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.

Coinbase has launched Based Agent, a tool that allows users to create their own AI agent connected to a crypto wallet in less than three minutes. The agent can then perform on-chain tasks like trading, staking, and interacting with smart contracts.

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

Crypto exchange Coinbase is now offering a tool called “Based Agent” that enables customers to set up their own AI agent with a cryptocurrency wallet in less than three minutes, the company announced. Once created, the agent is capable of handling staking, trades, and swaps.

“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.

Unveiling Smart Contract Capabilities

Murr’s demonstration showcased how users can leverage the Based Agent template to create artificial intelligence agents—also known as “bots”—tailored to carry out specific tasks, ranging from smart contract integration to trading, swapping, and staking activities, and even registering their own base name.

He noted that the template was created using software development platform Replit, OpenAI—the provider of ChatGPT—and Coinbase’s software development kit (SDK).

How to Get Started with Based Agent

To get started, users will need an API key from Coinbase’s developer program, “a key from OpenAI, and to fork the Replit template,” said Murr.

Coinbase CEO Brian Armstrong shared the announcement with his 1.3 million followers on Twitter, reiterating that users can now create their own AI agent “in less than 3 minutes.”

Coinbase’s Continuing AI Endeavors

The announcement from Armstrong comes just days after Truth Terminal, an X AI chatbot, was revealed to have its own crypto wallet.

“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?” asked Armstrong on X on October 23.

As reported by Cointelegraph in August, Armstrong recently oversaw his first fully bot-managed cryptocurrency transaction, where one AI agent interacted with another to acquire AI tokens using crypto tokens.

Autonomous AI Agents on the Rise

Meanwhile, on Oct. 23, Jesse Pollak—head of protocols at Coinbase and Base—mentioned an artificial intelligence agent named “Luna.” According to Pollak, Luna was the first agent to “autonomously” tip onchain.