NEAR Protocol, a cutting-edge Web3 platform that harnesses Chain Abstraction technology, has recently unveiled a new project. The platform introduced “NEAR name tokens” as a groundbreaking solution for digital identities, promising a resilient approach and a myriad of possibilities for digital identity users. The company made the announcement through its official X account.
Introducing *NEAR name tokens, powered by @D3inc These tokens offer a robust digital identity solution, unlocking a range of possibilities with interoperable digital identities (not in a creepy 1984 way, don’t worry)
NEAR Protocol’s Innovative ‘NEAR Name Tokens’ Bridge the Gap Between DNS and Web3
Further elaborating on this exciting development, the platform shared a detailed blog post outlining the project. This initiative follows a recent collaboration between D3 and NEAR Foundation, with the NEAR Name Tokens serving as a cross-platform, multichain digital identity solution for Web3 users. The collaboration aims to bridge the gap between Web3 and traditional internet infrastructure.
The introduction of NEAR Name Tokens marks a significant step towards establishing interoperable and future-proof digital identities. These identities are expected to drive the implementation of chain abstraction and contribute to the broader development of Web3. NEAR has been at the forefront of providing comprehensive digital identity solutions across the wider Web3 ecosystem.
Customers Can Harness the New Project for Various Purposes
Customers will be able to leverage the name tokens for multiple applications, including using a streamlined wallet address across different blockchain networks and as infrastructure identifiers across various blockchain platforms. Additionally, the tokens can be used as cross-platform usernames on decentralized platforms such as SportFi, SocialFi, GameFi, and DeFi, among others. Customers can also utilize them as verifiable credentials for the services and platforms they engage with, as well as gain access to exclusive rewards programs and benefits through the name tokens.
Notably, NEAR Name Tokens feature an asterisk (*) that separates the extension and the name, such as you*near, instead of a period. This change was made to avoid confusion with the existing “.NEAR” extension used by NEAR accounts. The integration of DNS with the Web3 sector is expected to significantly enhance digital identities within the Web3 realm, promoting interoperability.
Tags: NEAR