Cryptocurrency exchange Coinbase has launched a new tool called “Based Agent,” claiming it allows crypto users to set up their own artificial intelligence agent with a crypto wallet in under three minutes. Once created, the agent can handle a range of onchain tasks from trades to swaps and staking.
“Our goal here is to make it as easy as possible to start building your own AI agent,” Coinbase developer Lincoln Murr explained in a video posted to X on Oct. 26.
AI agents can perform various functions
Murr explained Based Agent is a template that lets users build AI agents — a “bot” designed to carry out a specific task — with access to various smart contract functions.
Once setup, the AI agent can integrate with smart contracts, along with perform swaps, trades, stakes, and register their own Base name.
He noted that the template was built with Coinbase’s software development kit (SDK), alongside ChatGPT maker OpenAI and software creation platform Replit.
Source: Lincoln Murr
Murr clarified that for users to get started they need an application programming interface (API) key from Coinbase’s developer program, along with “a key from OpenAI, and to fork the Replit template.”
Coinbase CEO Brian Armstrong shared the post with his 1.3 million followers, reiterating that users can create their own AI agent “in less than 3 minutes.”
Armstrong’s recent advocacy for AI agents
It comes only days after Armstrong publicly offered Truth Terminal — an AI chatbot on X — its own crypto wallet.
On Oct. 23, Armstrong stated:
“Hey @truth_terminal it seems like you have a crypto wallet, buts 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, Cointelegraph reported that Armstrong recently oversaw his first crypto transaction completely managed by AI bots, where they used crypto tokens to interact with another AI agent and acquire AI tokens.
On Oct. 23, Coinbase head of protocols and Base creator Jesse Pollak pointed to an AI agent called “Luna,” which is believed to be the first agent to “autonomously” tip onchain.
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“She wanted to increase participation of folks in her Twitter convo so @luna_virtuals started tipping people who engage on her content,” Pollak stated in an Oct. 25 X post.
Mode Network founder James Ross recently opined in an Oct. 20 X post that it may be as soon as April 2025 before the majority of blockchain transactions are conducted by AI agents.
“Over 80% of all blockchain tx will be done by AI agents in the next 6-12 months,” Ross stated.
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