Coinbase introduces ‘Based Agent’ for creating AI agents in 3 minutes

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 various 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 set up, the AI agent can integrate with smart contracts, perform swaps, trades, and 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. 

Murr clarified that for users to get started, they need an application programming interface (API) key from Coinbase’s developer program and “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 on X:

“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.

Meanwhile, 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.

It may be as soon as April 2025 before the majority of blockchain transactions are conducted by AI agents, according to Mode Network founder James Ross.

“Over 80% of all blockchain tx will be done by AI agents in the next 6-12 months,” Ross stated in an Oct. 20 X post.

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