Coinbase Launches ‘Based Agent’ To Build Own AI Agent in 3 Minutes

The cryptocurrency landscape might witness incredible transformation as users gain control of building their artificial intelligence (AI) agents. This notable development has the crypto exchange Coinbase at its core. The exchange, however, partnered with notable brands to achieve this.

Revolutionizing Crypto with AI Integration

In a video shared on the X platform, Lincoln Murr, a Coinbase developer, explained that the exchange has launched a new tool called “Based Agent.” According to him, users can set up their own AI agent with the tool using a crypto wallet. The template provided facilitates the process, which can take three minutes.

Introducing Based Agent: create AI agents with full onchain functionality on @base in less than 3 minutes.

The era of Autonomous Onchain Agents is here

Built with @CoinbaseDev SDK, @OpenAI , and @Replit

oh, and you can make it an @X bot too 😉 pic.twitter.com/RgbXp290bV

— lincoln.base.eth (@MurrLincoln) October 26, 2024

The created AI agent will thereafter handle different on-chain tasks like trading, swapping, and staking. Murr emphasized that the objective is to make the building of AI agents as seamless as possible and encourage their use.

Collaborative Efforts with OpenAI and Replit

Coinbase developed the template that facilitates the building of the AI agent in collaboration with OpenAI, maker of ChatGPT. They relied on Coinbase’s software development kit (SDK) and used some help from Replit, the software creation platform.

Once set up, the Based Agent can perform some key tasks, including registering the user’s base name. It can also integrate with smart contracts and perform stakes and trades.

However, a user needs an application programming interface (API) key from the Coinbase developer program to onboard. Additionally, it requires a key from OpenAI and a fork with the Replit template.

Coinbase Vision for AI-Enhanced Wallets

As reported by The Coinrise, Brian Armstrong, Coinbase CEO, made a case in August for the integration of AI in cryptocurrency wallets. According to Armstrong’s vision, users should benefit from an enhanced experience from AI helping to execute personal tasks.

The CEO’s vision, implemented via the Coinbase Developer Platform and CDP AI Grant program, incentivized developers with a prize. Coinbase had set aside a $15,000 grant of $3,000 each for the five projects listed. The objective set for the developers was to ensure that the AI agents could conduct transactions with USDC on the Base platform. Armstrong recently celebrated the first AI-to-AI transaction as a prelude to the current development.