Coinbase Unveils ‘Based Agent’ for Quick AI Creation

Coinbase has launched a new AI tool called “Based Agent.” The crypto exchange claims users can set up their own AI agents using their wallets in less than 3 minutes.

These AI agents can handle multiple tasks, including trading and staking. Let’s discover more about this important news for Coinbase.

Coinbase Template Lets Users Build Custom AI Agents

Lincoln Murr, a Coinbase developer, explained in an Oct. 26th video on X that Based Agent acts as a template. It would enable users to create custom AI agents with access to smart contract functions.

Murr shared that the template was built using Coinbase’s software development kit (SDK) , along with tools from ChatGPT creator OpenAI and coding platform Replit.

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

“To get started, all you need is an API key from CDP Coinbase , a key from OpenAI, and to fork the Replit template. It couldn’t be easier to start adding whatever functionality you want to these agents. Can’t wait to see what you build,” Murr wrote on X.

A Growing Trend in AI and blockchain 

Coinbase CEO Brian Armstrong, who has been actively exploring AI’s potential in crypto, shared the news with his followers on X. Recently, Armstrong offered a crypto wallet to Truth Terminal, an AI chatbot. This further shows the growing interaction between AI tools and blockchain assets.

Create an AI agent with a crypto wallet (and optional X account) in less than 3 minutes

Based Agent! https://t.co/QznYkoZTC0

— Brian Armstrong (@brian_armstrong) October 26, 2024

It also follows Armstrong’s earlier experiment where he oversaw a fully AI-managed crypto transaction. Interestingly, Coinbase isn’t the only crypto company exploring possibilities in AI.

More About AI- Crypto Developments

Tether has just launched its Local AI Development Kit, a tool that puts privacy first. This kit allows AI models to run directly on users’ devices through a peer-to-peer (P2P) system. Interestingly, it supports several AI models like Marian and Llama.

This tool is part of Tether’s effort to meet the growing demand for privacy within the crypto space. Additionally, Tether plans to make AI services easily accessible to anybody and address the issue of the monopoly of data by big tech companies. Tether has also changed its hiring strategy and is investing in AI-experienced talents.

Yesterday at @LuganoPlanB I presented a preview of Tether’s Local AI development kit, privacy focused, powered by peer-to-peer technology 🍐🍐

Write the code once, and run everywhere, from a 40$ phone, to a flagship smartphone, from a laptop to a mainframe with many H100, from a… pic.twitter.com/L0Uz2P7BKg

— Paolo Ardoino 🤖🍐 (@paoloardoino) October 27, 2024

Coinbase and Tether’s involvement in AI means AI agents could play bigger roles in crypto. Some experts claim AI agents will soon handle over 70% of blockchain transactions in the near future.

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