Coinbase introduces tool to create AI agents in 3 minutes

Coinbase has unveiled a new AI tool, “Based Agent,” aimed at simplifying the creation of AI agents for developers in under three minutes. This development reflects the growing synergy between AI and blockchain technology, which Coinbase believes will reshape the digital economy.

Key Features of Based Agent:

• AI agent setup in 3 minutes: Coinbase CEO Brian Armstrong emphasized that users can create an AI agent with a crypto wallet in less than three minutes.
• On-chain capabilities: These agents can perform various tasks such as trading, staking, and managing smart contracts on multiple blockchain ecosystems, including Base, Ethereum, and Polygon.
• Security via MPC: Based Agent employs Multi-Party Computation (MPC) wallet technology, splitting the private key between the developer and Coinbase for enhanced security.

Lincoln Murr Announced Based Agent

The tool was developed using Coinbase’s software development kit (SDK) and integrates with OpenAI and Replit technology. According to Lincoln Murr, a developer at Coinbase, the tool allows easy customization for tasks like interacting with smart contracts and managing Base names. It also supports integration with platforms like Ethereum, Polygon, and Arbitrum.

“Create an AI agent with a crypto wallet (and optional X account) in less than 3 minutes,” Armstrong said, highlighting the efficiency of the new tool.

Coinbase sees AI agents playing an essential role in the future of blockchain, with projections indicating that AI could manage over 80% of blockchain transactions by mid-2025. This is further supported by recent innovations like Terminal of Truths and autonomous agents like “Luna,” which are actively contributing to blockchain interactions. Coinbase believes the fusion of AI and crypto could lead to a more transparent, accessible digital economy, allowing individuals greater control over their data and assets.

In addition to its technical innovations, Coinbase Ventures has published a blog discussing the potential of an “Agentic Web,” where blockchain-enabled AI agents drive economic growth. With security at the forefront, tools like Based Agent aim to simplify AI integration while maintaining safety and transparency.