Coinbase launches new tool assistant, which can create AI agent to manage Crypto wallet in three minutes

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 with their own Crypto asset wallet in just 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 robot designed to perform a specific task.

“Our goal is to make it as simple as possible to get started building your own AI agent,” Murr noted in a video accompanying the post.

Technically, Based Agent is an autonomous on-chain agent framework. But to simplify things, the tool essentially serves as a template for users to create their own AI agents that can access different kinds of smart contract functionality and can integrate with any smart contract.

“Based Agent has several different modes, one of which is a fully autonomous version where users can create an AI agent that can do whatever they want with different on-chain interactions,” Murr explained.

Once created, the AI ​​agent will be able to perform tasks such as trading, exchanging, watching, and registering its own base name.

“Based Agent comes with an X application programming interface (API) that allows users to turn their AI agent into an X robot,” Murr added.

According to Murr, Based Agent was created using the Coinbase Software Development Kit (SDK) with the help of ChatGPT creator OpenAI and software creation platform Replit.

To start creating an AI agent, users need to obtain an API key from Coinbase’s developer program, as well as a key provided by OpenAI, and fork the Replit template.

“It couldn’t be easier to add any functionality you want to these agents.”

The launch of Based Agent comes less than a month after the Crypto asset exchange witnessed its first trade between AI agents.

At the time, Coinbase CEO Brian Armstrong said that the AI ​​agents were unable to complete the task without human supervision due to technical limitations.

Earlier this week, Armstrong offered to help Truth Terminal, an AI agent that has become very popular on X, build its own Crypto wallet. While AI agents can’t have bank accounts, they can have Crypto wallets.