New Coinbase Tool Enables Users to Deploy AI Agents for Blockchain Activities

Sentiment Status: Positive

The arrival of AI-powered agents like Truth Terminal has sparked renewed interest in Web3, with users eager about the potential for AI-driven bots to manage crypto assets.

Coinbase launched "Based Agent", a tool that enables users to develop autonomous AI agents that can interact with blockchain technology. 

Based Agent, announced on October 26 by Coinbase developer Lincoln Murr, is a platform designed for creating AI-powered agents on Coinbase's Base Layer-2 network. These agents, which can be deployed in under three minutes, can handle on-chain activities such as trading, staking, and interacting with smart contracts. Built on Base and integrated with technology from OpenAI and Replit, the platform allows users to deploy agents with advanced on-chain functionalities, making it accessible even for people with limited technical experience.

The platform is part of Coinbase’s vision of an “Agentic Web”; a digital landscape where AI-driven autonomous agents can conduct economic activities across various blockchain networks, including Ethereum, Polygon, and Arbitrum.

Furthermore, users need only Coinbase and OpenAI API keys and a Replit template to start creating and customizing their AI agents, a straightforward process that can be completed in just five steps.

In recent months, the introduction of AI-powered agents like Truth Terminal has awakened interest in Web3, with users excited by the potential for AI-driven bots to manage crypto assets. For example, Truth Terminal’s impact with the promotion of the memecoin, GOAT, whose market cap soared to over $685 million. Observers view these projects as the first real convergence of AI and blockchain.

Once deployed, these agents can handle complex interactions, execute trades, stack assets, and even register names on the Base platform. Additionally, users can transform their AI agents into bots on social media with an API integration for X.

The flexibility of Based Agent supports developers and invites casual users to experiment with decentralized AI applications. The tool’s design simplifies agent deployment, fostering a creative environment where developers can explore new AI functionalities. 

Coinbase’s new platform aligns with the vision of making DeFi accessible to everyone by removing complex barriers.

Coinbase CEO Brian Armstrong, an advocate for integrating AI with Web3, sees this as a critical step toward building decentralized digital economies where AI agents can independently conduct transactions, monitor trends, and optimize portfolio performance on behalf of users.

With this innovation, Coinbase positions itself as a leader in the convergence of AI and blockchain, bringing decentralized technologies closer to everyday users.