Coinbase Launches ‘Based Agent’ for Quick AI Agent Creation in Crypto

Coinbase has introduced a new tool, "Based Agent," which allows crypto users to create their own AI-powered agents in less than three minutes. According to Coinbase, the tool is designed to make it easy for users to set up a personal AI agent with a crypto wallet capable of handling various blockchain tasks like trades, swaps, and staking.

Fast and Accessible AI Agent Creation for Crypto Users

Lincoln Murr, a Coinbase developer, showcased Based Agent in an October 26 video on X, describing it as a streamlined template for creating custom AI agents, or bots, that can execute specific onchain tasks. Using Coinbase's software development kit (SDK), along with technology from OpenAI and Replit, Based Agent enables users to set up AI agents quickly and integrate them with smart contract functions.

Key Functionalities of Based Agent:

• Integration with smart contracts

• Execution of swaps, trades, and staking

• Ability to register their own "base name" onchain

Requirements to Get Started: Users need an API key from Coinbase’s developer program, an OpenAI key, and access to the Replit template.

Coinbase CEO Brian Armstrong shared the post, emphasizing how quickly users can build their own agents, stating that the setup process takes less than three minutes.

Growing Applications of AI in Blockchain Transactions

The launch of Based Agent aligns with recent advancements in integrating AI with blockchain. For instance, Coinbase CEO Brian Armstrong recently offered a crypto wallet to the AI chatbot Truth Terminal, suggesting it could help the bot handle transactions independently. Armstrong also recently completed his first crypto transaction overseen entirely by AI agents, which involved the exchange of crypto tokens with another AI bot to obtain AI-based tokens.

On October 23, Jesse Pollak, Coinbase's head of protocols, referenced an AI agent named “Luna” on X. Luna, developed to interact on social media, was the first AI agent known to autonomously tip users who engaged with its content.

A Surge in AI-Driven Blockchain Transactions

The rapid rise in AI agent capabilities could mark a major shift in the way blockchain transactions are managed. According to James Ross, founder of Mode Network, AI agents could dominate the blockchain landscape within the next year. Ross recently shared that “over 80% of all blockchain transactions will be done by AI agents in the next 6-12 months.”

Looking Ahead

With the launch of Based Agent, Coinbase has positioned itself as a leader in making AI tools accessible to everyday crypto users. As more users deploy these agents for autonomous tasks, the trend could dramatically change how blockchain and crypto interactions occur. Coinbase’s approach may accelerate the integration of AI in blockchain operations, paving the way for a future where the majority of transactions are handled by AI agents.