
Luke Martin|Oct 21, 2025 03:55
Coinbase buying @UpOnlyTV NFT for 25M was almost certainly more than just a fun marketing play, especially when you explore why they decided to do it NOW...
Starts to become clear if you go through the timeline of recent events leading up to purchase:
> 2025 year of the dex (perpdex volume uponly)
> CZ + Binance szn dominant theme in Sept
> Oct 10th worst liquidation event in crypto history
> Sentiment deteriorating...blame game begins
> Binance 700M(!) unprecedented reimbursement to traders
> Binance listing requirements leak + drama
> Vibe shift towards largest competitor palpable
> Announce plan to list BNB after waiting 7yrs(!)
> Buy UpOnly NFT sparking viral support (deserved)
So if you were questioning - why make @cobie & @ledgerstatus the highest paid podcast hosts in the world?
•Joe Rogan rev/episode = ~$800k
•UpOnly rev/episode = 3.12M
Consider how valuable it is for crypto companies to have broad community support....and how much they *spend* through airdrops or incentives to achieve this (with pretty subpar results tbh)
This move was as tactical and calculated as it was incredibly based.(Luke Martin)
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