Coinbase Launches New AI Agent Creation Tool to Handle Cryptocurrency

Coinbase has revealed details of its newest tool that promises to merge AI and crypto to create automated agents in less than three minutes.

The Nasdaq-listed company unveiled “Based Agent,” highlighting advances in development capabilities that will support the new service. It will be developed in partnership with OpenAI and Replit, the AI-powered software startup.

Lincoln Murr, the project’s lead developer, posted on his X account, declaring: “The era of Onchain Autonomous Agents has arrived,” as he announced the launch of the “Based Agent.”

Coinbase co-founder and CEO Brian Armstrong reinforced the introduction of the tool, which can also set up an X account in just a few 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

What is Coinbase’s “Based Agent”?

Coinbase’s Based Agent proposal is to utilize AI advances in a cryptocurrency context.

Built on Base, the platform’s layer-3 network, and powered by OpenAI, the system allows developers to create agents that perform complex crypto functions autonomously, without the need for guidance.

In the video above, Lincoln presents the theory behind the agent framework with the goal of making the process as simple as possible for users to follow and replicate.

Most importantly, different modes can be selected in addition to the fully autonomous option, allowing developers to take control and be creative in customizing the agent.

As mentioned earlier, the X/Twitter API allows for the introduction of bots.

A recent Coinbase blog explored future collaborations, indicating that AI agents will increase their presence. As a result, they will become major drivers of economic activity and growth.

Finally, the report also suggested that these bots could eventually become the largest users of apps, “gradually moving away from human users in the medium to long term.”

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Margharet Tess

Editor, Developer at Cryptheory Labs

I have been active in the cryptocurrency world for over 6 years, during which I have written countless articles about this sector. What fascinates me most about cryptocurrencies is their technological aspect and the problems they aim to solve. In the past three years, I have ventured into app development and am currently working on a larger project called P2E Buzzer. Stay tuned for the surprise. 🙂 My previous experiences: Business2Community.com, TradingPlatforms.com

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