In a groundbreaking move, Coinbase has launched Based Agent, enabling crypto enthusiasts to build AI agents connected to crypto wallets in less than three minutes. This innovative tool allows users to execute onchain tasks like trading, staking, and smart contract interactions with unprecedented ease.

Coinbase's Based Agent Allows AI Agent Creation in Under Three Minutes

Trading digital currency "Based Agent," a new tool from Coinbase, enables customers to create their own AI agent with a cryptocurrency wallet in less than three minutes, according to the company. The agent can manage staking, trades, and swaps after it is created.

“Our goal here is to make it as easy as possible to start building your own AI agent," explained Lincoln Murr, a developer at Coinbase, in a video upload to X on Oct. 26.

Unlocking Smart Contract Features

What Murr meant was a user can access a variety of smart contract features by using the Based Agent template to develop artificial intelligence agents, also known as "bots" tailored to carry out certain tasks.

After initialization, the AI agent can take part in smart contract integration, trade, swap, and stake activities, and even register their own base name.

He mentioned that the template was created using Replit, a platform for software production, OpenAI, the provider of ChatGPT, and Coinbase's software development kit (SDK).

Getting Started with Based Agent

In order to begin, users will require an API key from Coinbase's developer program, "a key from OpenAI, and to fork the Replit template," as Murr said.

By sharing the tweet with his 1.3 million followers, Coinbase CEO Brian Armstrong reiterated that consumers had the ability to develop their very own AI agent "in less than 3 minutes."

Coinbase's Continued AI Engagement

Armstrong made the announcement just days after Truth Terminal, an X AI chatbot, gave its own cryptocurrency wallet to the public.

Armstrong said on X on October 23:

“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?”

Cointelegraph claimed in August that Armstrong had just overseen his first fully bot-managed cryptocurrency transaction, in which one AI agent interacted with another to obtain AI tokens using crypto tokens.

The Rise of Autonomous AI Agents

Meanwhile, on October 23rd, Jesse Pollak, who is both the head of protocols at Coinbase and the architect of Base, made reference to an artificial intelligence agent named "Luna." Pollak claimed that Luna was the first agent to "autonomously" tip onchain.