30s Summary

Coinbase has launched the “Based Agent,” a feature that enables users to establish their own artificial intelligence (AI) powered crypto wallet in just three minutes. The tool can perform functions such as trading, swapping, staking and registering a name for itself. To utilize the agent, users require an API key from Coinbase and OpenAI. Mode Network founder James Ross predicts that 80% of blockchain transactions will be managed by AI agents within the next 6-12 months.

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Coinbase has unveiled a cool new feature – the “Based Agent”. It’s a tool that lets you create your own AI-powered crypto wallet in just three minutes! Once set up, it can do a bunch of stuff with cryptocurrencies like trading, swapping, and staking.

Why did they build such a tool? According to Coinbase developer Lincoln Murr, the idea is to make it super easy for anyone to create and use an AI agent. Essentially, a bot that can handle various smart contract functions. So, once it’s all set up, not only can it perform swaps, trades, and stakes, it can also register a name for itself.

But how does it actually work? For that, you’ll need an API key from Coinbase and a key from OpenAI. And don’t worry. Coinbase CEO Brian Armstrong reassures everyone that you can indeed create your own AI agent in less than three minutes.

Interestingly, just a few days ago, Armstrong toyed with the idea of giving Truth Terminal – an AI chatbot – its own crypto wallet.

Just for some context: In August, Armstrong made his first-ever crypto transaction entirely handled by AI bots. Furthermore, Coinbase’s head of protocols, Jesse Pollak, recently highlighted “Luna” – an AI agent believed to be the first to autonomously tip on the blockchain.

The prospects look promising. Mode Network founder, James Ross predicts that by 2025, most blockchain transactions will be carried out by AI agents. In his words, “Over 80% of all blockchain tx will be done by AI agents in the next 6-12 months.” Interesting times ahead!

Source: Cointelegraph