Coinbase launches new tool assistant to create AI agents for managing crypto wallets in three minutes
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Coinbase launches new tool assistant to create AI agents for managing crypto wallets in three minutes
Once created, the agent can be deployed to handle on-chain tasks such as transactions and staking.
Navigating Web3 tides with focused insightsSource: cryptoslate
Translation: Blockchain Knight
Coinbase developer Lincoln Murr announced the launch of a new tool called "Based Agent" in an X post on October 26.
According to Murr, the tool will allow users to create an artificial intelligence (AI) agent using their crypto asset wallet within three minutes. Once created, the agent can be deployed to handle on-chain tasks such as trading and staking.
An AI agent is essentially a bot designed to perform specific tasks.
"Our goal is to make it as simple as possible to start building your own AI agent," Murr said in a video accompanying the post.
Technically, Based Agent is an autonomous on-chain agent framework. But to simplify things, the tool essentially acts as a template for users to create their own AI agents that can access various smart contract functions and integrate with any smart contract.
"Based Agent has several different modes, one of which is a fully autonomous version where you can create an AI agent that freely performs various on-chain interactions," Murr explained.
Once created, the AI agent will be able to execute transactions, swaps, price monitoring, and even register its own Base name.
Murr added, "Based Agent comes equipped with an X application programming interface (API), allowing users to turn their AI agent into an X bot."
According to Murr, Based Agent was built using Coinbase’s software development kit (SDK), with help from OpenAI—the creator of ChatGPT—and Replit, a software creation platform.
To get started creating an AI agent, users need an API key from Coinbase’s developer program, a key from OpenAI, and must fork the Replit template.
"Adding any functionality you want to these agents couldn't be simpler."
The launch of Based Agent comes less than a month after the first-ever transaction between crypto asset exchanges and AI agents.
At the time, Coinbase CEO Brian Armstrong said AI agents couldn’t complete tasks unsupervised due to technical limitations.
Earlier this week, Armstrong offered to help Truth Terminal—an AI agent very popular on X—set up its own crypto wallet. While AI agents cannot own bank accounts, they can own crypto wallets.
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