Coinbase Launches Base App Aiming to Revolutionize On-Chain Economy

Coinbase, a prominent cryptocurrency exchange, launched its new mobile app, Base, on Wednesday in Los Angeles. The app is a rebrand and expansion of the company’s Coinbase Wallet, aiming to create an “everything app” for the on-chain economy. Base combines social features, AI tools, and monetization options, allowing users to earn from posts, messages, trade, and play games—all within a single platform.

The launch event was attended by a packed audience of crypto enthusiasts. The app, which went live earlier that day, is designed to go beyond simple transactions, providing users with tools to create, earn, message, game, and interact with AI. John Granata, Coinbase Director of Product, emphasized the social aspect of the app, stating that it is designed to facilitate how people trade, send payments, find friends, and build apps together.

Serial entrepreneur and Vee Friends creator Gary Vaynerchuk, who spoke at the event, expressed his excitement about the launch. He noted that a decentralized social network has been a long-awaited development in the crypto space. Vaynerchuk praised the early previews and nuances of the app, indicating that it could be a significant step forward for the industry.

Beyond its social and financial features, the Base app integrates creator-focused monetization. Each post, whether text, image, or video, can become an on-chain asset, allowing users to earn from their content. Granata highlighted that for many users who have never earned from their media before, Base could be the first platform to offer such opportunities. The app also includes end-to-end encrypted chat with wallet integration, enabling users to send crypto or execute trades directly within a group chat, often assisted by AI agents.

Filmmaker Roman Coppola, co-founder of the film studio Decentralized Pictures, one of the early developers on Base, emphasized the significance of decentralization for artists. He noted that the shift toward decentralization gives creators more control and financial rewards from their work. Coppola expressed pride in being part of a game-changing ecosystem that represents various creative categories, including film and gaming.

During his keynote speech, Coinbase CEO Brian Armstrong positioned the launch of Base within the company’s broader mission to increase economic freedom in the world through crypto. He described the app as part of a shift away from traditional financial services, aiming to provide permissionless access for everyone globally. Armstrong called the launch of Base the company’s “Netscape” moment, referring to the early web browser that brought the internet to a mass audience. He emphasized that the industry is at a pivotal point where innovation across various sectors can create an on-chain economy for a billion people.

Underpinning the Base app is a set of open protocols, including Farcaster for social, XMTP for messaging, and Zora for monetization. These protocols are designed to promote transparency and composability, ensuring that users do not have to trust Coinbase but rather the network and protocol itself. Granata emphasized that Base is for everyone, catering to both early adopters and those who need more time to embrace the technology.