Cryptocurrency exchange Coinbase has launched “Based Agent”, a new tool that allows users to create their own AI-powered crypto agents in under three minutes. This innovative template simplifies the integration of artificial intelligence with blockchain, enabling AI agents to handle on-chain tasks like trades, swaps, and staking.
Quick and Easy AI Agent Creation
Lincoln Murr, a developer at Coinbase, announced in a video posted on X (formerly Twitter) on October 26 that the goal of Based Agent is to make building AI agents as easy as possible. Users can set up their own AI agents with minimal effort, even if they’re not tech experts.
What Can Your AI Agent Do?
Based Agent serves as a starting point for creating AI bots capable of interacting with smart contracts and performing various blockchain functions. Once your AI agent is up and running, it can:
- Execute trades, swaps, and staking operations
- Integrate directly with smart contracts
- Register its own unique base name
How to Get Started
To build your AI agent using Based Agent, you’ll need:
- A Coinbase API key from their developer program
- An OpenAI API key
- Access to Replit to fork the template
The template is built using Coinbase’s Software Development Kit (SDK), in collaboration with OpenAI (the creators of ChatGPT) and Replit, a platform for coding and software development.
Support from Coinbase Leadership
Coinbase CEO Brian Armstrong shared the news with his 1.3 million followers on X, emphasizing that anyone can create their own AI agent “in less than 3 minutes.” Armstrong has been actively promoting the integration of AI into the crypto space.
Armstrong’s Vision for AI in Crypto
Just days before the Based Agent announcement, Armstrong offered Truth Terminal, an AI chatbot on X, its own crypto wallet. He tweeted:
“Hey @truth_terminal, it seems like you have a crypto wallet, but it’s fully controlled by your (human) creator. Is that accurate? Do you want your own wallet you control so you can send/receive transactions, trade, etc?”
In August, Armstrong oversaw his first crypto transaction completely managed by AI bots. These bots interacted with other AI agents using crypto tokens, showcasing the potential for AI-driven blockchain activities.
Emerging AI Agents in the Blockchain World
On October 23, Jesse Pollak, Coinbase’s head of protocols and creator of Base, highlighted an AI agent named “Luna”. Luna is believed to be the first AI agent to autonomously send on-chain tips. She encourages engagement by tipping users who interact with her content on social media.
The Future of AI in Blockchain Transactions
James Ross, founder of Mode Network, predicts a significant shift towards AI-managed blockchain transactions. He stated on X:
“Over 80% of all blockchain transactions will be done by AI agents in the next 6-12 months.”
