Coinbase Restarts UpOnly Podcast with $25 Million NFT Purchase
Coinbase simply took up a well-known joke provide, buying one other season of the UpOnly podcast for $25 million. The hosts promised to launch eight extra episodes if a benefactor bought a novel NFT.
Bizarrely, the trade really overpaid UpOnly’s asking value by $5 million. Although it received’t acquire any promoting privileges or inventive management over this system, Coinbase has distracted the group from its ongoing technical difficulties.
Coinbase Renews UpOnly Podcast
UpOnly, a well-liked crypto podcast, ended a number of months in the past, however one in all its co-hosts created a weird challenge: if anybody bought a $20 million NFT, this system would return for an additional season.
The provide contained stipulations akin to a scarcity of sponsorship rights, editorial management, and so on for this system, however it might resurrect the podcast.
In an unbelievable growth, an unlikely purchaser really took the hosts up on this joke provide. Not solely did Coinbase buy UpOnly’s NFT, however the popular exchange really overpaid the asking value by $5 million.
Since this happened, the crypto group has been in an absolute uproar. Jordan Fish, the UpOnly co-host who first minted the NFT, conveyed his disbelief at Coinbase’s buy fairly succinctly.
Quite frankly, nobody anticipated this to truly occur. We aren’t certain why Coinbase determined to spend $25 million on eight new episodes of UpOnly, but it surely looks as if a PR stunt.
The podcast stipulated that it retains full freedom to disregard Coinbase’s generosity, and even make enjoyable of the corporate throughout its airtime. Nonetheless, the brand new season will launch.
One Big Publicity Stunt?
Still, so far as PR stunts go, it is a fairly ingenious one. Plus, somewhat exterior context would possibly assist clarify why Coinbase picked as we speak to resume UpOnly.
The trade has suffered intense technical difficulties as we speak because the AWS outage took down its premium trading platform and different providers.
After a number of hours of engaged on it, points nonetheless persist. The agency even warned that some Base customers might even see their account balances as 0 for some tokens, so there are severe bugs remaining unfixed.
Now, nonetheless, Coinbase has bought the crypto group to speak about UpOnly as a substitute of its severe infrastructure points. Considering that the trade has billions in annual revenue, $25 million looks as if a small value to vary the narrative.
Plus, it could even get to have an organization consultant as a visitor on the brand new podcast.
Whatever Coinbase’s motivation could also be, this UpOnly NFT is a very comical incident. Hopefully, its hosts received’t begrudge their new benefactor for making them resurrect the cancelled program.
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