Coinbase Ushers in a New Frontier with $15K in AI Builder Grants
In a groundbreaking move, the Coinbase Developer Platform (CDP) has unveiled its AI Builder Grants Program. This forward-thinking initiative aims to fuse the advanced capabilities of artificial intelligence (AI) with the transformative power of blockchain technology. As part of this ambitious endeavor, Coinbase is putting forward a total of $15,000, divided into five grants of $3,000 each. These grants are designed to fuel the development of AI bots that can effectively utilize Coinbase’s cutting-edge Multi-Party Computation (MPC) Wallets.
The primary mission of this program is to ignite innovation by enabling developers to create AI bots that seamlessly operate on the blockchain, utilizing Coinbase’s MPC Wallets. These advanced wallets empower AI agents to handle transactions in USD Coin (USDC) without any fees on Base, a sophisticated layer-2 Ethereum scaling solution. Furthermore, these AI agents have the capability to accumulate yield on their USDC balances, adding a layer of financial incentives to the technological marvels.
For those looking to participate, the eligibility criteria include the development of AI bots that incorporate the use of Coinbase’s MPC Wallets. Additionally, applicants must submit their grant application before the looming deadline of September 5th, 2024. The selection process, helmed by the discerning eyes of the Coinbase team, will revolve around the criteria of creativity, utility, and feasibility of real-world application. It’s important for applicants to note that patience is a virtue, as the grants will only be awarded post-deadline.
The AI Builder Grants Program is crafted to tackle the challenges AI agents face in the financial realm. Traditional banking systems are designed with humans in mind, leaving AI out in the financial cold due to their inability to open bank accounts or manage automated payments. By bridging AI with blockchain, Coinbase aspires to unlock unprecedented possibilities for AI in financial applications, thereby fostering a new breed of AI-driven financial solutions.
Highlighting the significance of the program, Coinbase’s Co-Founder and CEO shared a visionary statement, “LLMs should have crypto wallets. Let’s help AI agents get work done (on your behalf) and participate in the economy.” This assertion underscores the commitment to enabling a future where AI can more actively engage in and contribute to the economic landscape.
Developers keen on capturing one of these grants have a clear path to follow; applications are being accepted through Deform up until September 5th, 2024. As the anticipation builds, Coinbase stands ready to support the adventurous minds willing to explore the revolutionary interface of AI bots and MPC Wallets.
For interested developers, Coinbase extends a wealth of resources, documentation, and support through channels like Discord. These tools are put in place to assist in the realization of groundbreaking ideas and to ensure the smooth integration of AI with blockchain. Through the AI Builder Grants Program, Coinbase is not just envisioning a future where AI and blockchain coexist; it is actively forging it, marking the advent of an exciting chapter in AI-driven financial solutions.
