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The NEAR Protocol Introduces NEAR Name Tokens As Digital Identities

NEAR Protocol, a Web3 platform using Chain Abstraction technology, recently announced a new project. According to the platform, it is introducing “NEAR name tokens” that offer a more resilient solution for digital identity, as well as providing several other capabilities through digital identity. The company informed the community about this development on its official X account.

“NEAR name tokens” work as a cross-platform, multi-chain digital identity that benefits Web3 users. The firm says it is working in collaboration with D3. Both companies are trying to fill the gap between Web3 and traditional Internet infrastructure. In this regard, “NEAR name tokens” play an important role. They contribute greatly to creating interoperable and future-proof digital identities. It is reported that the corresponding identifiers will contribute to the implementation of Chain Abstraction and the broader development of Web3.

NEAR name tokens contain an asterisk (*) separating the extension and name, such as you*near, rather than a period. A possible reason for this development is that NEAR accounts already use the “.NEAR” extension. Hence, to avoid confusion, the company is introducing an asterisk. The firm claims that DNS integration with the Web3 sector will vitally support digital identity interoperability in the Web3 sector.

Image: Binance Academy

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