PANews reported on October 27 that according to Cointelegraph, Coinbase launched a new tool, Based Agent, which allows users to set up their own artificial intelligence agent using a crypto wallet in three minutes. Once created, the agent can handle a variety of on-chain tasks, from transactions to exchanges and pledges.

“The goal is to make it as easy as possible for you to start building your own AI agent,” Coinbase developer Lincoln Murr explained in a video for the X platform. Murr explained that Based Agent is a template that allows users to build AI agents (“bots” designed to perform specific tasks) with access to various smart contract functions. Once set up, the AI agent can integrate with smart contracts, perform exchanges, trades and staking, and register its own base name. He noted that the template was built using Coinbase’s software development kit (SDK), as well as ChatGPT maker OpenAI and software creation platform Replit.