Coinbase engineering head Erik Reppel argues that the rise of AI agents could spell the end of the internet's ad-driven business model.
Speaking at Consensus Miami 2026, Reppel-founder of the x402 payments protocol-said the internet was built for human interaction, not machine-to-machine communication. AI agents bypass ads entirely, undermining the revenue model that powers most of the web.
“If a human visits a website, show them an ad. If an agent visits a website, charge them five cents,” Reppel said.
He points to x402, a protocol built on the HTTP 402 status code, as the infrastructure for a future of automated micropayments made via stablecoins and blockchain rails. Reppel estimates the "agentic economy" could reach $3 to $5 trillion in four years.
“Agents really are the browser of the future,” he concluded.