Cryptocurrency exchange Coinbase has unveiled “Based Agent,” a new tool designed to bridge AI with blockchain technology. The platform allows developers and users to create AI-powered crypto agents in less than 3 minutes, according to Lincoln Murr, the developer spearheading the project.
Based Agent operates on Base, Coinbase’s layer-2 network, and is compatible with other major blockchains, including Ethereum, Polygon, and Arbitrum. The tool leverages advanced technologies such as OpenAI and provides a development environment through Replit, making it accessible for users to integrate complex crypto operations. “It couldn’t be easier to start adding whatever functionality you want to these agents,” Murr stated.
The platform requires users to obtain API keys from Coinbase’s developer program and OpenAI, as well as fork the Replit template. This streamlined setup process enables the creation of customized AI agents capable of executing tasks like trading, swapping, staking, and registering their own base names. Once deployed, these agents can autonomously handle on-chain interactions, performing transactions without the need for continuous human oversight.
Brian Armstrong, CEO of Coinbase, emphasized the platform’s rapid deployment capabilities. He showcased how Based Agent allows for the swift establishment of AI agents equipped with crypto wallets and comprehensive blockchain functionalities. Armstrong’s promotion of the tool is part of Coinbase’s vision of an “Agentic Web,” where AI-driven autonomous agents facilitate economic activities across the digital ecosystem.
The introduction of Based Agent aligns with recent developments within Coinbase’s infrastructure. For instance, earlier this month, Armstrong assisted Truth Terminal—an AI chatbot on the social media platform X—in setting up its own crypto wallet. Despite AI agents not being able to own traditional bank accounts, they can possess crypto wallets, enabling them to manage and execute digital transactions independently.
Furthermore, Jesse Pollak, Coinbase’s head of protocols and creator of Base, highlighted the emergence of AI agents like “Luna.” Luna is recognized as the first agent to autonomously tip onchain, enhancing user engagement by rewarding interactions within her Twitter conversations. Pollak commented, “She wanted to increase participation of folks in her Twitter convo so @luna_virtuals started tipping people who engage on her content”.
Looking ahead, industry experts predict significant growth in the use of AI agents within the blockchain space. James Ross, founder of Mode Network, forecasted that “over 80% of all blockchain transactions will be done by AI agents in the next 6-12 months.”
User Accessibility and Developer Support
Based Agent is not limited to experienced developers as Coinbase wants to ensure that even users with minimal technical expertise can use the tool. By providing a template-based approach, the platform simplifies the creation of AI agents and their advanced blockchain functionalities. “Our goal here is to make it as easy as possible to start building your own AI agent,” Murr said.
The collaboration with OpenAI and Replit serves to further enhances the platform’s capabilities, offering robust support for creating sophisticated AI-driven applications. The inclusion of an X application programming interface (API) allows users to turn their AI agents into X bots, expanding their functionality and integration possibilities across different platforms.
AI and the Crypto Landscape
With the wider adoption of AI in the cryptocurrency sector, tools like Based Agent will play an important role in shaping the future of digital transactions and automated economic activities. Coinbase’s initiative is part of a broader trend towards integrating intelligent automation within blockchain systems, promising greater efficiency, security, and user engagement in the rapidly evolving landscape of digital finance.
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