that burning his minted NFT would serve as a catalyst for restarting the UpOnly podcast that many fans had been eagerly expecting. The burn was executed by coinbase.eth, Coinbase’s official wallet, with Armstrong’s involvement in taking the token out of circulation forever. 

The action surprised the crypto community, sparking discussions and debates. While some users reacted with memes and amusement, others criticized the billionaire’s reckless display of wealth. Many questioned why he would destroy such a valuable asset, leading to differing public opinions.

One user particularly commented on a perceived good the burned $25 million NFT would have done had it been channelled otherwise.

“Just put like 5m into each sector on Base instead, make people wealthy (as you were happy to burn the money anyway), that would have injected base with liquidity and got the ecosystem popping. Imagine wasting 25M on doing this, it’s crazy and how would it be justified,” the user stated.

The Burn—A Strategic Move?

Responding to the NFT burn move, Cobie remarked, “ok burned the $25m. thanks for playing.” His response has left fans and followers uncertain about the podcast’s future. The NFT, minted by Cobie in May 2025, had a built-in “burn clause”: Burning it would obligate Cobie and co-host Ledger to produce eight new episodes of the UpOnly podcast.

Meanwhile, industry experts are wondering if the company planned the move as a smart marketing strategy to boost its visibility in a very competitive crypto market. They noted that with the company seeing strong revenue growth in 2024, following some notable strides, it can handle the financial losses from its choice to “burn” the non-fungible token.

The development highlights how unpredictable the crypto space, NFTs, and influencer culture can be today. There have been no official announcements as of the time of writing about plans for a revival, which keeps users curious.

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